NewEdge Advisors LLC Reduces Stock Position in Fidus Investment Corporation $FDUS

Key Points

• NewEdge Advisors LLC has reduced its stake in Fidus Investment Corporation by 16.3%, now holding 101,502 shares valued at approximately $2,070,000.
• Fidus Investment has announced a quarterly dividend of $0.57, an increase from its previous dividend, representing a 10.6% dividend yield.
• Several analysts have recently updated their ratings on Fidus Investment, with one brokerage giving it a strong-buy rating, while another raised its price target to $21.50.

NewEdge Advisors LLC decreased its position in shares of Fidus Investment Corporation (NASDAQ:FDUS - Free Report) by 16.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 101,502 shares of the asset manager's stock after selling 19,708 shares during the quarter. NewEdge Advisors LLC owned 0.29% of Fidus Investment worth $2,070,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Northern Trust Corp boosted its position in Fidus Investment by 17.5% during the fourth quarter. Northern Trust Corp now owns 21,255 shares of the asset manager's stock worth $447,000 after purchasing an additional 3,165 shares in the last quarter. Ameriprise Financial Inc. boosted its position in Fidus Investment by 8.7% during the fourth quarter. Ameriprise Financial Inc. now owns 96,101 shares of the asset manager's stock worth $2,020,000 after purchasing an additional 7,721 shares in the last quarter. Palogic Value Management L.P. boosted its position in shares of Fidus Investment by 11.9% in the 4th quarter. Palogic Value Management L.P. now owns 63,822 shares of the asset manager's stock worth $1,342,000 after buying an additional 6,804 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of 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 buying an additional 1,000 shares in the last quarter. Finally, GraniteShares Advisors LLC boosted its position in shares of Fidus Investment by 6.5% in the 1st quarter. GraniteShares Advisors LLC now owns 124,249 shares of the asset manager's stock worth $2,533,000 after buying an additional 7,530 shares in the last quarter. Hedge funds and other institutional investors own 28.14% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently commented on FDUS shares. LADENBURG THALM/SH SH upgraded shares of Fidus Investment to a "strong-buy" rating in a research report on Wednesday, August 13th. Keefe, Bruyette & Woods upped their price target on shares of Fidus Investment from $20.00 to $21.50 and gave the company a "market perform" rating in a report on Monday, August 11th. Finally, B. Riley lowered Fidus Investment from a "buy" rating to a "neutral" rating and upped their target price for the company from $22.00 to $22.50 in a research note on Wednesday, August 13th. One research 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, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $22.00.

Fidus Investment Stock Performance

NASDAQ FDUS traded up $0.12 during trading hours on Wednesday, hitting $21.17. 69,709 shares of the company's stock were exchanged, compared to its average volume of 199,328. The business's 50 day moving average is $21.26 and its 200-day moving average is $20.41. The firm has a market capitalization of $748.99 million, a P/E ratio of 9.18 and a beta of 0.90. Fidus Investment Corporation has a 12-month low of $16.70 and a 12-month high of $23.55.

Fidus Investment (NASDAQ:FDUS - Get Free Report) last issued its 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 business had revenue of $39.97 million for the quarter, compared to the consensus estimate of $37.42 million. As a group, equities research analysts anticipate that Fidus Investment Corporation will post 2.28 EPS for the current fiscal 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 paid a dividend of $0.57 per share. This is a positive change from Fidus Investment's previous quarterly dividend of $0.11. The ex-dividend date of this dividend is Thursday, September 18th. This represents a $2.28 annualized dividend and a yield of 10.8%. Fidus Investment's payout ratio is presently 74.46%.

About Fidus Investment

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.