Envestnet Asset Management Inc. Acquires 80,500 Shares of Fidus Investment Corporation $FDUS

Envestnet Asset Management Inc. increased its holdings in shares of Fidus Investment Corporation (NASDAQ:FDUS) by 22.4% in the 3rd quarter, HoldingsChannel reports. The firm owned 439,915 shares of the asset manager’s stock after acquiring an additional 80,500 shares during the period. Envestnet Asset Management Inc.’s holdings in Fidus Investment were worth $8,913,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Invesco Ltd. increased its stake in shares of Fidus Investment by 2.2% in the 2nd quarter. Invesco Ltd. now owns 446,703 shares of the asset manager’s stock valued at $9,023,000 after acquiring an additional 9,637 shares in the last quarter. Columbus Macro LLC boosted its stake in Fidus Investment by 24.5% during the third quarter. Columbus Macro LLC now owns 401,460 shares of the asset manager’s stock worth $8,134,000 after acquiring an additional 78,917 shares in the last quarter. Cetera Investment Advisers grew its holdings in Fidus Investment by 10.4% in the second quarter. Cetera Investment Advisers now owns 370,335 shares of the asset manager’s stock worth $7,481,000 after purchasing an additional 34,837 shares during the period. Baird Financial Group Inc. increased its stake in Fidus Investment by 10.6% in the second quarter. Baird Financial Group Inc. now owns 313,002 shares of the asset manager’s stock valued at $6,323,000 after purchasing an additional 29,909 shares in the last quarter. Finally, Muzinich & Co. Inc. raised its holdings in shares of Fidus Investment by 30.1% during the third quarter. Muzinich & Co. Inc. now owns 247,443 shares of the asset manager’s stock valued at $5,013,000 after purchasing an additional 57,215 shares during the period. 28.14% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Keefe, Bruyette & Woods reduced their target price on Fidus Investment from $21.50 to $21.00 and set an “outperform” rating for the company in a research note on Monday, November 10th. Weiss Ratings reissued a “hold (c)” rating on shares of Fidus Investment in a research note on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Fidus Investment currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.75.

Fidus Investment Stock Down 1.1%

Fidus Investment stock opened at $18.57 on Friday. Fidus Investment Corporation has a 52 week low of $16.70 and a 52 week high of $23.48. The company’s 50 day moving average price is $19.35 and its two-hundred day moving average price is $20.09. The stock has a market cap of $676.51 million, a P/E ratio of 7.87 and a beta of 0.73.

Fidus Investment Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Friday, March 20th will be given a dividend of $0.43 per share. The ex-dividend date of this dividend is Friday, March 20th. This represents a $1.72 annualized dividend and a dividend yield of 9.3%. Fidus Investment’s dividend payout ratio (DPR) is currently 72.88%.

Fidus Investment Profile

Fidus Investment Corporation (NASDAQ: FDUS) is a closed-end, externally managed business development company (BDC) that provides specialized financing solutions to U.S. middle-market companies. Operated by Fidus Investment Advisors, LLC, a registered investment adviser, the company is regulated under the Investment Company Act of 1940 and trades on the Nasdaq Capital Market.

The firm focuses on structuring senior secured and unitranche loans, mezzanine debt and equity investments for established businesses across a range of industries.