Fidus Investment (NASDAQ:FDUS) Upgraded by Keefe, Bruyette & Woods to Outperform Rating

Key Points

• Fidus Investment has been upgraded by Keefe, Bruyette & Woods from a "market perform" to an "outperform" rating, with a price target of $21.50, indicating a potential upside of 5.55% from its previous close.
• Recent earnings results show Fidus Investment reported $0.57 EPS, exceeding analysts' expectations, with revenue of $39.97 million for the quarter.
• Institutional investors have increased their stakes in Fidus Investment, with hedge funds now owning 28.14% of the company's stock.

Fidus Investment (NASDAQ:FDUS - Get Free Report) was upgraded by investment analysts at Keefe, Bruyette & Woods from a "market perform" rating to an "outperform" rating in a research report issued to clients and investors on Monday,Finviz reports. The brokerage currently has a $21.50 price objective on the asset manager's stock. Keefe, Bruyette & Woods' target price would indicate a potential upside of 5.55% from the stock's previous close.

FDUS has been the topic of a number of other reports. Weiss Ratings reiterated a "buy (b)" rating on shares of Fidus Investment in a report on Saturday, September 27th. B. Riley lowered Fidus Investment from a "buy" rating to a "neutral" rating and lifted their target price for the company from $22.00 to $22.50 in a research note on Wednesday, August 13th. Finally, LADENBURG THALM/SH SH upgraded shares of Fidus Investment to a "strong-buy" rating in a report on Wednesday, August 13th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, Fidus Investment has an average rating of "Buy" and an average target price of $22.00.

Fidus Investment Price Performance

NASDAQ:FDUS opened at $20.37 on Monday. Fidus Investment has a 1-year low of $16.70 and a 1-year high of $23.55. The company has a 50-day moving average of $21.01 and a 200 day moving average of $20.30. The firm has a market cap of $720.69 million, a PE ratio of 8.82 and a beta of 0.88.

Fidus Investment (NASDAQ:FDUS - Get Free Report) last posted its earnings results on Thursday, August 7th. The asset manager reported $0.57 EPS for the quarter, beating analysts' consensus estimates of $0.53 by $0.04. Fidus Investment had a net margin of 51.88% and a return on equity of 11.52%. The business had revenue of $39.97 million for the quarter, compared to the consensus estimate of $37.42 million. Sell-side analysts anticipate that Fidus Investment will post 2.28 EPS for the current fiscal year.

Institutional Investors Weigh In On Fidus Investment

Hedge funds and other institutional investors have recently made changes to their positions in the company. Kingstone Capital Partners Texas LLC acquired a new position in shares of Fidus Investment in the 2nd quarter valued at $549,138,000. Invesco Ltd. raised its position in shares of Fidus Investment by 2.2% in the second quarter. Invesco Ltd. now owns 446,703 shares of the asset manager's stock worth $9,023,000 after acquiring an additional 9,637 shares during the period. Cetera Investment Advisers boosted its stake in shares of Fidus Investment by 10.4% during the 2nd quarter. Cetera Investment Advisers now owns 370,335 shares of the asset manager's stock worth $7,481,000 after acquiring an additional 34,837 shares in the last quarter. Envestnet Asset Management Inc. grew its position in shares of Fidus Investment by 10.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 359,415 shares of the asset manager's stock valued at $7,260,000 after acquiring an additional 35,138 shares during the period. Finally, Columbus Macro LLC increased its stake in shares of Fidus Investment by 12.1% in the 2nd quarter. Columbus Macro LLC now owns 322,543 shares of the asset manager's stock valued at $6,515,000 after purchasing an additional 34,921 shares in the last quarter. Institutional investors and hedge funds own 28.14% of the company's stock.

Fidus Investment Company Profile

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.