TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) Shares Sold by Comerica Bank

Comerica Bank lessened its holdings in TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) by 48.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,341 shares of the investment management company’s stock after selling 8,785 shares during the quarter. Comerica Bank’s holdings in TriplePoint Venture Growth BDC were worth $69,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of TPVG. Summit Securities Group LLC bought a new position in shares of TriplePoint Venture Growth BDC in the fourth quarter valued at approximately $41,000. Avenir Corp acquired a new position in TriplePoint Venture Growth BDC in the 4th quarter worth about $74,000. EverSource Wealth Advisors LLC grew its stake in shares of TriplePoint Venture Growth BDC by 25.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 10,000 shares of the investment management company’s stock valued at $74,000 after buying an additional 2,000 shares in the last quarter. Strategic Financial Concepts LLC bought a new stake in shares of TriplePoint Venture Growth BDC in the 4th quarter valued at approximately $120,000. Finally, Diversify Wealth Management LLC raised its position in TriplePoint Venture Growth BDC by 53.4% during the fourth quarter. Diversify Wealth Management LLC now owns 18,830 shares of the investment management company’s stock valued at $142,000 after acquiring an additional 6,553 shares in the last quarter. 12.77% of the stock is currently owned by institutional investors and hedge funds.

TriplePoint Venture Growth BDC Stock Performance

Shares of NYSE:TPVG opened at $6.71 on Monday. TriplePoint Venture Growth BDC Corp. has a twelve month low of $5.53 and a twelve month high of $9.70. The business has a fifty day moving average of $6.46 and a 200-day moving average of $7.29. The firm has a market cap of $269.76 million, a PE ratio of 31.93 and a beta of 1.49.

TriplePoint Venture Growth BDC (NYSE:TPVG) last announced its quarterly earnings data on Wednesday, May 7th. The investment management company reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.03). The company had revenue of $22.45 million for the quarter, compared to analyst estimates of $24.90 million. TriplePoint Venture Growth BDC had a return on equity of 16.86% and a net margin of 9.01%. On average, analysts anticipate that TriplePoint Venture Growth BDC Corp. will post 1.4 EPS for the current fiscal year.

TriplePoint Venture Growth BDC Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 17.90%. The ex-dividend date of this dividend is Monday, June 16th. TriplePoint Venture Growth BDC’s payout ratio is presently 129.03%.

Analyst Upgrades and Downgrades

TPVG has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods dropped their price target on shares of TriplePoint Venture Growth BDC from $7.50 to $7.00 and set a “market perform” rating on the stock in a research report on Tuesday, April 8th. Compass Point cut their price objective on shares of TriplePoint Venture Growth BDC from $8.00 to $7.25 and set a “neutral” rating for the company in a research report on Tuesday, March 18th. Wells Fargo & Company lowered their price target on TriplePoint Venture Growth BDC from $6.50 to $5.50 and set an “underweight” rating on the stock in a research note on Monday, April 28th. UBS Group cut their price target on TriplePoint Venture Growth BDC from $7.50 to $6.00 and set a “neutral” rating for the company in a report on Thursday, April 17th. Finally, Piper Sandler lowered their price objective on TriplePoint Venture Growth BDC from $8.00 to $7.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $6.79.

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.