Zacks Investment Research lowered shares of Fidus Investment Corporation (NASDAQ:FDUS) from a hold rating to a sell rating in a research report released on Tuesday.
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. “
A number of other brokerages also recently commented on FDUS. BidaskClub downgraded Fidus Investment Corporation from a buy rating to a hold rating in a research note on Friday, July 14th. Keefe, Bruyette & Woods set a $18.00 target price on Fidus Investment Corporation and gave the company a hold rating in a research note on Wednesday, May 31st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average price target of $17.50.
Shares of Fidus Investment Corporation (FDUS) opened at 15.84 on Tuesday. The firm’s 50-day moving average price is $16.43 and its 200-day moving average price is $16.95. Fidus Investment Corporation has a 52-week low of $14.33 and a 52-week high of $18.21.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Friday, September 8th will be paid a $0.39 dividend. The ex-dividend date is Thursday, September 7th. This represents a $1.56 dividend on an annualized basis and a yield of 9.85%. Fidus Investment Corporation’s payout ratio is currently 80.83%.
A number of hedge funds have recently modified their holdings of the business. Public Employees Retirement System of Ohio acquired a new position in shares of Fidus Investment Corporation during the second quarter worth approximately $1,800,000. Kingfisher Capital LLC acquired a new position in shares of Fidus Investment Corporation during the second quarter worth approximately $219,000. Raymond James Financial Services Advisors Inc. boosted its position in shares of Fidus Investment Corporation by 11.7% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 475,794 shares of the asset manager’s stock worth $8,003,000 after buying an additional 49,744 shares during the period. Moors & Cabot Inc. acquired a new position in shares of Fidus Investment Corporation during the second quarter worth approximately $349,000. Finally, Optimum Investment Advisors boosted its position in shares of Fidus Investment Corporation by 31.2% during the second quarter. Optimum Investment Advisors now owns 40,482 shares of the asset manager’s stock worth $681,000 after buying an additional 9,638 shares during the period. Institutional investors own 30.68% of the company’s stock.
About Fidus Investment Corporation
Fidus Investment Corporation is a closed-end, non-diversified investment company. The Company provides customized debt and equity financing solutions to lower middle-market companies. The Company’s investment objective is to provide attractive risk-adjusted returns by generating both current income from its debt investments and capital appreciation from its equity-related investments.
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