TriplePoint Venture Growth BDC Corp. $TPVG Holdings Decreased by Trexquant Investment LP

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 reduced its stake in shares of TriplePoint Venture Growth BDC Corp. (NYSE:TPVG - Free Report) by 38.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 140,068 shares of the investment management company's stock after selling 86,971 shares during the period. Trexquant Investment LP owned about 0.35% of TriplePoint Venture Growth BDC worth $978,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Two Sigma Advisers LP raised its stake in shares of TriplePoint Venture Growth BDC by 6.5% in the 4th quarter. Two Sigma Advisers LP now owns 830,492 shares of the investment management company's stock valued at $6,129,000 after purchasing an additional 50,800 shares in the last quarter. Two Sigma Investments LP increased its holdings in TriplePoint Venture Growth BDC by 21.9% in the fourth quarter. Two Sigma Investments LP now owns 678,034 shares of the investment management company's stock valued at $5,004,000 after buying an additional 122,039 shares during the last quarter. Millennium Management LLC raised its stake in TriplePoint Venture Growth BDC by 180.1% during the fourth quarter. Millennium Management LLC now owns 120,602 shares of the investment management company's stock valued at $890,000 after buying an additional 77,551 shares in the last quarter. Townsquare Capital LLC lifted its holdings in TriplePoint Venture Growth BDC by 20.6% during the 1st quarter. Townsquare Capital LLC now owns 102,318 shares of the investment management company's stock worth $714,000 after buying an additional 17,445 shares during the last quarter. Finally, Samalin Investment Counsel LLC grew its position in shares of TriplePoint Venture Growth BDC by 16.1% in the 1st quarter. Samalin Investment Counsel LLC now owns 81,906 shares of the investment management company's stock worth $572,000 after acquiring an additional 11,364 shares in the last quarter. Institutional investors own 12.77% of the company's stock.

Insider Transactions at TriplePoint Venture Growth BDC

In other TriplePoint Venture Growth BDC news, CEO James Labe acquired 48,800 shares of TriplePoint Venture Growth BDC stock in a transaction dated Wednesday, September 3rd. The stock was bought at an average price of $6.77 per share, for a total transaction of $330,376.00. Following 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 acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Sajal Srivastava acquired 48,800 shares of the stock in a transaction dated Wednesday, September 3rd. The stock was acquired at an average cost of $6.77 per share, for a total transaction of $330,376.00. Following the purchase, the insider directly owned 591,235 shares in the company, valued at approximately $4,002,660.95. The trade was a 9.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired a total of 1,292,100 shares of company stock valued at $8,437,508 over the last three months. 1.46% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts recently issued reports on TPVG shares. UBS Group restated a "neutral" rating and set a $7.00 price objective (up from $6.50) on shares of TriplePoint Venture Growth BDC in a research note on Wednesday, July 16th. Zacks Research upgraded TriplePoint Venture Growth BDC to a "strong sell" rating in a research report on Friday, August 8th. Four analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Reduce" and an average target price of $6.75.

TriplePoint Venture Growth BDC Stock Down 0.9%

TriplePoint Venture Growth BDC stock traded down $0.06 during trading hours on Tuesday, hitting $6.75. 224,635 shares of the company traded hands, compared to its average volume of 330,116. TriplePoint Venture Growth BDC Corp. has a 1-year low of $5.53 and a 1-year high of $8.50. The firm has a market cap of $272.16 million, a P/E ratio of 6.49 and a beta of 1.48. The firm's 50-day simple moving average is $6.80 and its two-hundred day simple moving average is $6.79.

TriplePoint Venture Growth BDC (NYSE:TPVG - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The investment management company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $23.28 million during the quarter, compared to the consensus estimate of $23.75 million. On average, equities research analysts predict that TriplePoint Venture Growth BDC Corp. will post 1.4 earnings per share for the current year.

TriplePoint Venture Growth BDC Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be given a $0.23 dividend. The ex-dividend date is Tuesday, September 16th. This represents a $0.92 annualized dividend and a yield of 13.6%. TriplePoint Venture Growth BDC's payout ratio is 115.38%.

TriplePoint Venture Growth BDC 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.