Zacks Investment Research cut shares of Fidus Investment (NASDAQ:FDUS) from a hold rating to a sell rating in a research report sent to investors on Wednesday morning.
According to Zacks, “Fidus Investment Corporation is a business development company which provides customized mezzanine debt and equity financing solutions to lower middle-market companies. The Company partners with business owners, management teams and financial sponsors by providing customized financing for change of ownership transactions, recapitalizations, strategic acquisitions, business expansion and other growth initiatives. Fidus Investment Corporation is based in Evanston, Illinois. “
Other research analysts have also recently issued research reports about the company. BidaskClub cut Fidus Investment from a buy rating to a hold rating in a research note on Monday, February 4th. ValuEngine raised Fidus Investment from a sell rating to a hold rating in a research note on Thursday, January 17th. Finally, TheStreet cut Fidus Investment from a b- rating to a c+ rating in a research note on Thursday, December 20th. One research analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. The company has an average rating of Hold and a consensus price target of $14.50.
Shares of FDUS traded up $0.13 during mid-day trading on Wednesday, reaching $15.14. 270,283 shares of the company’s stock traded hands, compared to its average volume of 97,569. The stock has a market cap of $378.69 million, a price-to-earnings ratio of 11.55 and a beta of 1.19. Fidus Investment has a 12 month low of $11.48 and a 12 month high of $15.76.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 22nd. Investors of record on Friday, March 8th will be paid a $0.39 dividend. The ex-dividend date of this dividend is Thursday, March 7th. This represents a $1.56 annualized dividend and a yield of 10.30%. Fidus Investment’s dividend payout ratio (DPR) is currently 109.86%.
In other news, insider Shelby E. Sherard acquired 3,675 shares of the company’s stock in a transaction that occurred on Thursday, December 6th. The shares were bought at an average price of $13.60 per share, with a total value of $49,980.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.30% of the stock is owned by corporate insiders.
Large investors have recently made changes to their positions in the stock. Optimum Investment Advisors grew its stake in Fidus Investment by 7.3% in the fourth quarter. Optimum Investment Advisors now owns 35,379 shares of the asset manager’s stock worth $414,000 after purchasing an additional 2,420 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its holdings in Fidus Investment by 89.4% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 13,829 shares of the asset manager’s stock worth $161,000 after buying an additional 6,529 shares during the period. BlackRock Inc. lifted its holdings in Fidus Investment by 7.2% during the third quarter. BlackRock Inc. now owns 117,434 shares of the asset manager’s stock worth $1,717,000 after buying an additional 7,842 shares during the period. WESPAC Advisors LLC lifted its holdings in Fidus Investment by 65.2% during the third quarter. WESPAC Advisors LLC now owns 81,585 shares of the asset manager’s stock worth $1,193,000 after buying an additional 32,209 shares during the period. Finally, Wambolt & Associates LLC purchased a new stake in Fidus Investment during the fourth quarter worth $200,000. 27.50% of the stock is currently owned by institutional investors.
About Fidus Investment
Fidus Investment Corporation is a business development company 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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