Dynamic Technology Lab Private Ltd Buys Shares of 11,823 TriplePoint Venture Growth BDC Corp. (NYSE:TPVG)

Dynamic Technology Lab Private Ltd bought a new stake in TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 11,823 shares of the investment management company’s stock, valued at approximately $83,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Millennium Management LLC increased its holdings in TriplePoint Venture Growth BDC by 169.5% during the 2nd quarter. Millennium Management LLC now owns 432,206 shares of the investment management company’s stock worth $3,471,000 after purchasing an additional 271,824 shares during the period. International Assets Investment Management LLC raised its stake in TriplePoint Venture Growth BDC by 435.6% during the 3rd quarter. International Assets Investment Management LLC now owns 107,630 shares of the investment management company’s stock valued at $760,000 after acquiring an additional 87,535 shares during the last quarter. Van ECK Associates Corp raised its stake in shares of TriplePoint Venture Growth BDC by 16.4% during the 2nd quarter. Van ECK Associates Corp now owns 846,716 shares of the investment management company’s stock worth $6,799,000 after buying an additional 119,184 shares in the last quarter. Marshall Wace LLP purchased a new position in TriplePoint Venture Growth BDC in the 2nd quarter valued at approximately $1,486,000. Finally, Magnetar Financial LLC acquired a new stake in TriplePoint Venture Growth BDC during the 2nd quarter valued at $297,000. Hedge funds and other institutional investors own 12.77% of the company’s stock.

TriplePoint Venture Growth BDC Stock Down 0.2 %

Shares of TPVG opened at $8.28 on Wednesday. TriplePoint Venture Growth BDC Corp. has a 12 month low of $6.44 and a 12 month high of $11.58. The company has a 50-day moving average price of $7.25 and a two-hundred day moving average price of $7.89. The stock has a market cap of $331.61 million, a price-to-earnings ratio of 39.43 and a beta of 1.86.

TriplePoint Venture Growth BDC (NYSE:TPVG) last released its earnings results on Wednesday, November 6th. The investment management company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. The firm had revenue of $26.52 million during 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 quarter in the previous year, the business earned $0.54 EPS. Equities research analysts expect that TriplePoint Venture Growth BDC Corp. will post 1.4 EPS for the current fiscal year.

TriplePoint Venture Growth BDC Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.20 annualized dividend and a dividend yield of 14.49%. TriplePoint Venture Growth BDC’s dividend payout ratio is presently 571.43%.

Analyst Ratings Changes

A number of research analysts recently weighed in on TPVG shares. Piper Sandler reduced their target price on TriplePoint Venture Growth BDC from $8.00 to $7.50 and set a “neutral” rating on the stock in a report on Thursday, November 7th. Keefe, Bruyette & Woods upgraded TriplePoint Venture Growth BDC from an “underperform” rating to a “market perform” rating and decreased their price target for the stock from $8.00 to $7.50 in a research note on Thursday, November 7th. LADENBURG THALM/SH SH downgraded TriplePoint Venture Growth BDC from a “buy” rating to a “neutral” rating and decreased their target price for the company from $8.50 to $8.00 in a research note on Friday, August 9th. Wells Fargo & Company boosted their target price on TriplePoint Venture Growth BDC from $6.50 to $7.50 and gave the stock an “equal weight” rating in a report on Tuesday, November 19th. Finally, StockNews.com raised TriplePoint Venture Growth BDC from a “sell” rating to a “hold” rating in a report on Friday, November 15th. Seven investment analysts have rated the stock with a hold rating, According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $7.85.

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.