Zacks Investment Research upgraded shares of Fidus Investment (NASDAQ:FDUS) from a hold rating to a buy rating in a report issued on Thursday. The firm currently has $17.00 price target on the asset manager’s stock.

According to Zacks, “Fidus Investment Corporation is a business development company which provides customized mezzanine debt and equity financing solutions to lower middle-market companies. The Company partners with business owners, management teams and financial sponsors by providing customized financing for change of ownership transactions, recapitalizations, strategic acquisitions, business expansion and other growth initiatives. Fidus Investment Corporation is based in Evanston, Illinois. “

Separately, BidaskClub downgraded shares of Fidus Investment from a sell rating to a strong sell rating in a report on Saturday, December 9th.

Shares of Fidus Investment (FDUS) traded down $0.22 during trading hours on Thursday, reaching $15.24. 158,100 shares of the company traded hands, compared to its average volume of 131,567. The company has a market cap of $368.37, a P/E ratio of 7.70 and a beta of 1.11. Fidus Investment has a one year low of $15.10 and a one year high of $18.21.

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 27th. Investors of record on Wednesday, December 20th were issued a dividend of $0.39 per share. The ex-dividend date of this dividend was Tuesday, December 19th. This represents a $1.56 annualized dividend and a yield of 10.24%. Fidus Investment’s payout ratio is 78.79%.

A number of institutional investors have recently added to or reduced their stakes in FDUS. D.A. Davidson & CO. boosted its position in Fidus Investment by 8.2% in the 2nd quarter. D.A. Davidson & CO. now owns 6,615 shares of the asset manager’s stock valued at $111,000 after buying an additional 504 shares during the period. CIBC World Markets Inc. purchased a new stake in Fidus Investment in the 2nd quarter valued at about $177,000. Stifel Financial Corp purchased a new stake in Fidus Investment in the 2nd quarter valued at about $196,000. Kingfisher Capital LLC purchased a new stake in Fidus Investment in the 2nd quarter valued at about $219,000. Finally, Alpha Cubed Investments LLC purchased a new stake in Fidus Investment in the 3rd quarter valued at about $235,000. 32.06% of the stock is owned by institutional investors.

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Fidus Investment Company Profile

Fidus Investment Corporation is a closed-end, non-diversified investment company. The Company provides customized debt and equity financing solutions to lower middle-market companies. The Company’s investment objective is to provide attractive risk-adjusted returns by generating both current income from its debt investments and capital appreciation from its equity-related investments.

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