Fidus Investment Corporation $FDUS Stock: Sound Income Strategies LLC Grows Holdings

Key Points

• Sound Income Strategies LLC increased its Fidus Investment stake by 2,909.2% in the third quarter, reaching 2.19 million shares worth about $41.9 million, or 5.78% of FDUS.
• FDUS shares traded at $19.06, with a market capitalization of approximately $723 million. Analysts maintain a consensus “Hold” rating and a $19.50 price target.
• Fidus declared a quarterly dividend of $0.43 per share, equivalent to an annualized $1.72 payout and a 9.0% yield; analysts expect full-year EPS of $2.16.

Sound Income Strategies LLC increased its position in Fidus Investment Corporation (NASDAQ:FDUS - Free Report) by 2,909.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,193,829 shares of the asset manager's stock after buying an additional 2,120,925 shares during the quarter. Fidus Investment comprises about 1.0% of Sound Income Strategies LLC's investment portfolio, making the stock its 9th biggest position. Sound Income Strategies LLC owned 5.78% of Fidus Investment worth $41,880,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Sage Investment Counsel LLC increased its stake in Fidus Investment by 8.3% during the first quarter. Sage Investment Counsel LLC now owns 13,070 shares of the asset manager's stock worth $228,000 after acquiring an additional 1,000 shares during the last quarter. Novare Capital Management LLC lifted its stake in shares of Fidus Investment by 0.6% in the 1st quarter. Novare Capital Management LLC now owns 206,114 shares of the asset manager's stock valued at $3,591,000 after purchasing an additional 1,225 shares in the last quarter. Hilton Head Capital Partners LLC acquired a new position in shares of Fidus Investment in the 4th quarter valued at about $30,000. Burk Holdings LLC purchased a new stake in shares of Fidus Investment during the 2nd quarter worth about $47,000. Finally, Apollon Wealth Management LLC grew its holdings in shares of Fidus Investment by 13.5% during the 1st quarter. Apollon Wealth Management LLC now owns 20,877 shares of the asset manager's stock worth $364,000 after purchasing an additional 2,481 shares during the period. Institutional investors and hedge funds own 28.14% of the company's stock.

Fidus Investment Stock Performance

Shares of NASDAQ:FDUS traded down $0.03 during mid-day trading on Friday, hitting $19.06. 197,848 shares of the company traded hands, compared to its average volume of 309,832. The firm's 50 day simple moving average is $19.57 and its 200 day simple moving average is $19.04. The firm has a market cap of $723.33 million, a P/E ratio of 9.12 and a beta of 0.69. Fidus Investment Corporation has a 52-week low of $16.86 and a 52-week high of $21.15.

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

Fidus Investment Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th were paid a dividend of $0.43 per share. The ex-dividend date of this dividend was Tuesday, September 15th. This represents a $1.72 annualized dividend and a yield of 9.0%. Fidus Investment's payout ratio is 82.30%.

Wall Street Analyst Weigh In

Several research analysts recently commented on FDUS shares. Weiss Ratings upgraded shares of Fidus Investment from a "hold (c)" rating to a "hold (c+)" rating in a report on Monday, August 31st. Keefe, Bruyette & Woods reissued a "market perform" rating and issued a $19.50 price objective on shares of Fidus Investment in a research report on Monday, July 20th. Two investment analysts have rated the stock with a Hold rating. According to data from MarketBeat.com, Fidus Investment currently has an average rating of "Hold" and a consensus price target of $19.50.

Fidus Investment Company Profile

Fidus Investment Corp. is a business development company that provides financing to privately held, lower-middle-market companies in the United States. The company seeks to support businesses that may have limited access to traditional bank financing and works with management teams, private equity sponsors and other financial partners to structure customized investment solutions.

Fidus primarily invests in debt securities, including senior secured and subordinated loans, and may also make equity investments such as warrants or other equity interests.

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