Invesco Ltd. Decreases Stock Position in Fidus Investment Corporation $FDUS

Key Points

• Invesco Ltd. reduced its stake in Fidus Investment Corporation by 19.1%, selling 103,400 shares during the 1st quarter, bringing its ownership to approximately 1.26% of the company valued at $8.9 million.
• Analysts have set a consensus rating of "Moderate Buy" for Fidus Investment with an average price target of $22.00, including a recent upgrade to "strong-buy" by LADENBURG THALM/SH SH.
• Fidus Investment recently announced a significant dividend increase, paying $0.57 per share on September 25th, up from the previous $0.11 dividend.

Invesco Ltd. decreased its holdings in shares of Fidus Investment Corporation (NASDAQ:FDUS - Free Report) by 19.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 437,066 shares of the asset manager's stock after selling 103,400 shares during the quarter. Invesco Ltd. owned approximately 1.26% of Fidus Investment worth $8,912,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. ORG Partners LLC acquired a new position in Fidus Investment in the 1st quarter valued at $29,000. Private Advisor Group LLC grew its holdings in Fidus Investment by 17.9% in the 1st quarter. Private Advisor Group LLC now owns 11,411 shares of the asset manager's stock valued at $233,000 after buying an additional 1,732 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings 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 valued at $279,000 after buying an additional 1,000 shares in the last quarter. Stratos Wealth Partners LTD. grew its holdings in Fidus Investment by 28.8% in the 1st quarter. Stratos Wealth Partners LTD. now owns 16,200 shares of the asset manager's stock valued at $330,000 after buying an additional 3,626 shares in the last quarter. Finally, Wells Fargo & Company MN grew its holdings in Fidus Investment by 32.6% in the 4th quarter. Wells Fargo & Company MN now owns 18,309 shares of the asset manager's stock valued at $385,000 after buying an additional 4,500 shares in the last quarter. Institutional investors and hedge funds own 28.14% of the company's stock.

Fidus Investment Stock Up 0.3%

Shares of NASDAQ:FDUS traded up $0.06 during trading on Thursday, hitting $21.44. 199,016 shares of the company were exchanged, compared to its average volume of 198,455. The business's 50 day moving average is $20.94 and its 200-day moving average is $20.59. The company has a market capitalization of $758.55 million, a P/E ratio of 9.28 and a beta of 0.95. Fidus Investment Corporation has a 1-year low of $16.70 and a 1-year high of $23.55.

Fidus Investment (NASDAQ:FDUS - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The asset manager reported $0.57 EPS for the quarter, topping 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 for the quarter, compared to analyst estimates of $37.42 million. As a group, sell-side analysts anticipate that Fidus Investment Corporation will post 2.28 earnings per share for the current year.

Fidus Investment Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Thursday, September 18th will be given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 10.6%. The ex-dividend date is Thursday, September 18th. This is a boost from Fidus Investment's previous quarterly dividend of $0.11. Fidus Investment's dividend payout ratio is presently 74.46%.

Analysts Set New Price Targets

FDUS has been the subject of several analyst reports. B. Riley cut Fidus Investment from a "buy" rating to a "neutral" rating and lifted their price objective for the company from $22.00 to $22.50 in a report on Wednesday, August 13th. LADENBURG THALM/SH SH raised Fidus Investment to a "strong-buy" rating in a report on Wednesday, August 13th. Finally, Keefe, Bruyette & Woods raised their target price on Fidus Investment from $20.00 to $21.50 and gave the company a "market perform" rating in a report on Monday, August 11th. One analyst has rated the stock with a Strong Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Fidus Investment presently has an average 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.