Zacks Investment Research Lowers Fidus Investment (FDUS) to Sell

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Zacks Investment Research lowered shares of Fidus Investment (NASDAQ:FDUS) from a hold rating to a sell rating in a research note issued to investors on Wednesday, October 3rd.

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. “

FDUS has been the subject of a number of other research reports. BidaskClub cut shares of Fidus Investment from a buy rating to a hold rating in a research report on Tuesday, September 11th. ValuEngine raised shares of Fidus Investment from a sell rating to a hold rating in a report on Tuesday, September 4th. Finally, TheStreet raised shares of Fidus Investment from a c+ rating to a b- rating in a report on Wednesday, July 18th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus price target of $16.50.

FDUS stock traded up $0.08 during mid-day trading on Wednesday, reaching $13.35. The company had a trading volume of 67,800 shares, compared to its average volume of 98,542. The company has a market capitalization of $324.63 million, a P/E ratio of 9.33 and a beta of 1.03. Fidus Investment has a 12 month low of $12.63 and a 12 month high of $16.94.

Fidus Investment (NASDAQ:FDUS) last released its quarterly earnings data on Thursday, August 2nd. The asset manager reported $0.36 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.36. Fidus Investment had a net margin of 65.95% and a return on equity of 8.73%. The firm had revenue of $18.11 million for the quarter, compared to the consensus estimate of $17.43 million. As a group, analysts expect that Fidus Investment will post 1.45 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Wells Fargo & Company MN increased its stake in shares of Fidus Investment by 71.6% in the first quarter. Wells Fargo & Company MN now owns 9,702 shares of the asset manager’s stock worth $125,000 after acquiring an additional 4,049 shares during the period. BB&T Securities LLC increased its stake in shares of Fidus Investment by 26.8% in the first quarter. BB&T Securities LLC now owns 275,201 shares of the asset manager’s stock worth $3,544,000 after acquiring an additional 58,210 shares during the period. Guggenheim Capital LLC increased its stake in shares of Fidus Investment by 14.3% in the first quarter. Guggenheim Capital LLC now owns 100,303 shares of the asset manager’s stock worth $1,292,000 after acquiring an additional 12,561 shares during the period. Millennium Management LLC increased its stake in shares of Fidus Investment by 107.0% in the first quarter. Millennium Management LLC now owns 100,875 shares of the asset manager’s stock worth $1,299,000 after acquiring an additional 52,151 shares during the period. Finally, Kingfisher Capital LLC acquired a new stake in shares of Fidus Investment in the first quarter worth $182,000. 28.51% of the stock is owned by institutional investors and hedge funds.

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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