Baird Financial Group Inc. Has $6.32 Million Stock Position in Fidus Investment Corporation $FDUS

Baird Financial Group Inc. grew its holdings in Fidus Investment Corporation (NASDAQ:FDUS) by 10.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 313,002 shares of the asset manager’s stock after acquiring an additional 29,909 shares during the quarter. Baird Financial Group Inc. owned 0.88% of Fidus Investment worth $6,323,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Kingstone Capital Partners Texas LLC bought a new stake in Fidus Investment in the 2nd quarter valued at $549,138,000. Golden State Equity Partners bought a new stake in Fidus Investment in the 2nd quarter valued at approximately $318,000. Cetera Investment Advisers boosted its position in Fidus Investment by 10.4% during the 2nd quarter. Cetera Investment Advisers now owns 370,335 shares of the asset manager’s stock worth $7,481,000 after acquiring an additional 34,837 shares during the last quarter. Columbus Macro LLC boosted its holdings in Fidus Investment by 12.1% during the second quarter. Columbus Macro LLC now owns 322,543 shares of the asset manager’s stock worth $6,515,000 after purchasing an additional 34,921 shares during the last quarter. Finally, HighTower Advisors LLC lifted its position in Fidus Investment by 3.0% during the 1st quarter. HighTower Advisors LLC now owns 90,668 shares of the asset manager’s stock worth $1,849,000 after buying an additional 2,683 shares in the last quarter. 28.14% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

FDUS has been the subject of several recent analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of Fidus Investment in a report on Monday. B. Riley cut Fidus Investment from a “buy” rating to a “neutral” rating and raised their price objective for the company from $22.00 to $22.50 in a research report on Wednesday, August 13th. LADENBURG THALM/SH SH raised Fidus Investment to a “strong-buy” rating in a report on Wednesday, August 13th. Finally, Keefe, Bruyette & Woods cut their price target on Fidus Investment from $21.50 to $21.00 and set an “outperform” rating for the company in a report on Monday, November 10th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $21.75.

Fidus Investment Stock Performance

Shares of Fidus Investment stock opened at $20.05 on Wednesday. The firm has a 50-day moving average of $20.01 and a 200-day moving average of $20.53. Fidus Investment Corporation has a 52-week low of $16.70 and a 52-week high of $23.55. The stock has a market cap of $730.42 million, a PE ratio of 8.50 and a beta of 0.71.

Fidus Investment (NASDAQ:FDUS) last announced its earnings results on Thursday, November 6th. The asset manager reported $0.50 EPS for the quarter, hitting the consensus estimate of $0.50. Fidus Investment had a net margin of 54.03% and a return on equity of 10.91%. The company had revenue of $37.25 million for the quarter, compared to analysts’ expectations of $37.29 million. Equities research analysts predict that Fidus Investment Corporation will post 2.28 earnings per share for the current fiscal year.

Fidus Investment Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 29th. Shareholders of record on Friday, December 19th will be issued a $0.43 dividend. The ex-dividend date of this dividend is Friday, December 19th. This represents a $1.72 annualized dividend and a yield of 8.6%. Fidus Investment’s payout ratio is currently 72.88%.

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.