EverSource Wealth Advisors LLC Increases Stock Holdings in TriplePoint Venture Growth BDC Corp. (NYSE:TPVG)

EverSource Wealth Advisors LLC raised its stake in TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) by 25.0% during the 4th quarter, HoldingsChannel.com reports. The firm owned 10,000 shares of the investment management company’s stock after acquiring an additional 2,000 shares during the period. EverSource Wealth Advisors LLC’s holdings in TriplePoint Venture Growth BDC were worth $74,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. McIlrath & Eck LLC purchased a new position in TriplePoint Venture Growth BDC in the third quarter valued at approximately $51,000. Dynamic Technology Lab Private Ltd purchased a new position in TriplePoint Venture Growth BDC in the third quarter valued at approximately $83,000. BNP Paribas Financial Markets increased its stake in TriplePoint Venture Growth BDC by 214.3% in the third quarter. BNP Paribas Financial Markets now owns 13,200 shares of the investment management company’s stock valued at $93,000 after purchasing an additional 9,000 shares during the last quarter. Quadrature Capital Ltd purchased a new position in TriplePoint Venture Growth BDC in the third quarter valued at approximately $99,000. Finally, XTX Topco Ltd purchased a new position in TriplePoint Venture Growth BDC in the third quarter valued at approximately $118,000. 12.77% of the stock is currently owned by hedge funds and other institutional investors.

TriplePoint Venture Growth BDC Price Performance

Shares of NYSE TPVG opened at $7.07 on Wednesday. The stock has a fifty day moving average price of $7.74 and a 200 day moving average price of $7.49. TriplePoint Venture Growth BDC Corp. has a 1-year low of $6.44 and a 1-year high of $9.73. The company has a market cap of $283.81 million, a PE ratio of 33.67 and a beta of 1.90.

TriplePoint Venture Growth BDC (NYSE:TPVG) last issued its quarterly earnings results on Wednesday, March 5th. The investment management company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.35 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 $25.75 million for the quarter, compared to analyst estimates of $26.68 million. Analysts anticipate 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 firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 16.97%. The ex-dividend date of this dividend is Monday, March 17th. TriplePoint Venture Growth BDC’s dividend payout ratio (DPR) is currently 146.34%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on TPVG. Piper Sandler raised their target price on shares of TriplePoint Venture Growth BDC from $7.50 to $8.00 and gave the stock a “neutral” rating in a research report on Thursday, March 6th. Compass Point lowered their target price 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. Finally, Wells Fargo & Company lowered shares of TriplePoint Venture Growth BDC from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $7.50 to $6.50 in a research report on Monday. One analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $7.45.

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.