TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) Shares Acquired by Diversify Advisory Services LLC

Diversify Advisory Services LLC lifted its position in shares of TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) by 31.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,191 shares of the investment management company’s stock after buying an additional 3,378 shares during the period. Diversify Advisory Services LLC’s holdings in TriplePoint Venture Growth BDC were worth $94,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quarry LP purchased a new stake in TriplePoint Venture Growth BDC in the second quarter valued at approximately $35,000. EverSource Wealth Advisors LLC purchased a new position in TriplePoint Venture Growth BDC in the second quarter valued at approximately $62,000. U.S. Capital Wealth Advisors LLC raised its stake in TriplePoint Venture Growth BDC by 19.4% during the 2nd quarter. U.S. Capital Wealth Advisors LLC now owns 19,064 shares of the investment management company’s stock worth $153,000 after acquiring an additional 3,100 shares in the last quarter. Norden Group LLC increased its position in shares of TriplePoint Venture Growth BDC by 20.0% during the first quarter. Norden Group LLC now owns 17,860 shares of the investment management company’s stock worth $169,000 after purchasing an additional 2,972 shares in the last quarter. Finally, Paloma Partners Management Co purchased a new stake in TriplePoint Venture Growth BDC in the first quarter valued at approximately $184,000. Hedge funds and other institutional investors own 12.77% of the company’s stock.

TriplePoint Venture Growth BDC Stock Down 1.1 %

Shares of NYSE:TPVG opened at $6.59 on Friday. The business has a fifty day simple moving average of $7.04 and a 200-day simple moving average of $8.13. TriplePoint Venture Growth BDC Corp. has a 52 week low of $6.52 and a 52 week high of $11.58. The company has a market cap of $263.07 million, a P/E ratio of -21.95 and a beta of 1.79.

TriplePoint Venture Growth BDC (NYSE:TPVG) last announced its quarterly earnings data on Wednesday, August 7th. The investment management company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.10). TriplePoint Venture Growth BDC had a positive return on equity of 18.24% and a negative net margin of 8.03%. The company had revenue of $27.11 million for the quarter, compared to analysts’ expectations of $28.77 million. During the same quarter in the previous year, the company earned $0.53 earnings per share. Sell-side analysts expect 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 dividend of $0.30 per share. The ex-dividend date was Monday, September 16th. This represents a $1.20 annualized dividend and a dividend yield of 18.22%. TriplePoint Venture Growth BDC’s dividend payout ratio is presently -399.99%.

Insider Transactions at TriplePoint Venture Growth BDC

In other news, President Sajal Srivastava bought 11,298 shares of TriplePoint Venture Growth BDC stock in a transaction that occurred on Monday, August 12th. The shares were purchased at an average price of $7.02 per share, for a total transaction of $79,311.96. Following the completion of the acquisition, the president now owns 250,858 shares of the company’s stock, valued at $1,761,023.16. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.01% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Piper Sandler decreased their target price on shares of 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. LADENBURG THALM/SH SH cut shares of TriplePoint Venture Growth BDC from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $8.50 to $8.00 in a research note 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, Wells Fargo & Company cut their target price on shares of TriplePoint Venture Growth BDC from $8.00 to $6.50 and set an “underweight” rating for the company in a research report on Tuesday. Three analysts have rated the stock with a sell rating and four have given a hold rating to the stock. Based on data from MarketBeat.com, TriplePoint Venture Growth BDC currently has a consensus rating of “Hold” and a consensus price target of $7.85.

About TriplePoint Venture Growth BDC

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.