Mackenzie Financial Corp Purchases Shares of 19,710 Fidus Investment Corporation (NASDAQ:FDUS)

Key Points

• Mackenzie Financial Corp acquired 19,710 shares of Fidus Investment Corporation, valuing approximately $402,000, representing about 0.06% of the company's stock.
• Fidus Investment recently reported an EPS of $0.57, exceeding estimates, and announced a substantial $0.57 dividend with a yield of 800% to be paid to investors of record on September 18th.
• Wall Street analysts have shown positive sentiment towards Fidus Investment, with B. Riley initiating coverage with a "buy" rating and a price target of $22.00.

Mackenzie Financial Corp acquired a new stake in Fidus Investment Corporation (NASDAQ:FDUS - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The fund acquired 19,710 shares of the asset manager's stock, valued at approximately $402,000. Mackenzie Financial Corp owned 0.06% of Fidus Investment as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of FDUS. LPL Financial LLC grew its position in shares of Fidus Investment by 3.4% in the 4th quarter. LPL Financial LLC now owns 79,515 shares of the asset manager's stock valued at $1,671,000 after purchasing an additional 2,603 shares during the period. Franklin Resources Inc. grew its position in shares of Fidus Investment by 5.9% in the 4th quarter. Franklin Resources Inc. now owns 123,301 shares of the asset manager's stock valued at $2,592,000 after purchasing an additional 6,829 shares during the period. Wells Fargo & Company MN grew its position in shares of 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 purchasing an additional 4,500 shares during the period. Envestnet Asset Management Inc. boosted its position in Fidus Investment by 20.2% during the 4th quarter. Envestnet Asset Management Inc. now owns 300,799 shares of the asset manager's stock worth $6,323,000 after acquiring an additional 50,447 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Fidus Investment during the 4th quarter worth approximately $20,539,000. 28.14% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. LADENBURG THALM/SH SH raised shares of Fidus Investment from a "hold" rating to a "strong-buy" rating in a research note on Friday, May 9th. Keefe, Bruyette & Woods raised their price target on shares of Fidus Investment from $20.00 to $21.50 and gave the stock a "market perform" rating in a research note on Monday. Finally, B. Riley assumed coverage on shares of Fidus Investment in a research note on Tuesday, May 13th. They set a "buy" rating and a $22.00 price target for the company.

Fidus Investment Price Performance

Shares of FDUS traded up $0.11 during mid-day trading on Tuesday, hitting $21.39. 69,688 shares of the company's stock were exchanged, compared to its average volume of 199,298. The company has a market cap of $742.87 million, a PE ratio of 9.28 and a beta of 0.95. Fidus Investment Corporation has a 52 week low of $16.70 and a 52 week high of $23.55. The company has a 50-day simple moving average of $20.66 and a 200 day simple moving average of $20.67.

Fidus Investment (NASDAQ:FDUS - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The asset manager reported $0.57 EPS for the quarter, beating the consensus estimate of $0.53 by $0.04. The company had revenue of $39.97 million during the quarter, compared to the consensus estimate of $37.42 million. Fidus Investment had a return on equity of 11.64% and a net margin of 51.88%. On average, 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 disclosed a -- dividend, which will be paid on Thursday, September 25th. Stockholders of record on Thursday, September 18th will be issued a $0.57 dividend. This represents a dividend yield of 800.0%. The ex-dividend date of this dividend is Thursday, September 18th. This is a boost from Fidus Investment's previous -- dividend of $0.11. Fidus Investment's payout ratio is currently 74.46%.

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.