Fidus Investment (NASDAQ:FDUS) Given New $21.00 Price Target at Keefe, Bruyette & Woods

Fidus Investment (NASDAQ:FDUS) had its price objective cut by Keefe, Bruyette & Woods from $21.50 to $21.00 in a report issued on Monday,Benzinga reports. They currently have an outperform rating on the asset manager’s stock.

Several other brokerages have also recently commented on FDUS. B. Riley cut Fidus Investment from a “buy” rating to a “neutral” rating and boosted their price target for the company from $22.00 to $22.50 in a research note on Wednesday, August 13th. Weiss Ratings reissued a “buy (b-)” rating on shares of Fidus Investment in a research report on Tuesday, October 14th. Finally, LADENBURG THALM/SH SH upgraded shares of Fidus Investment to a “strong-buy” rating in a report on Wednesday, August 13th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $21.75.

Fidus Investment Trading Up 0.6%

Shares of NASDAQ:FDUS opened at $19.88 on Monday. Fidus Investment has a 1 year low of $16.70 and a 1 year high of $23.55. The business has a fifty day simple moving average of $20.57 and a 200 day simple moving average of $20.52. The firm has a market cap of $703.35 million, a price-to-earnings ratio of 8.61 and a beta of 0.91.

Fidus Investment (NASDAQ:FDUS) last issued its earnings results on Thursday, November 6th. The asset manager reported $0.50 EPS for the quarter, meeting analysts’ consensus estimates of $0.50. Fidus Investment had a return on equity of 11.52% and a net margin of 51.88%.The firm had revenue of $37.25 million for the quarter, compared to the consensus estimate of $37.29 million. On average, sell-side analysts forecast that Fidus Investment will post 2.28 EPS for the current year.

Fidus Investment Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 29th. Shareholders of record on Friday, December 19th will be given a dividend of $0.43 per share. The ex-dividend date of this dividend is Friday, December 19th. This represents a $1.72 dividend on an annualized basis and a yield of 8.7%. Fidus Investment’s payout ratio is currently 72.88%.

Hedge Funds Weigh In On Fidus Investment

A number of institutional investors have recently made changes to their positions in the business. Greenland Capital Management LP lifted its position in shares of Fidus Investment by 3.4% during the 3rd quarter. Greenland Capital Management LP now owns 55,000 shares of the asset manager’s stock worth $1,114,000 after purchasing an additional 1,810 shares during the last quarter. JPMorgan Chase & Co. increased its position in Fidus Investment by 99.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 8,793 shares of the asset manager’s stock worth $178,000 after buying an additional 4,395 shares during the period. HighTower Advisors LLC lifted its holdings in shares of Fidus Investment by 2.4% during the third quarter. HighTower Advisors LLC now owns 93,028 shares of the asset manager’s stock worth $1,885,000 after buying an additional 2,163 shares during the last quarter. Caprock Group LLC bought a new stake in shares of Fidus Investment in the third quarter valued at approximately $703,000. Finally, Rockland Trust Co. bought a new stake in shares of Fidus Investment in the third quarter valued at approximately $1,133,000. 28.14% of the stock is currently owned by institutional investors.

About Fidus Investment

Fidus Investment Corporation is a business development company. It 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.