Paloma Partners Management Co Takes $282,000 Position in TriplePoint Venture Growth BDC Corp. (NYSE:TPVG)

Paloma Partners Management Co bought a new position in TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 39,981 shares of the investment management company’s stock, valued at approximately $282,000. Paloma Partners Management Co owned about 0.10% of TriplePoint Venture Growth BDC as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Commonwealth Equity Services LLC grew its holdings in TriplePoint Venture Growth BDC by 4.5% in the 2nd quarter. Commonwealth Equity Services LLC now owns 31,132 shares of the investment management company’s stock worth $250,000 after acquiring an additional 1,346 shares during the last quarter. Kovack Advisors Inc. grew its stake in shares of TriplePoint Venture Growth BDC by 7.8% in the third quarter. Kovack Advisors Inc. now owns 37,100 shares of the investment management company’s stock worth $262,000 after purchasing an additional 2,700 shares during the last quarter. U.S. Capital Wealth Advisors LLC increased its holdings in TriplePoint Venture Growth BDC by 19.4% during the 2nd quarter. U.S. Capital Wealth Advisors LLC now owns 19,064 shares of the investment management company’s stock valued at $153,000 after purchasing an additional 3,100 shares during the period. Diversify Advisory Services LLC raised its position in TriplePoint Venture Growth BDC by 31.2% during the 3rd quarter. Diversify Advisory Services LLC now owns 14,191 shares of the investment management company’s stock valued at $94,000 after purchasing an additional 3,378 shares during the last quarter. Finally, Norden Group LLC lifted its holdings in TriplePoint Venture Growth BDC by 21.4% in the 2nd quarter. Norden Group LLC now owns 21,678 shares of the investment management company’s stock worth $174,000 after buying an additional 3,818 shares during the period. 12.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. LADENBURG THALM/SH SH downgraded TriplePoint Venture Growth BDC from a “buy” rating to a “neutral” rating and decreased their target price for the company from $8.50 to $8.00 in a report on Friday, August 9th. StockNews.com raised shares of TriplePoint Venture Growth BDC from a “sell” rating to a “hold” rating in a research report on Friday, November 15th. Compass Point lifted their target price on shares of TriplePoint Venture Growth BDC from $7.50 to $8.00 and gave the company a “neutral” rating in a research note on Thursday. Wells Fargo & Company increased their price target on shares of TriplePoint Venture Growth BDC from $6.50 to $7.50 and gave the stock an “equal weight” rating in a research note on Tuesday, November 19th. Finally, Piper Sandler cut their price objective on TriplePoint Venture Growth BDC from $8.00 to $7.50 and set a “neutral” rating on the stock in a research report on Thursday, November 7th. Seven equities research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, TriplePoint Venture Growth BDC presently has an average rating of “Hold” and a consensus target price of $7.70.

TriplePoint Venture Growth BDC Price Performance

Shares of NYSE TPVG opened at $8.21 on Friday. TriplePoint Venture Growth BDC Corp. has a 1 year low of $6.44 and a 1 year high of $11.58. The firm has a 50-day moving average of $7.31 and a 200 day moving average of $7.89. The stock has a market cap of $328.81 million, a P/E ratio of 39.10 and a beta of 1.87.

TriplePoint Venture Growth BDC (NYSE:TPVG) last issued its quarterly earnings results on Wednesday, November 6th. The investment management company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. TriplePoint Venture Growth BDC had a return on equity of 16.86% and a net margin of 9.01%. The firm had revenue of $26.52 million for the quarter, compared to analysts’ expectations of $25.65 million. During the same period in the previous year, the firm posted $0.54 EPS. Research analysts expect 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 announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be paid a $0.30 dividend. The ex-dividend date is Friday, December 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 14.62%. TriplePoint Venture Growth BDC’s dividend payout ratio is currently 571.46%.

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.