Avenir Corp Acquires Shares of 10,000 TriplePoint Venture Growth BDC Corp. (NYSE:TPVG)

Avenir Corp bought a new position in shares of TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 10,000 shares of the investment management company’s stock, valued at approximately $74,000.

Several other large investors also recently modified their holdings of the business. Marshall Wace LLP boosted its holdings in TriplePoint Venture Growth BDC by 12.7% in the fourth quarter. Marshall Wace LLP now owns 364,591 shares of the investment management company’s stock valued at $2,691,000 after acquiring an additional 40,952 shares in the last quarter. Townsquare Capital LLC lifted its position in shares of TriplePoint Venture Growth BDC by 11.9% in the 4th quarter. Townsquare Capital LLC now owns 84,873 shares of the investment management company’s stock worth $626,000 after purchasing an additional 9,028 shares during the period. Raymond James Financial Inc. bought a new stake in shares of TriplePoint Venture Growth BDC during the 4th quarter valued at about $267,000. Legal & General Group Plc increased its position in shares of TriplePoint Venture Growth BDC by 1.3% during the fourth quarter. Legal & General Group Plc now owns 264,486 shares of the investment management company’s stock valued at $1,951,000 after buying an additional 3,418 shares during the period. Finally, ExodusPoint Capital Management LP bought a new position in TriplePoint Venture Growth BDC in the fourth quarter worth about $219,000. 12.77% of the stock is owned by institutional investors.

TriplePoint Venture Growth BDC Stock Performance

Shares of TriplePoint Venture Growth BDC stock opened at $6.01 on Thursday. The company has a 50-day simple moving average of $7.19 and a two-hundred day simple moving average of $7.37. The stock has a market capitalization of $241.22 million, a PE ratio of 28.62 and a beta of 1.65. TriplePoint Venture Growth BDC Corp. has a 52-week low of $5.53 and a 52-week high of $9.73.

TriplePoint Venture Growth BDC (NYSE:TPVG) last released its quarterly earnings data on Wednesday, March 5th. The investment management company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.03). The business had revenue of $25.75 million during the quarter, compared to the consensus estimate of $26.68 million. TriplePoint Venture Growth BDC had a net margin of 9.01% and a return on equity of 16.86%. As a group, equities research analysts forecast that TriplePoint Venture Growth BDC Corp. will post 1.4 EPS for the current fiscal year.

TriplePoint Venture Growth BDC Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $1.20 annualized dividend and a dividend yield of 19.97%. TriplePoint Venture Growth BDC’s dividend payout ratio (DPR) is presently 146.34%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Wells Fargo & Company cut TriplePoint Venture Growth BDC from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $7.50 to $6.50 in a research report on Monday, March 17th. Compass Point reduced their price target on TriplePoint Venture Growth BDC from $8.00 to $7.25 and set a “neutral” rating on the stock in a research note on Tuesday, March 18th. Piper Sandler decreased their price objective on TriplePoint Venture Growth BDC from $8.00 to $7.00 and set a “neutral” rating for the company in a report on Tuesday, April 8th. Finally, Keefe, Bruyette & Woods dropped their target price on shares of TriplePoint Venture Growth BDC from $7.50 to $7.00 and set a “market perform” rating on the stock in a report on Tuesday, April 8th. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $7.15.

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.