Van ECK Associates Corp Increases Stock Position in Fidus Investment Corporation $FDUS

Van ECK Associates Corp lifted its position in shares of Fidus Investment Corporation (NASDAQ:FDUS) by 30.3% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 929,242 shares of the asset manager’s stock after buying an additional 216,180 shares during the period. Van ECK Associates Corp’s holdings in Fidus Investment were worth $17,721,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in FDUS. Global Retirement Partners LLC purchased a new stake in Fidus Investment during the second quarter valued at about $621,000. Greenland Capital Management LP purchased a new position in shares of Fidus Investment in the 2nd quarter worth about $1,278,000. Palogic Value Management L.P. acquired a new position in shares of Fidus Investment in the 2nd quarter valued at about $1,347,000. Closed End Fund Advisors Inc. acquired a new position in shares of Fidus Investment in the 4th quarter valued at about $749,000. Finally, MQS Management LLC purchased a new stake in shares of Fidus Investment during the 4th quarter worth about $852,000. 28.14% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

FDUS has been the topic of a number of recent research reports. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $19.50 price target on shares of Fidus Investment in a research report on Monday, July 20th. Weiss Ratings reissued a “hold (c)” rating on shares of Fidus Investment in a research report on Wednesday, June 17th. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $19.50.

Fidus Investment Price Performance

Shares of FDUS opened at $19.70 on Monday. Fidus Investment Corporation has a 12 month low of $16.86 and a 12 month high of $21.67. The stock’s 50-day moving average is $19.67 and its two-hundred day moving average is $18.83. The stock has a market cap of $747.69 million, a PE ratio of 9.43 and a beta of 0.67.

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

Fidus Investment Announces Dividend

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 dividend on an annualized basis and a yield of 8.7%. The ex-dividend date is Tuesday, September 15th. Fidus Investment’s dividend payout ratio is currently 82.30%.

Fidus Investment Profile

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.