Two Sigma Investments LP cut its holdings in Fidus Investment Corp (NASDAQ:FDUS) by 64.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 26,750 shares of the asset manager’s stock after selling 49,096 shares during the period. Two Sigma Investments LP owned about 0.11% of Fidus Investment worth $177,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. Van ECK Associates Corp boosted its holdings in Fidus Investment by 4.1% during the first quarter. Van ECK Associates Corp now owns 275,836 shares of the asset manager’s stock worth $1,826,000 after purchasing an additional 10,974 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. acquired a new position in shares of Fidus Investment during the 1st quarter worth about $1,314,000. Advisors Asset Management Inc. boosted its stake in shares of Fidus Investment by 13.1% during the 4th quarter. Advisors Asset Management Inc. now owns 223,652 shares of the asset manager’s stock worth $3,319,000 after buying an additional 25,952 shares during the last quarter. Blair William & Co. IL bought a new position in shares of Fidus Investment in the 1st quarter valued at about $82,000. Finally, Mid Atlantic Financial Management Inc. ADV increased its position in shares of Fidus Investment by 50.3% in the first quarter. Mid Atlantic Financial Management Inc. ADV now owns 26,965 shares of the asset manager’s stock valued at $179,000 after acquiring an additional 9,025 shares during the last quarter. Institutional investors own 30.14% of the company’s stock.
FDUS has been the subject of a number of analyst reports. ValuEngine downgraded Fidus Investment from a “hold” rating to a “sell” rating in a research note on Wednesday, March 18th. B. Riley raised their target price on shares of Fidus Investment from $8.50 to $9.00 and gave the company a “neutral” rating in a research note on Monday, May 4th. National Securities raised shares of Fidus Investment from a “neutral” rating to a “buy” rating in a research report on Tuesday, March 17th. Oppenheimer decreased their price objective on shares of Fidus Investment from $19.00 to $14.00 and set an “outperform” rating for the company in a research report on Monday, April 13th. Finally, Zacks Investment Research raised shares of Fidus Investment from a “sell” rating to a “hold” rating in a report on Monday, June 15th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $14.40.
Fidus Investment (NASDAQ:FDUS) last issued its quarterly earnings data on Thursday, April 30th. The asset manager reported $0.35 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.01. The company had revenue of $19.98 million for the quarter, compared to analyst estimates of $19.61 million. Fidus Investment had a net margin of 13.19% and a return on equity of 8.19%. As a group, sell-side analysts expect that Fidus Investment Corp will post 1.25 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 12th were issued a $0.30 dividend. The ex-dividend date of this dividend was Thursday, June 11th. This represents a $1.20 annualized dividend and a yield of 13.30%. Fidus Investment’s dividend payout ratio is currently 83.33%.
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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