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

Kovack Advisors Inc. lifted its holdings in shares of TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) by 7.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 37,100 shares of the investment management company’s stock after purchasing an additional 2,700 shares during the quarter. Kovack Advisors Inc.’s holdings in TriplePoint Venture Growth BDC were worth $262,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Millennium Management LLC increased its holdings in TriplePoint Venture Growth BDC by 169.5% in the 2nd quarter. Millennium Management LLC now owns 432,206 shares of the investment management company’s stock valued at $3,471,000 after purchasing an additional 271,824 shares during the last quarter. International Assets Investment Management LLC grew its stake in shares of TriplePoint Venture Growth BDC by 435.6% in the third quarter. International Assets Investment Management LLC now owns 107,630 shares of the investment management company’s stock valued at $760,000 after buying an additional 87,535 shares in the last quarter. Van ECK Associates Corp raised its holdings 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 valued at $6,799,000 after buying an additional 119,184 shares during the period. Marshall Wace LLP purchased a new position in TriplePoint Venture Growth BDC during the 2nd quarter valued at about $1,486,000. Finally, Magnetar Financial LLC acquired a new position in TriplePoint Venture Growth BDC in the 2nd quarter valued at about $297,000. 12.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. StockNews.com raised shares of TriplePoint Venture Growth BDC from a “sell” rating to a “hold” rating in a research report on Friday. Wells Fargo & Company decreased their price target on shares of TriplePoint Venture Growth BDC from $8.00 to $6.50 and set an “underweight” rating for the company in a research report on Tuesday, October 29th. Keefe, Bruyette & Woods raised TriplePoint Venture Growth BDC from an “underperform” rating to a “market perform” rating and cut 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 TriplePoint Venture Growth BDC from a “buy” rating to a “neutral” rating and decreased their target price for the company from $8.50 to $8.00 in a report on Friday, August 9th. Finally, Piper Sandler cut their price target on 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. One equities research analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $7.65.

TriplePoint Venture Growth BDC Trading Up 0.1 %

TriplePoint Venture Growth BDC stock opened at $7.90 on Friday. The company has a fifty day simple moving average of $7.03 and a 200-day simple moving average of $8.01. The stock has a market cap of $316.40 million, a P/E ratio of 37.62 and a beta of 1.80. TriplePoint Venture Growth BDC Corp. has a 12-month low of $6.44 and a 12-month high of $11.58.

TriplePoint Venture Growth BDC (NYSE:TPVG) last announced its quarterly earnings results on Wednesday, November 6th. The investment management company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. TriplePoint Venture Growth BDC had a return on equity of 16.86% and a net margin of 9.01%. The company had revenue of $26.52 million during the quarter, compared to the consensus estimate of $25.65 million. During the same period in the previous year, the business earned $0.54 EPS. As a group, sell-side analysts forecast that TriplePoint Venture Growth BDC Corp. will post 1.4 earnings per share for the current fiscal year.

TriplePoint Venture Growth BDC Dividend Announcement

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