Millennium Management LLC Increases Stake in TriplePoint Venture Growth BDC Corp. (NYSE:TPVG)

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

Several other large investors also recently made changes to their positions in the company. Summit Securities Group LLC bought a new stake in TriplePoint Venture Growth BDC during the 4th quarter valued at $41,000. Avenir Corp bought a new stake in shares of TriplePoint Venture Growth BDC during the fourth quarter worth about $74,000. EverSource Wealth Advisors LLC raised its holdings in shares of TriplePoint Venture Growth BDC by 25.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 10,000 shares of the investment management company's stock worth $74,000 after acquiring an additional 2,000 shares during the last quarter. Strategic Financial Concepts LLC acquired a new stake in shares of TriplePoint Venture Growth BDC in the 4th quarter worth about $120,000. Finally, Bank of America Corp DE lifted its position in TriplePoint Venture Growth BDC by 208.5% in 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 acquiring an additional 11,572 shares in the last quarter. 12.77% of the stock is currently owned by institutional investors and hedge funds.

TriplePoint Venture Growth BDC Stock Performance

NYSE:TPVG traded up $0.08 during trading on Friday, reaching $7.20. The company's stock had a trading volume of 163,217 shares, compared to its average volume of 375,558. 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 market cap of $289.68 million, a price-to-earnings ratio of 34.29 and a beta of 1.47. The firm has a 50 day moving average of $6.39 and a 200-day moving average of $7.24.

TriplePoint Venture Growth BDC (NYSE:TPVG - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The investment management company reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.03). The company had revenue of $22.45 million for the quarter, compared to the consensus estimate of $24.90 million. TriplePoint Venture Growth BDC had a net margin of 9.01% and a return on equity of 16.86%. Equities research analysts forecast that TriplePoint Venture Growth BDC Corp. will post 1.4 earnings per share for the current fiscal year.

TriplePoint Venture Growth BDC Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be paid a dividend of $0.30 per share. The ex-dividend date is Monday, June 16th. This represents a $1.20 annualized dividend and a dividend yield of 16.67%. TriplePoint Venture Growth BDC's payout ratio is currently 129.03%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on TPVG. UBS Group lowered their price objective on TriplePoint Venture Growth BDC from $7.50 to $6.00 and set a "neutral" rating for the company in a research note on Thursday, April 17th. Keefe, Bruyette & Woods lowered their price target on TriplePoint Venture Growth BDC from $7.50 to $7.00 and set a "market perform" rating for the company in a research report on Tuesday, April 8th. 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 report on Tuesday, April 8th. Wells Fargo & Company lowered their target price 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. Finally, Compass Point dropped their price target on shares of TriplePoint Venture Growth BDC from $8.00 to $7.25 and set a "neutral" rating on the stock in a research report on Tuesday, March 18th. One research analyst has rated the stock with a sell rating and six have issued 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 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.