EverSource Wealth Advisors LLC Increases Stock Holdings in TriplePoint Venture Growth BDC Corp. (NYSE:TPVG)

EverSource Wealth Advisors LLC lifted its position in TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) by 25.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,000 shares of the investment management company’s stock after purchasing an additional 2,000 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in TriplePoint Venture Growth BDC were worth $74,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. McIlrath & Eck LLC acquired a new position in TriplePoint Venture Growth BDC in the third quarter valued at about $51,000. Dynamic Technology Lab Private Ltd acquired a new position in TriplePoint Venture Growth BDC in the third quarter valued at about $83,000. BNP Paribas Financial Markets lifted its position in TriplePoint Venture Growth BDC by 214.3% in the third quarter. BNP Paribas Financial Markets now owns 13,200 shares of the investment management company’s stock valued at $93,000 after buying an additional 9,000 shares during the last quarter. Quadrature Capital Ltd acquired a new position in TriplePoint Venture Growth BDC in the third quarter valued at about $99,000. Finally, Strategic Financial Concepts LLC acquired a new position in TriplePoint Venture Growth BDC in the fourth quarter valued at about $120,000. Hedge funds and other institutional investors own 12.77% of the company’s stock.

TriplePoint Venture Growth BDC Stock Performance

Shares of TPVG opened at $7.07 on Wednesday. The stock has a market capitalization of $283.81 million, a PE ratio of 33.67 and a beta of 1.90. TriplePoint Venture Growth BDC Corp. has a 1 year low of $6.44 and a 1 year high of $9.73. The company’s 50-day simple moving average is $7.74 and its 200-day simple moving average is $7.49.

TriplePoint Venture Growth BDC (NYSE:TPVG) last released its earnings results on Wednesday, March 5th. The investment management company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). TriplePoint Venture Growth BDC had a return on equity of 16.86% and a net margin of 9.01%. The firm had revenue of $25.75 million for the quarter, compared to analysts’ expectations of $26.68 million. On average, sell-side analysts predict that TriplePoint Venture Growth BDC Corp. will post 1.4 earnings per share for the current year.

TriplePoint Venture Growth BDC Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be paid a dividend of $0.30 per share. The ex-dividend date is Monday, March 17th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 16.97%. TriplePoint Venture Growth BDC’s payout ratio is 146.34%.

Analysts Set New Price Targets

TPVG has been the topic of a number of recent analyst reports. Compass Point decreased their target price on shares of TriplePoint Venture Growth BDC from $8.00 to $7.25 and set a “neutral” rating on the stock in a research report on Tuesday. Piper Sandler increased 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 report on Thursday, March 6th. Finally, Wells Fargo & Company cut shares of TriplePoint Venture Growth BDC from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $7.50 to $6.50 in a research report on Monday. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $7.45.

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.