Zacks Investment Research cut shares of Fidus Investment (NASDAQ:FDUS) from a hold rating to a sell rating in a research report released on Tuesday morning.
According to Zacks, “Fidus Investment Corporation is a business development company which provides customized mezzanine debt and equity financing solutions to lower middle-market companies. The Company partners with business owners, management teams and financial sponsors by providing customized financing for change of ownership transactions, recapitalizations, strategic acquisitions, business expansion and other growth initiatives. Fidus Investment Corporation is based in Evanston, Illinois. “
FDUS has been the subject of several other reports. Ladenburg Thalmann Financial Services began coverage on shares of Fidus Investment in a research note on Friday, February 16th. They issued a buy rating for the company. BidaskClub raised shares of Fidus Investment from a strong sell rating to a sell rating in a research note on Saturday, March 3rd. Finally, ValuEngine cut shares of Fidus Investment from a buy rating to a hold rating in a research note on Thursday, March 1st. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. Fidus Investment currently has an average rating of Hold and a consensus price target of $17.50.
Fidus Investment (NASDAQ:FDUS) last released its earnings results on Thursday, March 1st. The asset manager reported $0.31 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.06). The firm had revenue of $17.07 million during the quarter, compared to analysts’ expectations of $17.76 million. Fidus Investment had a return on equity of 8.91% and a net margin of 64.06%. analysts predict that Fidus Investment will post 1.56 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 23rd. Shareholders of record on Friday, March 9th will be paid a $0.39 dividend. The ex-dividend date of this dividend is Thursday, March 8th. This represents a $1.56 annualized dividend and a yield of 12.13%. Fidus Investment’s payout ratio is currently 83.87%.
Hedge funds have recently added to or reduced their stakes in the business. Raymond James Financial Services Advisors Inc. grew its stake in shares of Fidus Investment by 4.3% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 496,469 shares of the asset manager’s stock valued at $7,983,000 after buying an additional 20,675 shares during the period. West Family Investments Inc. grew its stake in shares of Fidus Investment by 24.8% during the 4th quarter. West Family Investments Inc. now owns 392,328 shares of the asset manager’s stock valued at $5,952,000 after buying an additional 78,007 shares during the period. Novare Capital Management LLC grew its stake in shares of Fidus Investment by 2.3% during the 4th quarter. Novare Capital Management LLC now owns 353,594 shares of the asset manager’s stock valued at $5,368,000 after buying an additional 8,050 shares during the period. Yorktown Management & Research Co Inc grew its stake in shares of Fidus Investment by 14.6% during the 3rd quarter. Yorktown Management & Research Co Inc now owns 275,000 shares of the asset manager’s stock valued at $4,422,000 after buying an additional 35,000 shares during the period. Finally, Kennedy Capital Management Inc. grew its stake in shares of Fidus Investment by 808.2% during the 4th quarter. Kennedy Capital Management Inc. now owns 250,221 shares of the asset manager’s stock valued at $3,798,000 after buying an additional 222,670 shares during the period. 31.39% of the stock is owned by hedge funds and other institutional investors.
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Fidus Investment Company Profile
Fidus Investment Corporation is a closed-end, non-diversified investment company. The Company provides customized debt and equity financing solutions to lower middle-market companies. The Company’s investment objective is to provide attractive risk-adjusted returns by generating both current income from its debt investments and capital appreciation from its equity-related investments.
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