Golden State Equity Partners Invests $318,000 in Fidus Investment Corporation $FDUS

Key Points

• Golden State Equity Partners has made a new investment in Fidus Investment Corporation, purchasing 15,740 shares valued at approximately $318,000 in the second quarter.
• Fidus Investment recently declared an increase in its quarterly dividend, now set at $0.57 per share, which represents an annual yield of 11.2%.
• Analysts have mixed views on Fidus Investment, with one firm raising its price target to $22.50 but others downgrading the stock to a "neutral" rating.

Golden State Equity Partners bought a new position in Fidus Investment Corporation (NASDAQ:FDUS - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 15,740 shares of the asset manager's stock, valued at approximately $318,000.

Several other large investors have also recently modified their holdings of FDUS. Kingstone Capital Partners Texas LLC purchased a new position in shares of Fidus Investment in the second quarter worth about $549,138,000. Ethos Financial Group LLC purchased a new position in Fidus Investment during the first quarter valued at approximately $2,740,000. Baird Financial Group Inc. grew its stake in Fidus Investment by 46.1% during the first quarter. Baird Financial Group Inc. now owns 283,093 shares of the asset manager's stock valued at $5,772,000 after acquiring an additional 89,386 shares in the last quarter. Virtu Financial LLC purchased a new position in Fidus Investment during the first quarter valued at approximately $1,045,000. Finally, MQS Management LLC purchased a new position in Fidus Investment during the first quarter valued at approximately $936,000. Hedge funds and other institutional investors own 28.14% of the company's stock.

Fidus Investment Stock Down 0.2%

NASDAQ:FDUS opened at $20.33 on Wednesday. The company has a fifty day moving average of $21.21 and a 200 day moving average of $20.36. Fidus Investment Corporation has a 52 week low of $16.70 and a 52 week high of $23.55. The firm has a market capitalization of $719.28 million, a P/E ratio of 8.80 and a beta of 0.90.

Fidus Investment (NASDAQ:FDUS - Get Free Report) last posted its quarterly 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 company had revenue of $39.97 million during the quarter, compared to analyst estimates of $37.42 million. As a group, analysts anticipate that Fidus Investment Corporation will post 2.28 EPS for the current year.

Fidus Investment Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Thursday, September 18th will be issued a dividend of $0.57 per share. The ex-dividend date is Thursday, September 18th. This represents a $2.28 dividend on an annualized basis and a yield of 11.2%. This is an increase from Fidus Investment's previous quarterly dividend of $0.11. Fidus Investment's dividend payout ratio (DPR) is currently 74.46%.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. B. Riley cut shares of Fidus Investment from a "buy" rating to a "neutral" rating and boosted their price objective for the company from $22.00 to $22.50 in a research note on Wednesday, August 13th. LADENBURG THALM/SH SH raised shares of Fidus Investment to a "strong-buy" rating in a research note on Wednesday, August 13th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Fidus Investment from $20.00 to $21.50 and gave the company a "market perform" rating in a research note on Monday, August 11th. One investment analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Fidus Investment presently has a consensus rating of "Moderate Buy" and a consensus target price of $22.00.

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.

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