Fidus Investment (NASDAQ:FDUS) Upgraded to Hold at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods upgraded shares of Fidus Investment (NASDAQ:FDUS) to a hold rating in a research report sent to investors on Monday morning, Zacks.com reports.

Fidus Investment Trading Down 0.6 %

NASDAQ:FDUS opened at $19.07 on Monday. Fidus Investment has a twelve month low of $17.63 and a twelve month high of $20.60. The firm’s fifty day simple moving average is $19.62 and its 200 day simple moving average is $19.65. The firm has a market capitalization of $601.73 million, a price-to-earnings ratio of 6.55 and a beta of 1.40.

Fidus Investment (NASDAQ:FDUS) last released its quarterly earnings results on Thursday, August 1st. The asset manager reported $0.57 EPS for the quarter, hitting the consensus estimate of $0.57. The firm had revenue of $35.66 million for the quarter, compared to analyst estimates of $34.88 million. Fidus Investment had a return on equity of 12.63% and a net margin of 67.43%. During the same period in the previous year, the company posted $0.62 EPS. On average, analysts predict that Fidus Investment will post 2.28 earnings per share for the current year.

Fidus Investment Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Thursday, September 19th will be given a dividend of $0.57 per share. This is a boost from Fidus Investment’s previous quarterly dividend of $0.43. The ex-dividend date is Thursday, September 19th. This represents a $2.28 annualized dividend and a dividend yield of 11.96%. Fidus Investment’s dividend payout ratio (DPR) is presently 59.11%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of FDUS. Envestnet Asset Management Inc. grew its position in Fidus Investment by 17.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 225,904 shares of the asset manager’s stock worth $4,401,000 after purchasing an additional 33,474 shares during the last quarter. PFG Advisors grew its holdings in Fidus Investment by 3.9% in the 2nd quarter. PFG Advisors now owns 178,404 shares of the asset manager’s stock worth $3,475,000 after buying an additional 6,735 shares in the last quarter. Wetzel Investment Advisors Inc. acquired a new stake in Fidus Investment in the 2nd quarter valued at approximately $32,000. Koss Olinger Consulting LLC bought a new stake in Fidus Investment during the 2nd quarter valued at $335,000. Finally, Legacy Capital Wealth Partners LLC acquired a new position in Fidus Investment during the 2nd quarter worth $1,521,000. 28.14% of the stock is currently owned by institutional investors.

About Fidus Investment

Fidus Investment Corporation is a business development company. It specializing in leveraged buyouts, refinancings, change of ownership transactions, recapitalizations, strategic acquisitions, mezzanine, growth capital, business expansion, lower middle market investments, debt investments, subordinated and second lien loans, senior secured and unitranche debt, preferred equity, warrants, subordinated debt, senior subordinated notes, junior secured loans, and unitranche loans.