International Assets Investment Management LLC Lowers Stake in TriplePoint Venture Growth BDC Corp. (NYSE:TPVG)

International Assets Investment Management LLC lessened its stake in TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) by 85.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,245 shares of the investment management company’s stock after selling 92,385 shares during the period. International Assets Investment Management LLC’s holdings in TriplePoint Venture Growth BDC were worth $116,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. McIlrath & Eck LLC bought a new stake in TriplePoint Venture Growth BDC during the 3rd quarter valued at $51,000. Y Intercept Hong Kong Ltd purchased a new stake in shares of TriplePoint Venture Growth BDC during the 3rd quarter worth $307,000. XTX Topco Ltd bought a new stake in TriplePoint Venture Growth BDC during the third quarter valued at about $118,000. Jane Street Group LLC grew its stake in TriplePoint Venture Growth BDC by 712.4% in the third quarter. Jane Street Group LLC now owns 104,997 shares of the investment management company’s stock valued at $741,000 after purchasing an additional 92,072 shares during the last quarter. Finally, Quadrature Capital Ltd bought a new position in TriplePoint Venture Growth BDC in the third quarter worth about $99,000. Institutional investors own 12.77% of the company’s stock.

TriplePoint Venture Growth BDC Trading Up 0.9 %

Shares of TPVG opened at $7.58 on Wednesday. The company’s 50-day moving average price is $7.74 and its 200 day moving average price is $7.58. TriplePoint Venture Growth BDC Corp. has a 12-month low of $6.44 and a 12-month high of $11.58. The firm has a market cap of $303.57 million, a P/E ratio of 36.10 and a beta of 1.88.

TriplePoint Venture Growth BDC (NYSE:TPVG) last issued its quarterly earnings results on Wednesday, November 6th. The investment management company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. The company had revenue of $26.52 million for the quarter, compared to analyst estimates of $25.65 million. TriplePoint Venture Growth BDC had a net margin of 9.01% and a return on equity of 16.86%. During the same period in the prior year, the firm earned $0.54 earnings per share. Equities research analysts forecast that TriplePoint Venture Growth BDC Corp. will post 1.4 earnings per share for the current year.

TriplePoint Venture Growth BDC Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were paid a $0.30 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $1.20 annualized dividend and a yield of 15.83%. TriplePoint Venture Growth BDC’s dividend payout ratio is presently 571.43%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on TPVG shares. StockNews.com raised TriplePoint Venture Growth BDC from a “sell” rating to a “hold” rating in a research report on Friday, November 15th. Wells Fargo & Company upped their target price on TriplePoint Venture Growth BDC from $6.50 to $7.50 and gave the company an “equal weight” rating in a research report on Tuesday, November 19th. Keefe, Bruyette & Woods upgraded TriplePoint Venture Growth BDC from an “underperform” rating to a “market perform” rating and decreased their price target for the company from $8.00 to $7.50 in a research note on Thursday, November 7th. Piper Sandler dropped their price target on TriplePoint Venture Growth BDC from $8.00 to $7.50 and set a “neutral” rating on the stock in a research note on Thursday, November 7th. Finally, Compass Point increased their price objective on shares of TriplePoint Venture Growth BDC from $7.50 to $8.00 and gave the company a “neutral” rating in a research report on Thursday, December 5th. Seven research analysts have rated the stock with a hold rating, According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $7.70.

TriplePoint Venture Growth BDC 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.