Fidus Investment (NASDAQ:FDUS) Share Price Crosses Above 200 Day Moving Average - Here's Why

Key Points

• Fidus Investment shares crossed above their 200-day moving average, reaching $19.46 and last trading at $19.30, compared with the $18.94 average.
• Analysts maintain a consensus “Hold” rating with an average price target of $19.50. The company met quarterly EPS expectations at $0.50, though revenue of $32.55 million fell short of the $42.37 million estimate.
• Fidus declared a quarterly dividend of $0.43 per share, or $1.72 annually, representing an approximately 8.9% yield; institutional investors own 28.14% of the stock.

Fidus Investment Corporation (NASDAQ:FDUS - Get Free Report) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $18.94 and traded as high as $19.46. Fidus Investment shares last traded at $19.30, with a volume of 189,657 shares trading hands.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and issued a $19.50 target price on shares of Fidus Investment in a report on Monday, July 20th. Weiss Ratings raised Fidus Investment from a "hold (c)" rating to a "hold (c+)" rating in a report on Monday, August 31st. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $19.50.

Fidus Investment Trading Down 0.3%

The company has a market capitalization of $732.43 million, a P/E ratio of 9.23 and a beta of 0.67. The stock has a 50 day moving average price of $19.78 and a 200 day moving average price of $18.94.

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

Fidus Investment Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th will be given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 8.9%. The ex-dividend date is Tuesday, September 15th. Fidus Investment's dividend payout ratio (DPR) is 82.30%.

Hedge Funds Weigh In On Fidus Investment

A number of hedge funds have recently bought and sold shares of FDUS. Integrated Wealth Concepts LLC bought a new stake in shares of Fidus Investment in the 2nd quarter valued at $188,000. Baird Financial Group Inc. increased its position in shares of Fidus Investment by 2.5% during the second quarter. Baird Financial Group Inc. now owns 416,390 shares of the asset manager's stock worth $7,941,000 after acquiring an additional 9,964 shares in the last quarter. Greenland Capital Management LP raised its holdings in shares of Fidus Investment by 15.5% in the 2nd quarter. Greenland Capital Management LP now owns 67,000 shares of the asset manager's stock worth $1,278,000 after acquiring an additional 9,000 shares during the last quarter. Secure Asset Management LLC raised its holdings in shares of Fidus Investment by 15.4% in the 2nd quarter. Secure Asset Management LLC now owns 23,728 shares of the asset manager's stock worth $452,000 after acquiring an additional 3,164 shares during the last quarter. Finally, Van ECK Associates Corp lifted its position in Fidus Investment by 30.3% in the 2nd quarter. Van ECK Associates Corp now owns 929,242 shares of the asset manager's stock valued at $17,721,000 after acquiring an additional 216,180 shares in the last quarter. Institutional investors own 28.14% of the company's stock.

About Fidus Investment

Fidus Investment Corporation NASDAQ: FDUS is a business development company that provides customized financing solutions to privately owned, lower middle-market companies in the United States. The company primarily invests in established businesses seeking capital for growth, acquisitions, recapitalizations, refinancings and other strategic initiatives.

Fidus invests through a combination of secured debt, subordinated debt and equity investments. Its portfolio may include first-lien and second-lien loans, mezzanine financing and equity interests, allowing the company to structure transactions based on the capital needs and risk profiles of its portfolio companies.

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