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

International Assets Investment Management LLC lowered its position in TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) by 85.8% in the fourth quarter, HoldingsChannel reports. The institutional investor 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 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Millennium Management LLC grew its stake in TriplePoint Venture Growth BDC by 169.5% in the 2nd quarter. Millennium Management LLC now owns 432,206 shares of the investment management company’s stock valued at $3,471,000 after acquiring an additional 271,824 shares during the last quarter. Marshall Wace LLP purchased a new stake in shares of TriplePoint Venture Growth BDC in the second quarter valued at about $1,486,000. Jane Street Group LLC grew its position in shares of 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. Y Intercept Hong Kong Ltd acquired a new stake in shares of TriplePoint Venture Growth BDC in the third quarter valued at approximately $307,000. Finally, Paloma Partners Management Co purchased a new position in shares of TriplePoint Venture Growth BDC during the 3rd quarter worth approximately $282,000. Hedge funds and other institutional investors own 12.77% of the company’s stock.

Wall Street Analyst Weigh In

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

TriplePoint Venture Growth BDC Stock Up 0.9 %

Shares of NYSE:TPVG opened at $7.58 on Wednesday. The company has a market cap of $303.57 million, a P/E ratio of 36.10 and a beta of 1.88. The business has a fifty day simple moving average of $7.74 and a 200-day simple moving average of $7.58. TriplePoint Venture Growth BDC Corp. has a 52 week low of $6.44 and a 52 week high of $11.58.

TriplePoint Venture Growth BDC (NYSE:TPVG) last posted its quarterly earnings results on Wednesday, November 6th. The investment management company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.34 by $0.01. The company had revenue of $26.52 million during the quarter, compared to analysts’ expectations of $25.65 million. TriplePoint Venture Growth BDC had a return on equity of 16.86% and a net margin of 9.01%. During the same quarter in the previous year, the business earned $0.54 EPS. Sell-side analysts expect that TriplePoint Venture Growth BDC Corp. will post 1.4 earnings per share for the current fiscal year.

TriplePoint Venture Growth BDC Announces Dividend

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

About TriplePoint Venture Growth BDC

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.