Millennium Management LLC Purchases 271,824 Shares of TriplePoint Venture Growth BDC Corp. (NYSE:TPVG)

Millennium Management LLC increased its holdings in shares of TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) by 169.5% in the second quarter, according to its most recent filing with the SEC. The fund owned 432,206 shares of the investment management company’s stock after acquiring an additional 271,824 shares during the period. Millennium Management LLC’s holdings in TriplePoint Venture Growth BDC were worth $3,471,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of TPVG. Quarry LP grew its stake in TriplePoint Venture Growth BDC by 43.7% in the 4th quarter. Quarry LP now owns 3,143 shares of the investment management company’s stock worth $34,000 after acquiring an additional 956 shares in the last quarter. EverSource Wealth Advisors LLC purchased a new position in TriplePoint Venture Growth BDC during the 2nd quarter worth $62,000. Farmers & Merchants Investments Inc. raised its position in TriplePoint Venture Growth BDC by 116.9% during the 1st quarter. Farmers & Merchants Investments Inc. now owns 9,833 shares of the investment management company’s stock valued at $93,000 after purchasing an additional 5,300 shares in the last quarter. Hartline Investment Corp purchased a new stake in shares of TriplePoint Venture Growth BDC in the 1st quarter worth $98,000. Finally, Diversify Advisory Services LLC bought a new position in shares of TriplePoint Venture Growth BDC during the 1st quarter worth $126,000. Institutional investors own 12.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on TPVG. LADENBURG THALM/SH SH lowered shares of TriplePoint Venture Growth BDC from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $8.50 to $8.00 in a research note on Friday, August 9th. Keefe, Bruyette & Woods cut their price target on TriplePoint Venture Growth BDC from $9.00 to $8.00 and set an “underperform” rating on the stock in a report on Friday, August 9th. Finally, Piper Sandler decreased their price objective on 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. Three equities research analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. According to data from MarketBeat.com, TriplePoint Venture Growth BDC currently has a consensus rating of “Hold” and an average target price of $8.25.

Insider Buying and Selling at TriplePoint Venture Growth BDC

In related news, President Sajal Srivastava purchased 11,298 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was bought at an average cost of $7.02 per share, with a total value 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.01% of the company’s stock.

TriplePoint Venture Growth BDC Stock Up 0.5 %

Shares of NYSE TPVG opened at $6.67 on Monday. TriplePoint Venture Growth BDC Corp. has a 52 week low of $6.60 and a 52 week high of $11.58. The firm has a market cap of $266.47 million, a P/E ratio of -22.23 and a beta of 1.79. The business’s 50 day moving average price is $7.28 and its 200 day moving average price is $8.39.

TriplePoint Venture Growth BDC (NYSE:TPVG) last released its quarterly earnings data on Wednesday, August 7th. The investment management company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.10). TriplePoint Venture Growth BDC had a negative net margin of 8.03% and a positive return on equity of 18.24%. The business had revenue of $27.11 million during the quarter, compared to analysts’ expectations of $28.77 million. During the same period last year, the company earned $0.53 earnings per share. As a group, research analysts expect that TriplePoint Venture Growth BDC Corp. will post 1.4 earnings per share for the current year.

TriplePoint Venture Growth BDC Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 17.99%. The ex-dividend date was Monday, September 16th. TriplePoint Venture Growth BDC’s dividend payout ratio is currently -399.99%.

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.