Y Intercept Hong Kong Ltd Makes New $307,000 Investment in TriplePoint Venture Growth BDC Corp. (NYSE:TPVG)

Y Intercept Hong Kong Ltd acquired a new stake in shares of TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 43,431 shares of the investment management company’s stock, valued at approximately $307,000.

Several other large investors have also modified their holdings of the stock. Commonwealth Equity Services LLC increased its position in TriplePoint Venture Growth BDC by 4.5% during the second quarter. Commonwealth Equity Services LLC now owns 31,132 shares of the investment management company’s stock worth $250,000 after purchasing an additional 1,346 shares during the last quarter. Van ECK Associates Corp raised its position in shares of TriplePoint Venture Growth BDC by 16.4% in 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 during the period. Norden Group LLC boosted its holdings in TriplePoint Venture Growth BDC by 21.4% in the second quarter. Norden Group LLC now owns 21,678 shares of the investment management company’s stock valued at $174,000 after acquiring an additional 3,818 shares during the last quarter. Strategic Financial Concepts LLC purchased a new stake in TriplePoint Venture Growth BDC during the second quarter valued at about $430,000. Finally, EverSource Wealth Advisors LLC purchased a new stake in TriplePoint Venture Growth BDC during the second quarter valued at about $62,000. 12.77% of the stock is currently owned by hedge funds and other institutional investors.

TriplePoint Venture Growth BDC Stock Down 1.5 %

Shares of NYSE:TPVG opened at $7.04 on Wednesday. The company has a market capitalization of $281.94 million, a price-to-earnings ratio of 33.52 and a beta of 1.87. The company has a 50 day moving average of $7.47 and a two-hundred day moving average of $7.79. 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 released its quarterly earnings results on Wednesday, November 6th. The investment management company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. TriplePoint Venture Growth BDC had a net margin of 9.01% and a return on equity of 16.86%. The business had revenue of $26.52 million during the quarter, compared to analyst estimates of $25.65 million. During the same period last year, the business earned $0.54 EPS. On average, equities analysts anticipate that TriplePoint Venture Growth BDC Corp. will post 1.4 earnings per share for the current year.

TriplePoint Venture Growth BDC Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 17.05%. The ex-dividend date is Friday, December 13th. TriplePoint Venture Growth BDC’s payout ratio is 571.43%.

Wall Street Analyst Weigh In

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

TriplePoint Venture Growth BDC Company 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.