Van ECK Associates Corp Boosts Holdings in Fidus Investment Corporation $FDUS

Key Points

• Van ECK Associates increased its Fidus Investment stake by 30.3% in the second quarter, acquiring 216,180 shares for a total holding of 929,242 shares worth approximately $17.7 million. Institutional investors collectively own 28.14% of FDUS.
• Analysts maintain a consensus “Hold” rating with a $19.50 target price. FDUS recently traded at $19.70, while quarterly earnings of $0.50 per share matched estimates, though revenue of $32.55 million fell below the $42.37 million forecast.
• Fidus Investment declared a quarterly dividend of $0.43 per share, equivalent to $1.72 annually and an 8.7% yield. The dividend is payable September 29 to shareholders of record as of September 15.

Van ECK Associates Corp increased its stake in shares of Fidus Investment Corporation (NASDAQ:FDUS - Free Report) by 30.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 929,242 shares of the asset manager's stock after acquiring an additional 216,180 shares during the quarter. Van ECK Associates Corp owned about 2.45% of Fidus Investment worth $17,721,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Beacon Pointe Advisors LLC acquired a new stake in shares of Fidus Investment during the second quarter worth about $2,133,000. WNY Asset Management LLC purchased a new position in Fidus Investment during the 2nd quarter worth approximately $193,000. Palogic Value Management L.P. acquired a new position in Fidus Investment during the second quarter worth approximately $1,347,000. Bank of America Corp DE purchased a new stake in Fidus Investment in the second quarter valued at approximately $738,000. Finally, Legal & General Group Plc purchased a new stake in Fidus Investment in the second quarter valued at approximately $5,921,000. 28.14% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

FDUS has been the topic of a number of research reports. Weiss Ratings restated a "hold (c)" rating on shares of Fidus Investment in a research report on Wednesday, June 17th. Keefe, Bruyette & Woods reiterated a "market perform" rating and set a $19.50 target price on shares of Fidus Investment in a research note on Monday, July 20th. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $19.50.

Fidus Investment Stock Performance

FDUS stock opened at $19.70 on Monday. The company has a 50 day moving average price of $19.67 and a two-hundred day moving average price of $18.83. The stock has a market capitalization of $747.69 million, a P/E ratio of 9.43 and a beta of 0.67. Fidus Investment Corporation has a one year low of $16.86 and a one year high of $21.67.

Fidus Investment (NASDAQ:FDUS - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The asset manager reported $0.50 earnings per share for the quarter, hitting analysts' consensus estimates of $0.50. The company had revenue of $32.55 million for the quarter, compared to analyst estimates of $42.37 million. Fidus Investment had a return on equity of 10.87% and a net margin of 45.36%. Research analysts forecast that Fidus Investment Corporation will post 2.16 earnings per share for the current fiscal year.

Fidus Investment Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th will be paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 8.7%. The ex-dividend date of this dividend is Tuesday, September 15th. Fidus Investment's dividend payout ratio (DPR) is presently 82.30%.

Fidus Investment Company Profile

Fidus Investment Corporation NASDAQ: FDUS is a closed-end, externally managed business development company (BDC) that provides specialized financing solutions to U.S. middle-market companies. Operated by Fidus Investment Advisors, LLC, a registered investment adviser, the company is regulated under the Investment Company Act of 1940 and trades on the Nasdaq Capital Market.

The firm focuses on structuring senior secured and unitranche loans, mezzanine debt and equity investments for established businesses across a range of industries.

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