Kovack Advisors Inc. Boosts Holdings in TriplePoint Venture Growth BDC Corp. (NYSE:TPVG)

Kovack Advisors Inc. raised its stake in shares of TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) by 7.8% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 37,100 shares of the investment management company’s stock after buying an additional 2,700 shares during the period. Kovack Advisors Inc. owned about 0.09% of TriplePoint Venture Growth BDC worth $262,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Aigen Investment Management LP acquired a new position in shares of TriplePoint Venture Growth BDC in the 3rd quarter valued at $138,000. Diversify Wealth Management LLC acquired a new position in shares of TriplePoint Venture Growth BDC in the third quarter worth about $82,000. Diversify Advisory Services LLC raised its position in shares of TriplePoint Venture Growth BDC by 31.2% in the third quarter. Diversify Advisory Services LLC now owns 14,191 shares of the investment management company’s stock worth $94,000 after acquiring an additional 3,378 shares during the period. International Assets Investment Management LLC boosted its stake in shares of 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 worth $760,000 after acquiring an additional 87,535 shares in the last quarter. Finally, Quarry LP acquired a new stake in shares of TriplePoint Venture Growth BDC during the 2nd quarter valued at about $35,000. Institutional investors and hedge funds own 12.77% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. StockNews.com upgraded TriplePoint Venture Growth BDC from a “sell” rating to a “hold” rating in a research report on Friday. Wells Fargo & Company dropped their price target on shares of TriplePoint Venture Growth BDC from $8.00 to $6.50 and set an “underweight” rating on the stock in a research note on Tuesday, October 29th. Keefe, Bruyette & Woods upgraded shares of TriplePoint Venture Growth BDC from an “underperform” rating to a “market perform” rating and reduced their price objective for the stock from $8.00 to $7.50 in a research report on Thursday, November 7th. LADENBURG THALM/SH SH lowered shares of TriplePoint Venture Growth BDC from a “buy” rating to a “neutral” rating and dropped their target price for the company from $8.50 to $8.00 in a research report on Friday, August 9th. Finally, Piper Sandler reduced their price target on shares of TriplePoint Venture Growth BDC from $8.00 to $7.50 and set a “neutral” rating for the company in a research report on Thursday, November 7th. One analyst has rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to data from MarketBeat.com, TriplePoint Venture Growth BDC presently has a consensus rating of “Hold” and a consensus price target of $7.65.

TriplePoint Venture Growth BDC Stock Up 0.1 %

Shares of TPVG opened at $7.90 on Friday. The firm’s fifty day moving average is $7.03 and its two-hundred day moving average is $8.01. The stock has a market cap of $316.40 million, a PE ratio of 37.62 and a beta of 1.80. 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 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. The firm had revenue of $26.52 million for 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 period in the previous year, the business posted $0.54 earnings per share. As a group, research analysts anticipate that TriplePoint Venture Growth BDC Corp. will post 1.4 earnings per share for the current year.

TriplePoint Venture Growth BDC Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be issued a $0.30 dividend. The ex-dividend date is Friday, December 13th. This represents a $1.20 annualized dividend and a dividend yield of 15.19%. TriplePoint Venture Growth BDC’s dividend payout ratio is presently 571.46%.

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.