Fidus Investment (NASDAQ:FDUS) Price Target Raised to $21.50

Key Points

• Fidus Investment's price target was raised from $20.00 to $21.50 by Keefe, Bruyette & Woods, indicating a potential upside of 0.61% from its current price.
• The company reported $0.57 earnings per share for the last quarter, exceeding expectations and contributing to an anticipated 2.28 EPS for the current fiscal year.
• Institutional investors have increased their stakes in Fidus Investment, with several funds acquiring new positions in the first and second quarters.

Fidus Investment (NASDAQ:FDUS - Get Free Report) had its price objective hoisted by stock analysts at Keefe, Bruyette & Woods from $20.00 to $21.50 in a research report issued on Monday,Benzinga reports. The brokerage presently has a "market perform" rating on the asset manager's stock. Keefe, Bruyette & Woods' price objective suggests a potential upside of 0.61% from the stock's current price.

FDUS has been the subject of several other reports. LADENBURG THALM/SH SH upgraded Fidus Investment from a "hold" rating to a "strong-buy" rating in a research note on Friday, May 9th. B. Riley began coverage on Fidus Investment in a report on Tuesday, May 13th. They issued a "buy" rating and a $22.00 price objective for the company.

Fidus Investment Price Performance

FDUS opened at $21.37 on Monday. The business has a fifty day simple moving average of $20.64 and a 200 day simple moving average of $20.67. The company has a market capitalization of $742.18 million, a PE ratio of 9.25 and a beta of 0.95. Fidus Investment has a 1 year low of $16.70 and a 1 year high of $23.55.

Fidus Investment (NASDAQ:FDUS - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The asset manager reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.04. The business had revenue of $39.97 million during the quarter, compared to the consensus estimate of $37.42 million. Fidus Investment had a return on equity of 11.64% and a net margin of 51.88%. Equities analysts anticipate that Fidus Investment will post 2.28 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Fidus Investment

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quarry LP acquired a new position in Fidus Investment in the 1st quarter valued at $28,000. ORG Partners LLC acquired a new position in Fidus Investment in the 1st quarter valued at $29,000. Transce3nd LLC acquired a new position in Fidus Investment in the 4th quarter valued at $32,000. AdvisorNet Financial Inc raised its holdings in shares of Fidus Investment by 137.4% during the 2nd quarter. AdvisorNet Financial Inc now owns 1,728 shares of the asset manager's stock worth $35,000 after buying an additional 1,000 shares in the last quarter. Finally, First Horizon Advisors Inc. raised its holdings in shares of Fidus Investment by 154.8% during the 2nd quarter. First Horizon Advisors Inc. now owns 2,658 shares of the asset manager's stock worth $54,000 after buying an additional 1,615 shares in the last quarter. 28.14% of the stock is owned by institutional investors and hedge funds.

About Fidus Investment

Fidus Investment Corporation is a business development company. It specializing in leveraged buyouts, refinancings, change of ownership transactions, recapitalizations, strategic acquisitions, mezzanine, growth capital, business expansion, lower middle market investments, debt investments, subordinated and second lien loans, senior secured and unitranche debt, preferred equity, warrants, subordinated debt, senior subordinated notes, junior secured loans, and unitranche loans.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.