Envestnet Asset Management Inc. Buys 33,474 Shares of Fidus Investment Co. (NASDAQ:FDUS)

Envestnet Asset Management Inc. raised its stake in shares of Fidus Investment Co. (NASDAQ:FDUS) by 17.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 225,904 shares of the asset manager’s stock after acquiring an additional 33,474 shares during the period. Envestnet Asset Management Inc.’s holdings in Fidus Investment were worth $4,401,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of FDUS. Wetzel Investment Advisors Inc. bought a new position in Fidus Investment during the 2nd quarter valued at $32,000. EntryPoint Capital LLC bought a new position in Fidus Investment during the 1st quarter valued at $45,000. EverSource Wealth Advisors LLC bought a new stake in shares of Fidus Investment during the 1st quarter worth $73,000. Sound Income Strategies LLC raised its stake in shares of Fidus Investment by 8.7% during the 1st quarter. Sound Income Strategies LLC now owns 8,974 shares of the asset manager’s stock worth $177,000 after purchasing an additional 721 shares during the period. Finally, Wealth Enhancement Advisory Services LLC raised its stake in shares of Fidus Investment by 20.0% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 12,866 shares of the asset manager’s stock worth $251,000 after purchasing an additional 2,140 shares during the period. 28.14% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods upgraded Fidus Investment to a “hold” rating in a research note on Monday, August 5th.

Fidus Investment Price Performance

NASDAQ FDUS opened at $19.42 on Wednesday. The stock has a market capitalization of $612.78 million, a price-to-earnings ratio of 6.67 and a beta of 1.40. Fidus Investment Co. has a one year low of $17.63 and a one year high of $20.60. The business’s fifty day moving average is $19.69 and its 200-day moving average is $19.73.

Fidus Investment (NASDAQ:FDUS) last announced its quarterly earnings data on Thursday, August 1st. The asset manager reported $0.57 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.57. Fidus Investment had a return on equity of 12.29% and a net margin of 67.43%. The business had revenue of $35.66 million for the quarter, compared to analysts’ expectations of $34.88 million. During the same period in the previous year, the business posted $0.62 EPS. Research analysts expect that Fidus Investment Co. will post 2.31 EPS for the current fiscal year.

Fidus Investment Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Thursday, September 19th were paid a $0.57 dividend. This is a boost from Fidus Investment’s previous quarterly dividend of $0.43. This represents a $2.28 dividend on an annualized basis and a yield of 11.74%. The ex-dividend date of this dividend was Thursday, September 19th. Fidus Investment’s payout ratio is currently 59.11%.

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.