Envestnet Asset Management Inc. Purchases 23,478 Shares of Fidus Investment Corporation (NASDAQ:FDUS)

Envestnet Asset Management Inc. lifted its holdings in Fidus Investment Corporation (NASDAQ:FDUS - Free Report) by 7.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 324,277 shares of the asset manager's stock after acquiring an additional 23,478 shares during the period. Envestnet Asset Management Inc. owned 0.93% of Fidus Investment worth $6,612,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. ORG Partners LLC bought a new position in shares of Fidus Investment in the first quarter worth about $29,000. Transce3nd LLC bought a new position in Fidus Investment during the fourth quarter valued at approximately $32,000. Blair William & Co. IL purchased a new position in Fidus Investment during the 4th quarter valued at approximately $208,000. Wealth Enhancement Advisory Services LLC increased its stake in Fidus Investment by 8.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 13,267 shares of the asset manager's stock worth $279,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Morey & Quinn Wealth Partners LLC bought a new stake in Fidus Investment in the 4th quarter worth approximately $311,000. Institutional investors own 28.14% of the company's stock.

Fidus Investment Stock Performance

FDUS stock traded down $0.06 during midday trading on Friday, reaching $21.40. 112,418 shares of the company traded hands, compared to its average volume of 131,865. Fidus Investment Corporation has a 52-week low of $16.70 and a 52-week high of $23.55. The business has a 50 day moving average of $20.54 and a 200-day moving average of $20.73. The firm has a market capitalization of $743.22 million, a price-to-earnings ratio of 9.15 and a beta of 0.92.

Fidus Investment (NASDAQ:FDUS - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The asset manager reported $0.54 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.53 by $0.01. Fidus Investment had a return on equity of 11.48% and a net margin of 52.59%. The business had revenue of $36.50 million for the quarter, compared to the consensus estimate of $35.61 million. Research analysts anticipate that Fidus Investment Corporation will post 2.28 earnings per share for the current year.

Fidus Investment Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 25th. Stockholders of record on Friday, June 13th were issued a $0.54 dividend. The ex-dividend date was Friday, June 13th. This represents a $2.16 annualized dividend and a dividend yield of 10.09%. Fidus Investment's payout ratio is 73.50%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. LADENBURG THALM/SH SH raised Fidus Investment from a "hold" rating to a "strong-buy" rating in a research note on Friday, May 9th. B. Riley initiated coverage on Fidus Investment in a research note on Tuesday, May 13th. They issued a "buy" rating and a $22.00 price objective on the stock. Finally, Keefe, Bruyette & Woods decreased their price objective on Fidus Investment from $21.00 to $20.00 and set a "market perform" rating on the stock in a research report on Tuesday, April 8th.

Fidus Investment 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.