TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) Shares Purchased by Van ECK Associates Corp

Van ECK Associates Corp grew its stake in shares of TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) by 12.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 661,530 shares of the investment management company’s stock after acquiring an additional 73,924 shares during the period. Van ECK Associates Corp owned about 1.83% of TriplePoint Venture Growth BDC worth $7,185,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. International Assets Investment Management LLC boosted its position in shares of TriplePoint Venture Growth BDC by 1,066.7% in the 4th quarter. International Assets Investment Management LLC now owns 1,265,136 shares of the investment management company’s stock valued at $13,739,000 after purchasing an additional 1,156,701 shares during the period. Golden Green Inc. increased its position in shares of TriplePoint Venture Growth BDC by 2.1% in the third quarter. Golden Green Inc. now owns 143,506 shares of the investment management company’s stock worth $1,501,000 after acquiring an additional 2,971 shares in the last quarter. Virtus ETF Advisers LLC increased its position in shares of TriplePoint Venture Growth BDC by 100.7% in the third quarter. Virtus ETF Advisers LLC now owns 81,440 shares of the investment management company’s stock worth $852,000 after acquiring an additional 40,855 shares in the last quarter. Sigma Planning Corp raised its holdings in shares of TriplePoint Venture Growth BDC by 27.3% during the third quarter. Sigma Planning Corp now owns 76,661 shares of the investment management company’s stock valued at $802,000 after acquiring an additional 16,451 shares during the period. Finally, Samalin Investment Counsel LLC lifted its position in shares of TriplePoint Venture Growth BDC by 9.3% in the 3rd quarter. Samalin Investment Counsel LLC now owns 40,535 shares of the investment management company’s stock valued at $424,000 after acquiring an additional 3,446 shares in the last quarter. 12.77% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on TPVG. StockNews.com lowered TriplePoint Venture Growth BDC from a “hold” rating to a “sell” rating in a report on Thursday, March 7th. Compass Point upgraded TriplePoint Venture Growth BDC from a “sell” rating to a “neutral” rating and set a $8.75 price objective for the company in a research report on Friday, March 22nd. Piper Sandler lowered their target price on TriplePoint Venture Growth BDC from $11.00 to $10.00 and set a “neutral” rating on the stock in a research note on Thursday, March 7th. JMP Securities reissued a “market perform” rating on shares of TriplePoint Venture Growth BDC in a research report on Thursday, March 7th. Finally, Wells Fargo & Company lowered their price objective on shares of TriplePoint Venture Growth BDC from $11.00 to $9.50 and set an “equal weight” rating on the stock in a research report on Thursday, March 7th. Two equities research 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 presently has an average rating of “Hold” and an average price target of $10.38.

TriplePoint Venture Growth BDC Trading Down 1.2 %

Shares of NYSE:TPVG opened at $9.20 on Friday. TriplePoint Venture Growth BDC Corp. has a 1 year low of $8.88 and a 1 year high of $12.70. The business has a fifty day simple moving average of $9.56 and a 200 day simple moving average of $10.25.

TriplePoint Venture Growth BDC (NYSE:TPVG) last announced its quarterly earnings data on Wednesday, May 1st. The investment management company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.03). TriplePoint Venture Growth BDC had a positive return on equity of 19.64% and a negative net margin of 29.68%. The firm had revenue of $29.27 million for the quarter, compared to analysts’ expectations of $31.25 million. During the same quarter in the prior year, the business posted $0.53 earnings per share. Analysts expect that TriplePoint Venture Growth BDC Corp. will post 1.68 earnings per share for the current fiscal year.

TriplePoint Venture Growth BDC Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.60 annualized dividend and a yield of 17.39%. TriplePoint Venture Growth BDC’s dividend payout ratio (DPR) is currently -144.14%.

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.