Envestnet Asset Management Inc. Has $6.61 Million Position in Fidus Investment Corporation (NASDAQ:FDUS)

Envestnet Asset Management Inc. lifted its stake in shares of Fidus Investment Corporation (NASDAQ:FDUS) by 7.8% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 324,277 shares of the asset manager’s stock after acquiring an additional 23,478 shares during the period. Envestnet Asset Management Inc.’s holdings in Fidus Investment were worth $6,612,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Raymond James Financial Inc. bought a new stake in shares of Fidus Investment in the 4th quarter worth $20,539,000. Cetera Investment Advisers boosted its position in Fidus Investment by 18.8% during the fourth quarter. Cetera Investment Advisers now owns 303,421 shares of the asset manager’s stock worth $6,378,000 after purchasing an additional 48,034 shares during the period. Columbus Macro LLC boosted its position in Fidus Investment by 7.8% during the first quarter. Columbus Macro LLC now owns 287,622 shares of the asset manager’s stock worth $5,865,000 after purchasing an additional 20,727 shares during the period. Baird Financial Group Inc. purchased a new stake in shares of Fidus Investment in the fourth quarter worth about $4,072,000. Finally, GraniteShares Advisors LLC lifted its holdings in shares of Fidus Investment by 6.5% in the first quarter. GraniteShares Advisors LLC now owns 124,249 shares of the asset manager’s stock worth $2,533,000 after buying an additional 7,530 shares in the last quarter. Institutional investors and hedge funds own 28.14% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on FDUS shares. Keefe, Bruyette & Woods lowered their price target on shares of Fidus Investment from $21.00 to $20.00 and set a “market perform” rating on the stock in a report on Tuesday, April 8th. B. Riley initiated coverage on shares of Fidus Investment in a research note on Tuesday, May 13th. They issued a “buy” rating and a $22.00 target price on the stock. Finally, LADENBURG THALM/SH SH raised shares of Fidus Investment from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 9th.

Fidus Investment Price Performance

Shares of FDUS opened at $21.55 on Wednesday. The company has a market capitalization of $748.43 million, a P/E ratio of 9.21 and a beta of 0.92. Fidus Investment Corporation has a 1-year low of $16.70 and a 1-year high of $23.55. The firm’s 50 day simple moving average is $20.45 and its 200 day simple moving average is $20.72.

Fidus Investment (NASDAQ:FDUS) last issued its earnings results on Thursday, May 8th. The asset manager reported $0.54 EPS for the quarter, topping the consensus estimate of $0.53 by $0.01. The company had revenue of $36.50 million for the quarter, compared to the consensus estimate of $35.61 million. Fidus Investment had a net margin of 52.59% and a return on equity of 11.48%. On average, equities analysts anticipate that Fidus Investment Corporation will post 2.28 earnings per share for the current year.

Fidus Investment Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 25th. Stockholders of record on Friday, June 13th were given a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 10.02%. The ex-dividend date of this dividend was Friday, June 13th. Fidus Investment’s dividend payout ratio is presently 73.50%.

Fidus Investment Profile

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.