Townsquare Capital LLC Grows Position in TriplePoint Venture Growth BDC Corp. (NYSE:TPVG)

Townsquare Capital LLC increased its position in TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) by 11.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 84,873 shares of the investment management company’s stock after purchasing an additional 9,028 shares during the period. Townsquare Capital LLC owned 0.21% of TriplePoint Venture Growth BDC worth $626,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Summit Securities Group LLC purchased a new stake in shares of TriplePoint Venture Growth BDC in the 4th quarter worth about $41,000. McIlrath & Eck LLC bought a new position in shares of TriplePoint Venture Growth BDC during the third quarter valued at approximately $51,000. EverSource Wealth Advisors LLC lifted its holdings in shares of TriplePoint Venture Growth BDC by 25.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 10,000 shares of the investment management company’s stock valued at $74,000 after purchasing an additional 2,000 shares during the last quarter. Strategic Financial Concepts LLC bought a new stake in shares of TriplePoint Venture Growth BDC in the 4th quarter worth approximately $120,000. Finally, XTX Topco Ltd purchased a new stake in shares of TriplePoint Venture Growth BDC in the 3rd quarter worth approximately $118,000. 12.77% of the stock is owned by hedge funds and other institutional investors.

TriplePoint Venture Growth BDC Stock Down 0.1 %

TriplePoint Venture Growth BDC stock opened at $5.98 on Friday. TriplePoint Venture Growth BDC Corp. has a 52-week low of $5.53 and a 52-week high of $9.73. The company has a market cap of $239.82 million, a P/E ratio of 28.45 and a beta of 1.65. The business has a 50-day simple moving average of $7.12 and a two-hundred day simple moving average of $7.36.

TriplePoint Venture Growth BDC (NYSE:TPVG) last issued its quarterly earnings results on Wednesday, March 5th. The investment management company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.03). The business had revenue of $25.75 million for the quarter, compared to analysts’ expectations of $26.68 million. TriplePoint Venture Growth BDC had a return on equity of 16.86% and a net margin of 9.01%. Research analysts anticipate 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 announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 20.08%. The ex-dividend date was Monday, March 17th. TriplePoint Venture Growth BDC’s dividend payout ratio is 146.34%.

Wall Street Analyst Weigh In

Several research firms have commented on TPVG. UBS Group dropped their target price on TriplePoint Venture Growth BDC from $7.50 to $6.00 and set a “neutral” rating on the stock in a report on Thursday. Keefe, Bruyette & Woods reduced their price objective on shares of TriplePoint Venture Growth BDC from $7.50 to $7.00 and set a “market perform” rating for the company in a research note on Tuesday, April 8th. Piper Sandler dropped their target price on shares of TriplePoint Venture Growth BDC from $8.00 to $7.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 8th. Wells Fargo & Company cut TriplePoint Venture Growth BDC from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $7.50 to $6.50 in a research report on Monday, March 17th. Finally, Compass Point lowered their price target on TriplePoint Venture Growth BDC from $8.00 to $7.25 and set a “neutral” rating on the stock in a report on Tuesday, March 18th. One analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $6.96.

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.