Truist Financial Corp Sells 3,523 Shares of Fidus Investment Co. (NASDAQ:FDUS)

Truist Financial Corp trimmed its position in Fidus Investment Co. (NASDAQ:FDUS) by 7.4% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 44,160 shares of the asset manager’s stock after selling 3,523 shares during the period. Truist Financial Corp owned about 0.14% of Fidus Investment worth $860,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of FDUS. B. Riley Wealth Advisors Inc. boosted its position in Fidus Investment by 29.0% in the 4th quarter. B. Riley Wealth Advisors Inc. now owns 15,925 shares of the asset manager’s stock valued at $314,000 after buying an additional 3,581 shares during the last quarter. Sound Income Strategies LLC boosted its position in shares of Fidus Investment by 8.7% in 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 last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Fidus Investment by 3.6% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 65,706 shares of the asset manager’s stock worth $1,297,000 after purchasing an additional 2,300 shares during the last quarter. Commonwealth Equity Services LLC boosted its position in shares of Fidus Investment by 50.5% in the 1st quarter. Commonwealth Equity Services LLC now owns 26,529 shares of the asset manager’s stock worth $524,000 after purchasing an additional 8,903 shares during the last quarter. Finally, Van ECK Associates Corp boosted its position in shares of Fidus Investment by 15.8% in the 1st quarter. Van ECK Associates Corp now owns 600,862 shares of the asset manager’s stock worth $11,861,000 after purchasing an additional 82,049 shares during the last quarter. 28.14% of the stock is currently owned by institutional investors.

Fidus Investment Price Performance

FDUS opened at $19.48 on Tuesday. The business’s 50-day moving average price is $19.69 and its two-hundred day moving average price is $19.74. Fidus Investment Co. has a 1 year low of $17.63 and a 1 year high of $20.60. The company has a market capitalization of $614.67 million, a price-to-earnings ratio of 6.69 and a beta of 1.39.

Fidus Investment (NASDAQ:FDUS) last released its quarterly earnings results on Thursday, August 1st. The asset manager reported $0.57 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.57. The firm had revenue of $35.66 million for the quarter, compared to the consensus estimate of $34.88 million. Fidus Investment had a return on equity of 12.29% and a net margin of 67.43%. During the same quarter last year, the business posted $0.62 EPS. Sell-side analysts anticipate that Fidus Investment Co. will post 2.31 earnings per share for the current fiscal year.

Fidus Investment Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Thursday, September 19th were issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 11.70%. The ex-dividend date was Thursday, September 19th. This is a boost from Fidus Investment’s previous quarterly dividend of $0.43. Fidus Investment’s payout ratio is currently 59.11%.

Analyst Upgrades and Downgrades

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

Fidus Investment Company 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.