B. Riley Wealth Advisors Inc. Trims Position in TriplePoint Venture Growth BDC Corp. (NYSE:TPVG)

B. Riley Wealth Advisors Inc. lessened its position in shares of TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) by 9.6% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 44,153 shares of the investment management company’s stock after selling 4,699 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in TriplePoint Venture Growth BDC were worth $355,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of TPVG. Quadrature Capital Ltd purchased a new stake in TriplePoint Venture Growth BDC in the fourth quarter worth about $655,000. Norden Group LLC increased its position in TriplePoint Venture Growth BDC by 739.7% in the first quarter. Norden Group LLC now owns 125,020 shares of the investment management company’s stock worth $1,185,000 after buying an additional 110,132 shares in the last quarter. Van ECK Associates Corp increased its position in TriplePoint Venture Growth BDC by 16.4% in the second quarter. Van ECK Associates Corp now owns 846,716 shares of the investment management company’s stock worth $6,799,000 after buying an additional 119,184 shares in the last quarter. Marshall Wace LLP purchased a new stake in TriplePoint Venture Growth BDC in the second quarter worth about $1,486,000. Finally, Magnetar Financial LLC purchased a new stake in TriplePoint Venture Growth BDC in the second quarter worth about $297,000. Hedge funds and other institutional investors own 12.77% of the company’s stock.

TriplePoint Venture Growth BDC Trading Down 1.0 %

Shares of TriplePoint Venture Growth BDC stock opened at $6.76 on Tuesday. The stock has a 50 day moving average of $7.44 and a 200 day moving average of $8.45. TriplePoint Venture Growth BDC Corp. has a 12 month low of $6.72 and a 12 month high of $11.58. The firm has a market cap of $270.06 million, a PE ratio of -6.09 and a beta of 1.79.

TriplePoint Venture Growth BDC (NYSE:TPVG) last posted its quarterly earnings data on Wednesday, August 7th. The investment management company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.10). The company had revenue of $27.11 million during the quarter, compared to the consensus estimate of $28.77 million. TriplePoint Venture Growth BDC had a negative net margin of 8.03% and a positive return on equity of 18.24%. During the same period in the previous year, the business earned $0.53 earnings per share. As a group, equities research analysts forecast that TriplePoint Venture Growth BDC Corp. will post 1.4 earnings per share for the current fiscal year.

TriplePoint Venture Growth BDC Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 17.75%. The ex-dividend date was Monday, September 16th. TriplePoint Venture Growth BDC’s payout ratio is -108.11%.

Insider Activity

In related news, President Sajal Srivastava acquired 11,298 shares of the stock in a transaction dated Monday, August 12th. The stock was acquired at an average cost of $7.02 per share, with a total value of $79,311.96. Following the purchase, the president now directly owns 250,858 shares of the company’s stock, valued at approximately $1,761,023.16. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. LADENBURG THALM/SH SH cut TriplePoint Venture Growth BDC from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $8.50 to $8.00 in a research report on Friday, August 9th. Keefe, Bruyette & Woods dropped their price objective on TriplePoint Venture Growth BDC from $9.00 to $8.00 and set an “underperform” rating for the company in a research note on Friday, August 9th. Finally, Piper Sandler dropped their price objective on TriplePoint Venture Growth BDC from $9.50 to $8.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Three analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $8.25.

TriplePoint Venture Growth BDC Company Profile

TriplePoint Venture Growth BDC Corp. is a business development company specializing investments in venture capital-backed companies at the growth stage investments. It also provides debt financing to venture growth space companies which includes growth capital loans, secured and customized loans, equipment financings, revolving loans and direct equity investments.