Fidus Investment (NASDAQ:FDUS) Issues Quarterly Earnings Results

Key Points

• Fidus Investment met earnings expectations with quarterly EPS of $0.50, matching consensus, while revenue of $32.55 million fell short of the $42.37 million estimate.
• Shares declined 1.1% to $20.35 after the results. The stock has a market capitalization of approximately $772 million and trades at a price-to-earnings ratio of 9.74.
• The company declared a quarterly dividend of $0.43, equivalent to $1.72 annually and an 8.5% yield. Analysts maintain a “Moderate Buy” consensus with a $21.00 target price.

Fidus Investment (NASDAQ:FDUS - Get Free Report) released its earnings results on Thursday. The asset manager reported $0.50 earnings per share for the quarter, meeting analysts' consensus estimates of $0.50, FiscalAI reports. Fidus Investment had a return on equity of 10.90% and a net margin of 45.36%.The firm had revenue of $32.55 million during the quarter, compared to the consensus estimate of $42.37 million.

Fidus Investment Stock Down 1.1%

Shares of FDUS traded down $0.23 during midday trading on Friday, hitting $20.35. The company's stock had a trading volume of 1,646,890 shares, compared to its average volume of 259,980. Fidus Investment has a one year low of $16.86 and a one year high of $21.67. The stock has a market capitalization of $772.28 million, a price-to-earnings ratio of 9.74 and a beta of 0.67. The company's fifty day simple moving average is $19.33 and its two-hundred day simple moving average is $18.79.

Fidus Investment Announces Dividend

The firm also recently announced 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 dividend yield of 8.5%. The ex-dividend date of this dividend is Tuesday, September 15th. Fidus Investment's dividend payout ratio (DPR) is currently 75.44%.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and issued a $19.50 price target on shares of Fidus Investment in a research note on Monday, July 20th. Weiss Ratings reiterated a "hold (c)" rating on shares of Fidus Investment in a research note on Wednesday, June 17th. One research analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Fidus Investment presently has a consensus rating of "Moderate Buy" and a consensus target price of $21.00.

Institutional Trading of Fidus Investment

Several large investors have recently bought and sold shares of the business. BNP Paribas Financial Markets raised its stake in Fidus Investment by 5,750.0% during the third quarter. BNP Paribas Financial Markets now owns 2,223 shares of the asset manager's stock worth $45,000 after acquiring an additional 2,185 shares in the last quarter. Advisory Services Network LLC bought a new position in shares of Fidus Investment in the third quarter worth about $61,000. JPMorgan Chase & Co. boosted its stake in shares of Fidus Investment by 99.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 8,793 shares of the asset manager's stock valued at $178,000 after purchasing an additional 4,395 shares in the last quarter. Blair William & Co. IL bought a new stake in shares of Fidus Investment during the 3rd quarter valued at approximately $200,000. Finally, Tudor Investment Corp ET AL bought a new stake in shares of Fidus Investment during the 4th quarter valued at approximately $208,000. 28.14% of the stock is owned by institutional investors and hedge funds.

Fidus Investment Company 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.

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