TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) Shares Purchased by Millennium Management LLC

Millennium Management LLC lifted its stake in TriplePoint Venture Growth BDC Corp. (NYSE:TPVG - Free Report) by 180.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 120,602 shares of the investment management company's stock after purchasing an additional 77,551 shares during the period. Millennium Management LLC owned about 0.30% of TriplePoint Venture Growth BDC worth $890,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in TPVG. Summit Securities Group LLC bought a new position in TriplePoint Venture Growth BDC in the 4th quarter worth about $41,000. Avenir Corp bought a new position in TriplePoint Venture Growth BDC in the fourth quarter worth approximately $74,000. EverSource Wealth Advisors LLC grew its stake in TriplePoint Venture Growth BDC by 25.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 10,000 shares of the investment management company's stock worth $74,000 after purchasing an additional 2,000 shares in the last quarter. Strategic Financial Concepts LLC purchased a new position in TriplePoint Venture Growth BDC during the 4th quarter worth $120,000. Finally, Bank of America Corp DE raised its position in TriplePoint Venture Growth BDC by 208.5% during the 4th quarter. Bank of America Corp DE now owns 17,122 shares of the investment management company's stock valued at $126,000 after purchasing an additional 11,572 shares in the last quarter. Hedge funds and other institutional investors own 12.77% of the company's stock.

TriplePoint Venture Growth BDC Trading Up 1.7%

TPVG traded up $0.13 during midday trading on Monday, hitting $7.32. 163,245 shares of the company were exchanged, compared to its average volume of 375,032. The company's 50 day simple moving average is $6.39 and its 200 day simple moving average is $7.23. The firm has a market capitalization of $294.30 million, a price-to-earnings ratio of 34.83 and a beta of 1.47. TriplePoint Venture Growth BDC Corp. has a 1-year low of $5.53 and a 1-year high of $9.55.

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 the consensus estimate of $0.30 by ($0.03). TriplePoint Venture Growth BDC had a return on equity of 16.86% and a net margin of 9.01%. The company had revenue of $22.45 million for the quarter, compared to analyst estimates of $24.90 million. On average, equities analysts anticipate that TriplePoint Venture Growth BDC Corp. will post 1.4 EPS for the current year.

TriplePoint Venture Growth BDC Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 16.40%. The ex-dividend date of this dividend is Monday, June 16th. TriplePoint Venture Growth BDC's payout ratio is presently 129.03%.

Wall Street Analyst Weigh In

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

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.