Keefe, Bruyette & Woods Forecasts Strong Price Appreciation for Fidus Investment (NASDAQ:FDUS) Stock

Key Points

• Keefe, Bruyette & Woods raised its price target for Fidus Investment to $20 from $19.50 but kept a “market perform” rating, implying only 1.37% upside from the prior close. Analysts’ consensus rating remains “Hold,” with an average target of $20.
• Fidus reported quarterly earnings of $0.54 per share, beating the $0.51 estimate, and revenue of $45.91 million, above expectations of $44.31 million.
• FDUS traded at $19.73 on Monday, within its 52-week range of $16.86 to $20.78.

Fidus Investment (NASDAQ:FDUS - Get Free Report) had its target price raised by investment analysts at Keefe, Bruyette & Woods from $19.50 to $20.00 in a note issued to investors on Monday, Benzinga reports. The brokerage currently has a "market perform" rating on the asset manager's stock. Keefe, Bruyette & Woods's price target suggests a potential upside of 1.37% from the stock's previous close.

Separately, Weiss Ratings upgraded Fidus Investment from a "hold (c)" rating to a "hold (c+)" rating in a research note on Monday, August 31st. Two analysts have rated the stock with a Hold rating. Based on data from MarketBeat, Fidus Investment presently has a consensus rating of "Hold" and an average target price of $20.00.

Fidus Investment Stock Performance

NASDAQ FDUS traded up $0.08 during trading hours on Monday, hitting $19.73. The company had a trading volume of 399,247 shares, compared to its average volume of 303,955. Fidus Investment has a 1-year low of $16.86 and a 1-year high of $20.78. The company has a market cap of $748.83 million, a PE ratio of 9.52 and a beta of 0.71. The business has a 50 day moving average of $19.24 and a 200-day moving average of $18.96.

Fidus Investment (NASDAQ:FDUS - Get Free Report) last posted its earnings results on Thursday, November 5th. The asset manager reported $0.54 EPS for the quarter, topping analysts' consensus estimates of $0.51 by $0.03. Fidus Investment had a return on equity of 11.08% and a net margin of 43.83%. The business had revenue of $45.91 million for the quarter, compared to analysts' expectations of $44.31 million. Sell-side analysts expect that Fidus Investment will post 2.16 earnings per share for the current fiscal year.

Institutional Trading of Fidus Investment

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Riverbridge Partners LLC raised its position in Fidus Investment by 35.5% during the 3rd quarter. Riverbridge Partners LLC now owns 150,241 shares of the asset manager's stock worth $2,895,000 after buying an additional 39,372 shares during the last quarter. Commonwealth Equity Services LLC lifted its stake in shares of Fidus Investment by 5.7% in the 3rd quarter. Commonwealth Equity Services LLC now owns 38,370 shares of the asset manager's stock worth $739,000 after acquiring an additional 2,084 shares during the period. Laurel Wealth Advisors LLC purchased a new stake in shares of Fidus Investment in the third quarter valued at about $30,000. Secure Asset Management LLC boosted its holdings in shares of Fidus Investment by 4.9% in the third quarter. Secure Asset Management LLC now owns 24,883 shares of the asset manager's stock valued at $479,000 after acquiring an additional 1,155 shares in the last quarter. Finally, Sound Income Strategies LLC boosted its holdings in shares of Fidus Investment by 2,909.2% in the third quarter. Sound Income Strategies LLC now owns 2,193,829 shares of the asset manager's stock valued at $41,880,000 after acquiring an additional 2,120,925 shares in the last quarter. 28.14% of the stock is owned by hedge funds and other institutional investors.

About Fidus Investment

Fidus Investment Corporation NASDAQ: FDUS is a business development company that provides financing to privately owned, lower middle-market companies in the United States. The company supports businesses that may have limited access to traditional bank financing and seeks to generate income through a portfolio of corporate investments.

Fidus primarily invests in secured debt, including first-lien and second-lien loans, as well as mezzanine debt and, in some cases, equity interests. Its portfolio companies operate across a range of industries, allowing Fidus to provide customized financing for acquisitions, recapitalizations, growth initiatives and other corporate purposes.

Fidus Investment Corporation is externally managed by Fidus Investment Advisors, LLC.

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