2,120,925 Fidus Investment Corporation $FDUS Shares Purchased by Sound Income Strategies LLC

Sound Income Strategies LLC raised its holdings in shares of Fidus Investment Corporation (NASDAQ:FDUS) by 2,909.2% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,193,829 shares of the asset manager’s stock after purchasing an additional 2,120,925 shares during the quarter. Fidus Investment accounts for 1.0% of Sound Income Strategies LLC’s portfolio, making the stock its 9th largest position. Sound Income Strategies LLC owned 0.06% of Fidus Investment worth $41,880,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in FDUS. BlackRock Inc. bought a new stake in shares of Fidus Investment in the second quarter worth $2,633,000. Legal & General Group Plc acquired a new stake in shares of Fidus Investment during the second quarter worth $5,921,000. Van ECK Associates Corp lifted its holdings in Fidus Investment by 30.3% in the second quarter. Van ECK Associates Corp now owns 929,242 shares of the asset manager’s stock worth $17,721,000 after acquiring an additional 216,180 shares during the last quarter. Global Retirement Partners LLC bought a new stake in shares of Fidus Investment in the 2nd quarter worth approximately $621,000. Finally, Greenland Capital Management LP bought a new stake in Fidus Investment in the second quarter valued at $1,278,000. 28.14% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on FDUS shares. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $19.50 target price on shares of Fidus Investment in a research report on Monday, July 20th. Weiss Ratings raised shares of Fidus Investment from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, August 31st. Two equities research analysts have rated the stock with a Hold rating. Based on data from MarketBeat, Fidus Investment presently has a consensus rating of “Hold” and a consensus price target of $19.50.

Fidus Investment Stock Performance

Shares of NASDAQ FDUS traded down $0.03 during trading hours on Friday, hitting $19.06. The stock had a trading volume of 197,848 shares, compared to its average volume of 309,832. The firm’s 50-day moving average price is $19.57 and its two-hundred day moving average price is $19.04. Fidus Investment Corporation has a 52 week low of $16.86 and a 52 week high of $21.15. The company has a market capitalization of $723.33 million, a P/E ratio of 9.12 and a beta of 0.69.

Fidus Investment (NASDAQ:FDUS) last issued its quarterly earnings data on Thursday, August 6th. The asset manager reported $0.50 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.50. The firm had revenue of $32.55 million during the quarter, compared to analysts’ expectations of $42.37 million. Fidus Investment had a net margin of 45.36% and a return on equity of 10.87%. As a group, analysts expect that Fidus Investment Corporation will post 2.16 EPS for the current fiscal year.

Fidus Investment Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th were given a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 9.0%. The ex-dividend date of this dividend was Tuesday, September 15th. Fidus Investment’s payout ratio is currently 82.30%.

Fidus Investment Profile

Fidus Investment Corp. is a business development company that provides financing to privately held, lower-middle-market companies in the United States. The company seeks to support businesses that may have limited access to traditional bank financing and works with management teams, private equity sponsors and other financial partners to structure customized investment solutions.

Fidus primarily invests in debt securities, including senior secured and subordinated loans, and may also make equity investments such as warrants or other equity interests.