Cambridge Investment Research Advisors Inc. Raises Stock Holdings in TriplePoint Venture Growth BDC Corp. (NYSE:TPVG)

Cambridge Investment Research Advisors Inc. boosted its stake in TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) by 16.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 13,132 shares of the investment management company’s stock after buying an additional 1,833 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in TriplePoint Venture Growth BDC were worth $92,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of TPVG. Raymond James Financial Inc. purchased a new stake in TriplePoint Venture Growth BDC in the 4th quarter valued at about $267,000. EverSource Wealth Advisors LLC raised its holdings in 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 during the period. Quantbot Technologies LP increased its stake in TriplePoint Venture Growth BDC by 176.5% during the fourth quarter. Quantbot Technologies LP now owns 28,810 shares of the investment management company’s stock worth $213,000 after purchasing an additional 18,391 shares during the period. JPMorgan Chase & Co. increased its stake in TriplePoint Venture Growth BDC by 1,475.7% during the fourth quarter. JPMorgan Chase & Co. now owns 36,241 shares of the investment management company’s stock worth $267,000 after purchasing an additional 33,941 shares during the period. Finally, Summit Securities Group LLC purchased a new stake in TriplePoint Venture Growth BDC during the fourth quarter worth about $41,000. 12.77% of the stock is currently owned by hedge funds and other institutional investors.

TriplePoint Venture Growth BDC Stock Performance

TPVG stock opened at $7.18 on Tuesday. The company’s 50 day moving average price is $6.85 and its 200 day moving average price is $7.08. TriplePoint Venture Growth BDC Corp. has a fifty-two week low of $5.53 and a fifty-two week high of $9.17. The firm has a market capitalization of $288.87 million, a price-to-earnings ratio of 7.72 and a beta of 1.46.

TriplePoint Venture Growth BDC (NYSE:TPVG) last released its earnings results on Wednesday, May 7th. The investment management company reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.03). TriplePoint Venture Growth BDC had a return on equity of 14.12% and a net margin of 36.10%. The firm had revenue of $22.45 million for the quarter, compared to analysts’ expectations of $24.90 million. Equities analysts forecast that TriplePoint Venture Growth BDC Corp. will post 1.4 EPS for the current fiscal year.

TriplePoint Venture Growth BDC Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Monday, June 16th. This represents a $1.20 annualized dividend and a dividend yield of 16.71%. TriplePoint Venture Growth BDC’s dividend payout ratio is presently 129.03%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on TPVG. UBS Group cut their price target on shares of TriplePoint Venture Growth BDC from $7.50 to $6.00 and set a “neutral” rating on the stock in a research note on Thursday, April 17th. Wells Fargo & Company cut their price target on shares of 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. Compass Point cut their price target on shares of TriplePoint Venture Growth BDC from $8.00 to $7.25 and set a “neutral” rating on the stock in a research note on Tuesday, March 18th. Piper Sandler cut their price target on shares of TriplePoint Venture Growth BDC from $8.00 to $7.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 8th. Finally, Keefe, Bruyette & Woods cut 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 note on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating and six have given a hold rating to the stock. According to data from MarketBeat.com, TriplePoint Venture Growth BDC presently has a consensus rating of “Hold” and a consensus 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.