Hennion & Walsh Asset Management Inc. Expands Ownership in Fidus Investment Co.

Hennion & Walsh Asset Management Inc. has taken a significant step by acquiring a new position in Fidus Investment Co. (NASDAQ:FDUS) during the third quarter. This acquisition was revealed in the firm’s latest 13F filing with the SEC, where it disclosed the purchase of 34,863 shares of the investment manager's stock. The total value of this investment is approximately $683,000. Following this acquisition, Hennion & Walsh Asset Management now holds about 0.11% of Fidus Investment.

In addition to Hennion & Walsh, various institutional investors have also shown interest in Fidus Investment by buying and selling shares. For instance, Janney Montgomery Scott LLC has increased its stake by 1.3% during the first quarter. After acquiring an additional 500 shares over the last quarter, their total ownership now stands at 39,429 shares, valued at about $778,000. Wetzel Investment Advisors Inc. added a new stake in Fidus Investment valued at around $32,000 in the second quarter. Meanwhile, during the third quarter, Cornerstone Wealth Management LLC boosted its holdings by 10.4%, bringing its total to 19,437 shares valued at approximately $381,000, following the purchase of 1,838 shares.

Additionally, Wealth Enhancement Advisory Services LLC increased its position in the second quarter by 20.0%, amassing 12,866 shares valued at $251,000. Lastly, Commonwealth Equity Services LLC also contributed to the trend by raising its position by 8.6% during the second quarter, ending up with 28,801 shares worth $561,000. Collectively, institutional investors own roughly 28.14% of Fidus Investment's stock.

Recent Analyst Ratings

In a separate development, Fidus Investment received an upgrade to a "hold" rating from Keefe, Bruyette & Woods in a research note dated August 5.

Fidus Investment's Market Performance

On Monday, Fidus Investment's stock opened at $19.53, reflecting a slight decline of 1.3%. The stock has seen a one-year low of $17.63 and a high of $20.60. Its fifty-day and 200-day simple moving averages both rest at around $19.74. The company holds a market capitalization of $616.25 million, a P/E ratio of 6.71, and a beta of 1.39.

Fidus Investment Co. last reported its quarterly earnings on August 1, delivering earnings of $0.57 per share, matching analysts' expectations. The company achieved a return on equity of 12.29% and a net margin of 67.43%. For the quarter, Fidus reported revenue of $35.66 million, surpassing analysts' anticipated $34.88 million. The company had earned $0.62 per share during the same quarter last year. Analysts predict Fidus Investment Co. will post an EPS of 2.31 for the current year.

About Fidus Investment

Fidus Investment Corporation operates as a business development company specializing in various financial activities. Its focuses include leveraged buyouts, refinancings, change of ownership transactions, recapitalizations, strategic acquisitions, mezzanine financing, growth capital, business expansions, and investments in lower middle market, among other debt and equity transactions.

Investment, Finance, Stocks