Van ECK Associates Corp Grows Stock Position in Fidus Investment Co. (NASDAQ:FDUS)

Van ECK Associates Corp boosted its stake in shares of Fidus Investment Co. (NASDAQ:FDUS) by 11.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 809,411 shares of the asset manager’s stock after purchasing an additional 83,538 shares during the quarter. Van ECK Associates Corp owned approximately 2.57% of Fidus Investment worth $15,808,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of FDUS. Wetzel Investment Advisors Inc. acquired a new position in shares of Fidus Investment during the second quarter worth $32,000. EntryPoint Capital LLC acquired a new position in shares of Fidus Investment during the 1st quarter worth about $45,000. EverSource Wealth Advisors LLC purchased a new position in shares of Fidus Investment in the 1st quarter valued at about $73,000. Farther Finance Advisors LLC raised its position in shares of Fidus Investment by 23.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 7,467 shares of the asset manager’s stock worth $146,000 after acquiring an additional 1,426 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in Fidus Investment by 20.0% during the second 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 last quarter. Institutional investors and hedge funds own 28.14% of the company’s stock.

Fidus Investment Price Performance

NASDAQ FDUS opened at $19.10 on Wednesday. The company has a fifty day moving average of $19.70 and a two-hundred day moving average of $19.73. The company has a market capitalization of $633.36 million, a PE ratio of 6.85 and a beta of 1.40. Fidus Investment Co. has a 1 year low of $18.41 and a 1 year high of $20.60.

Fidus Investment (NASDAQ:FDUS) last announced its earnings results on Thursday, October 31st. The asset manager reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.04. Fidus Investment had a return on equity of 12.11% and a net margin of 60.09%. The firm had revenue of $38.38 million during the quarter, compared to analysts’ expectations of $36.43 million. During the same period in the prior year, the firm earned $0.68 EPS. On average, research analysts expect that Fidus Investment Co. will post 2.31 earnings per share for the current year.

Fidus Investment Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Tuesday, December 17th will be issued a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a dividend yield of 12.77%. This is a boost from Fidus Investment’s previous quarterly dividend of $0.57. The ex-dividend date is Tuesday, December 17th. Fidus Investment’s payout ratio is presently 61.43%.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods upgraded shares of Fidus Investment to a “hold” rating in a research note 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.