Fidus Investment (NASDAQ:FDUS) Share Price Crosses Above Two Hundred Day Moving Average – Time to Sell?

Fidus Investment Corporation (NASDAQ:FDUS)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $18.94 and traded as high as $19.46. Fidus Investment shares last traded at $19.30, with a volume of 189,657 shares changing hands.

Analysts Set New Price Targets

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

Fidus Investment Stock Performance

The company has a market cap of $724.09 million, a P/E ratio of 9.13 and a beta of 0.67. The firm has a 50 day moving average price of $19.76 and a 200-day moving average price of $18.94.

Fidus Investment (NASDAQ:FDUS) last announced its earnings results on Thursday, August 6th. The asset manager reported $0.50 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.50. Fidus Investment had a return on equity of 10.87% and a net margin of 45.36%.The company had revenue of $32.55 million during the quarter, compared to analyst estimates of $42.37 million. On average, sell-side analysts forecast that Fidus Investment Corporation will post 2.16 EPS for the current fiscal year.

Fidus Investment Dividend Announcement

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

Hedge Funds Weigh In On Fidus Investment

Institutional investors and hedge funds have recently modified their holdings of the business. Integrated Wealth Concepts LLC acquired a new stake in Fidus Investment during the second quarter worth about $188,000. Baird Financial Group Inc. increased its stake in Fidus Investment by 2.5% in the second quarter. Baird Financial Group Inc. now owns 416,390 shares of the asset manager’s stock valued at $7,941,000 after acquiring an additional 9,964 shares during the last quarter. Greenland Capital Management LP raised its position in Fidus Investment by 15.5% during the second quarter. Greenland Capital Management LP now owns 67,000 shares of the asset manager’s stock valued at $1,278,000 after purchasing an additional 9,000 shares in the last quarter. Secure Asset Management LLC raised its position in Fidus Investment by 15.4% during the second quarter. Secure Asset Management LLC now owns 23,728 shares of the asset manager’s stock valued at $452,000 after purchasing an additional 3,164 shares in the last quarter. Finally, Van ECK Associates Corp lifted its stake in Fidus Investment by 30.3% during the second quarter. Van ECK Associates Corp now owns 929,242 shares of the asset manager’s stock worth $17,721,000 after purchasing an additional 216,180 shares during the last quarter. 28.14% of the stock is currently owned by institutional investors and hedge funds.

About Fidus Investment

Fidus Investment Corporation (NASDAQ: FDUS) is a business development company that provides customized financing solutions to privately owned, lower middle-market companies in the United States. The company primarily invests in established businesses seeking capital for growth, acquisitions, recapitalizations, refinancings and other strategic initiatives.

Fidus invests through a combination of secured debt, subordinated debt and equity investments. Its portfolio may include first-lien and second-lien loans, mezzanine financing and equity interests, allowing the company to structure transactions based on the capital needs and risk profiles of its portfolio companies.