NewEdge Advisors LLC Decreases Stock Holdings 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 disclosure with the SEC. The firm owned 101,502 shares of the asset manager's stock after selling 19,708 shares during the period. NewEdge Advisors LLC owned 0.29% of Fidus Investment worth $2,070,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of FDUS. Ethos Financial Group LLC purchased a new position in shares of Fidus Investment during the first quarter valued at approximately $2,740,000. Baird Financial Group Inc. lifted its stake in shares of 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 buying an additional 89,386 shares during the period. Virtu Financial LLC purchased a new position in shares of Fidus Investment during the first quarter valued at approximately $1,045,000. MQS Management LLC purchased a new position in shares of Fidus Investment during the first quarter valued at approximately $936,000. Finally, Cetera Investment Advisers lifted its stake in shares of Fidus Investment by 10.6% during the first quarter. Cetera Investment Advisers now owns 335,498 shares of the asset manager's stock valued at $6,841,000 after buying an additional 32,077 shares during the period. Hedge funds and other institutional investors own 28.14% of the company's stock.

Analyst Ratings Changes

Several brokerages recently issued reports on FDUS. LADENBURG THALM/SH SH raised shares of Fidus Investment to a "strong-buy" rating in a research note on Wednesday, August 13th. B. Riley lowered shares of Fidus Investment from a "buy" rating to a "neutral" rating and upped their price target for the stock from $22.00 to $22.50 in a research report on Wednesday, August 13th. Finally, Keefe, Bruyette & Woods upped 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 report on Monday, August 11th. One research analyst has rated the stock with a Strong Buy rating and two have assigned 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 an average price target of $22.00.

Fidus Investment Stock Up 0.9%

Fidus Investment stock opened at $21.51 on Friday. Fidus Investment Corporation has a 52-week low of $16.70 and a 52-week high of $23.55. The firm has a fifty day moving average of $21.24 and a 200-day moving average of $20.47. The firm has a market capitalization of $761.02 million, a P/E ratio of 9.31 and a beta of 0.90.

Fidus Investment (NASDAQ:FDUS - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The asset manager reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate 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. On average, research analysts expect that Fidus Investment Corporation will post 2.28 EPS for the current fiscal year.

Fidus Investment Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Thursday, September 18th will be given a $0.57 dividend. The ex-dividend date of this dividend is Thursday, September 18th. This is an increase from Fidus Investment's previous quarterly dividend of $0.11. This represents a $2.28 annualized dividend and a dividend yield of 10.6%. Fidus Investment's dividend payout ratio (DPR) is currently 74.46%.

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.

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