Trexquant Investment LP Sells 86,971 Shares of TriplePoint Venture Growth BDC Corp. $TPVG

Key Points

• Trexquant Investment LP reduced its stake in TriplePoint Venture Growth BDC Corp. by 38.3%, selling 86,971 shares, and now owns approximately $978,000 worth of stock.
• TriplePoint Venture Growth BDC reported earnings per share (EPS) of $0.28 for the last quarter, missing analysts' expectations, and had a dividend yield of 13.5% with a recent payout ratio of 115.38%.
• Insiders, including CEO James Labe, have been acquiring shares of the company, with a total of 1,292,100 shares purchased in the last three months, indicating confidence in the company's future.

Trexquant Investment LP cut its holdings in shares of TriplePoint Venture Growth BDC Corp. (NYSE:TPVG - Free Report) by 38.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 140,068 shares of the investment management company's stock after selling 86,971 shares during the quarter. Trexquant Investment LP owned about 0.35% of TriplePoint Venture Growth BDC worth $978,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in TPVG. Two Sigma Investments LP increased its holdings in shares of TriplePoint Venture Growth BDC by 21.9% during the 4th quarter. Two Sigma Investments LP now owns 678,034 shares of the investment management company's stock worth $5,004,000 after acquiring an additional 122,039 shares during the last quarter. Millennium Management LLC increased its holdings in shares of TriplePoint Venture Growth BDC by 180.1% during the 4th quarter. Millennium Management LLC now owns 120,602 shares of the investment management company's stock worth $890,000 after acquiring an additional 77,551 shares during the last quarter. Alpine Global Management LLC acquired a new position in shares of TriplePoint Venture Growth BDC during the 4th quarter worth approximately $477,000. Cubist Systematic Strategies LLC acquired a new position in shares of TriplePoint Venture Growth BDC during the 4th quarter worth approximately $417,000. Finally, Two Sigma Advisers LP increased its holdings in shares of TriplePoint Venture Growth BDC by 6.5% during the 4th quarter. Two Sigma Advisers LP now owns 830,492 shares of the investment management company's stock worth $6,129,000 after acquiring an additional 50,800 shares during the last quarter. 12.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on TPVG. UBS Group reissued a "neutral" rating and set a $7.00 target price (up from $6.50) on shares of TriplePoint Venture Growth BDC in a report on Wednesday, July 16th. Zacks Research raised TriplePoint Venture Growth BDC to a "strong sell" rating in a report on Friday, August 8th. Four research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, TriplePoint Venture Growth BDC has a consensus rating of "Reduce" and a consensus price target of $6.75.

TriplePoint Venture Growth BDC Price Performance

NYSE TPVG traded down $0.11 on Friday, reaching $6.62. The stock had a trading volume of 358,891 shares, compared to its average volume of 328,152. The firm has a fifty day moving average of $6.78 and a two-hundred day moving average of $6.77. TriplePoint Venture Growth BDC Corp. has a 1-year low of $5.53 and a 1-year high of $8.50. The company has a market cap of $266.92 million, a P/E ratio of 6.37 and a beta of 1.48.

TriplePoint Venture Growth BDC (NYSE:TPVG - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The investment management company reported $0.28 EPS for the quarter, missing analysts' consensus estimates of $0.30 by ($0.02). TriplePoint Venture Growth BDC had a net margin of 42.16% and a return on equity of 13.78%. The firm had revenue of $23.28 million during the quarter, compared to analyst estimates of $23.75 million. Research analysts predict that TriplePoint Venture Growth BDC Corp. will post 1.4 EPS for the current fiscal year.

TriplePoint Venture Growth BDC Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 13.9%. The ex-dividend date is Tuesday, September 16th. TriplePoint Venture Growth BDC's dividend payout ratio is presently 115.38%.

Insiders Place Their Bets

In related news, insider Sajal Srivastava bought 48,800 shares of the business's stock in a transaction dated Wednesday, September 3rd. The stock was purchased at an average cost of $6.77 per share, for a total transaction of $330,376.00. Following the transaction, the insider owned 591,235 shares in the company, valued at $4,002,660.95. The trade was a 9.00% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO James Labe bought 48,800 shares of the business's stock in a transaction dated Wednesday, September 3rd. The shares were bought at an average price of $6.77 per share, with a total value of $330,376.00. Following the completion of the transaction, the chief executive officer owned 591,235 shares in the company, valued at approximately $4,002,660.95. This trade represents a 9.00% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 1,292,100 shares of company stock valued at $8,437,508. Corporate insiders own 1.46% of the company's stock.

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.