Fidus Investment (NASDAQ:FDUS) Releases Earnings Results, Hits Estimates

Fidus Investment (NASDAQ:FDUS) announced its earnings results on Thursday. The asset manager reported $0.50 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.50, FiscalAI reports. The company had revenue of $32.55 million for the quarter, compared to analysts’ expectations of $42.37 million. Fidus Investment had a return on equity of 10.90% and a net margin of 45.36%.

Fidus Investment Stock Performance

NASDAQ FDUS traded down $0.23 during trading on Friday, hitting $20.35. 1,646,890 shares of the company’s stock traded hands, compared to its average volume of 259,980. The stock has a market capitalization of $772.28 million, a price-to-earnings ratio of 9.74 and a beta of 0.67. Fidus Investment has a 12-month low of $16.86 and a 12-month high of $21.67. The business has a 50 day moving average of $19.33 and a 200-day moving average of $18.79.

Fidus Investment Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 8.5%. The ex-dividend date is Tuesday, September 15th. Fidus Investment’s payout ratio is currently 75.44%.

Institutional Trading of Fidus Investment

Several hedge funds and other institutional investors have recently modified their holdings of the business. Oxford Asset Management LLP purchased a new stake in Fidus Investment during the 4th quarter worth about $391,000. Squarepoint Ops LLC purchased a new position in Fidus Investment during the 4th quarter valued at about $239,000. Verition Fund Management LLC increased its position in shares of Fidus Investment by 28.7% during the fourth quarter. Verition Fund Management LLC now owns 20,200 shares of the asset manager’s stock valued at $390,000 after buying an additional 4,500 shares during the period. Stifel Financial Corp increased its position in shares of Fidus Investment by 6.6% during the fourth quarter. Stifel Financial Corp now owns 17,657 shares of the asset manager’s stock valued at $341,000 after buying an additional 1,092 shares during the period. Finally, Osaic Holdings Inc. lifted its holdings in shares of Fidus Investment by 7.6% in the second quarter. Osaic Holdings Inc. now owns 13,092 shares of the asset manager’s stock worth $264,000 after buying an additional 920 shares in the last quarter. Institutional investors own 28.14% of the company’s stock.

Wall Street Analysts Forecast Growth

FDUS has been the subject of several analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Fidus Investment in a research note on Wednesday, June 17th. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $19.50 target price on shares of Fidus Investment in a research note on Monday, July 20th. One investment analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the company. According to MarketBeat, Fidus Investment has an average rating of “Moderate Buy” and an average price target of $21.00.

About Fidus Investment

Fidus Investment Corporation (NASDAQ: FDUS) is a closed-end, externally managed business development company (BDC) that provides specialized financing solutions to U.S. middle-market companies. Operated by Fidus Investment Advisors, LLC, a registered investment adviser, the company is regulated under the Investment Company Act of 1940 and trades on the Nasdaq Capital Market.

The firm focuses on structuring senior secured and unitranche loans, mezzanine debt and equity investments for established businesses across a range of industries.