Cubist Systematic Strategies LLC Makes New $417,000 Investment in TriplePoint Venture Growth BDC Corp. (NYSE:TPVG)

Cubist Systematic Strategies LLC purchased a new position in TriplePoint Venture Growth BDC Corp. (NYSE:TPVG - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 56,463 shares of the investment management company's stock, valued at approximately $417,000. Cubist Systematic Strategies LLC owned 0.14% of TriplePoint Venture Growth BDC at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Balyasny Asset Management L.P. bought a new position in shares of TriplePoint Venture Growth BDC in the fourth quarter worth approximately $227,000. Bank of America Corp DE boosted its position in shares of TriplePoint Venture Growth BDC by 208.5% in the fourth quarter. Bank of America Corp DE now owns 17,122 shares of the investment management company's stock worth $126,000 after purchasing an additional 11,572 shares during the period. Northern Trust Corp boosted its position in shares of TriplePoint Venture Growth BDC by 29.5% in the fourth quarter. Northern Trust Corp now owns 31,176 shares of the investment management company's stock worth $230,000 after purchasing an additional 7,098 shares during the period. Aquatic Capital Management LLC bought a new position in shares of TriplePoint Venture Growth BDC during the fourth quarter worth $383,000. Finally, Alpine Global Management LLC bought a new position in shares of TriplePoint Venture Growth BDC during the fourth quarter worth $477,000. 12.77% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Piper Sandler lowered their price objective on shares of TriplePoint Venture Growth BDC from $8.00 to $7.00 and set a "neutral" rating for the company in a research report on Tuesday, April 8th. UBS Group lowered their target price on shares of TriplePoint Venture Growth BDC from $7.50 to $6.00 and set a "neutral" rating for the company in a report on Thursday, April 17th. Compass Point lowered their target price on shares of TriplePoint Venture Growth BDC from $8.00 to $7.25 and set a "neutral" rating for the company in a report on Tuesday, March 18th. Keefe, Bruyette & Woods lowered their target price on shares of TriplePoint Venture Growth BDC from $7.50 to $7.00 and set a "market perform" rating for the company in a report on Tuesday, April 8th. Finally, Wells Fargo & Company decreased their price objective on shares of TriplePoint Venture Growth BDC from $6.50 to $5.50 and set an "underweight" rating for the company in a report on Monday, April 28th. One analyst has rated the stock with a sell rating and six have assigned a hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $6.79.

TriplePoint Venture Growth BDC Stock Down 0.5%

Shares of NYSE TPVG traded down $0.04 during trading hours on Thursday, hitting $6.72. 41,722 shares of the stock were exchanged, compared to its average volume of 381,941. TriplePoint Venture Growth BDC Corp. has a 12 month low of $5.53 and a 12 month high of $9.55. The firm has a fifty day moving average price of $6.43 and a 200-day moving average price of $7.29. The company has a market cap of $270.16 million, a PE ratio of 31.88 and a beta of 1.49.

TriplePoint Venture Growth BDC (NYSE:TPVG - Get Free Report) last posted its earnings results on Wednesday, May 7th. The investment management company reported $0.27 EPS for the quarter, missing analysts' consensus estimates of $0.30 by ($0.03). TriplePoint Venture Growth BDC had a net margin of 9.01% and a return on equity of 16.86%. The firm had revenue of $22.45 million for the quarter, compared to analysts' expectations of $24.90 million. As a group, equities analysts anticipate 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 company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be given a dividend of $0.30 per share. The ex-dividend date is Monday, June 16th. This represents a $1.20 dividend on an annualized basis and a yield of 17.87%. TriplePoint Venture Growth BDC's payout ratio is 129.03%.

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.