BlackRock Inc. Purchases New Position in Fidus Investment Corporation $FDUS

Key Points

• BlackRock acquired 138,053 shares of Fidus Investment during the second quarter, worth approximately $2.63 million and representing a 0.36% stake. Institutional investors collectively own 28.14% of the company.
• Fidus Investment reported quarterly EPS of $0.50, in line with analyst expectations, but revenue of $32.55 million fell short of the $42.37 million estimate.
• The company declared a quarterly dividend of $0.43 per share, equivalent to an annualized $1.72 payout and an 8.8% yield. Analysts maintain a consensus “Hold” rating with a $19.50 price target.

BlackRock Inc. acquired a new position in shares of Fidus Investment Corporation (NASDAQ:FDUS - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 138,053 shares of the asset manager's stock, valued at approximately $2,633,000. BlackRock Inc. owned approximately 0.36% of Fidus Investment at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Global Retirement Partners LLC acquired a new stake in Fidus Investment during the 2nd quarter worth $621,000. Closed End Fund Advisors Inc. purchased a new position in shares of Fidus Investment during the fourth quarter worth about $749,000. MQS Management LLC purchased a new position in shares of Fidus Investment during the fourth quarter worth about $852,000. Legal & General Group Plc increased its position in shares of Fidus Investment by 18.6% during the fourth quarter. Legal & General Group Plc now owns 252,442 shares of the asset manager's stock worth $4,868,000 after purchasing an additional 39,644 shares in the last quarter. Finally, Independent Financial Group LLC acquired a new stake in shares of Fidus Investment during the first quarter worth about $539,000. Hedge funds and other institutional investors own 28.14% of the company's stock.

Fidus Investment Stock Up 0.3%

Shares of NASDAQ:FDUS opened at $19.63 on Friday. The company has a market cap of $744.96 million, a price-to-earnings ratio of 9.39 and a beta of 0.67. The firm's 50-day simple moving average is $19.81 and its 200-day simple moving average is $18.85. Fidus Investment Corporation has a fifty-two week low of $16.86 and a fifty-two week high of $21.67.

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

Fidus Investment Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th will be paid a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 8.8%. The ex-dividend date of this dividend is Tuesday, September 15th. Fidus Investment's dividend payout ratio is 82.30%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Weiss Ratings raised Fidus Investment from a "hold (c)" rating to a "hold (c+)" rating in a research report on Monday, August 31st. 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. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Fidus Investment presently has a consensus rating of "Hold" and a consensus target price of $19.50.

About Fidus Investment

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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