64,606 Shares in TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) Acquired by Alpine Global Management LLC

Alpine Global Management LLC purchased a new position in shares of TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 64,606 shares of the investment management company’s stock, valued at approximately $477,000. Alpine Global Management LLC owned about 0.16% of TriplePoint Venture Growth BDC at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC increased its stake in TriplePoint Venture Growth BDC by 25.0% during 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 period. Legal & General Group Plc increased its stake in TriplePoint Venture Growth BDC by 1.3% during the 4th quarter. Legal & General Group Plc now owns 264,486 shares of the investment management company’s stock worth $1,951,000 after acquiring an additional 3,418 shares during the period. Summit Securities Group LLC bought a new position in TriplePoint Venture Growth BDC during the 4th quarter worth $41,000. Diversify Wealth Management LLC increased its stake in TriplePoint Venture Growth BDC by 53.4% during the 4th quarter. Diversify Wealth Management LLC now owns 18,830 shares of the investment management company’s stock worth $142,000 after acquiring an additional 6,553 shares during the period. Finally, Northern Trust Corp increased its stake in TriplePoint Venture Growth BDC by 29.5% during the 4th quarter. Northern Trust Corp now owns 31,176 shares of the investment management company’s stock worth $230,000 after acquiring an additional 7,098 shares during the period. Institutional investors own 12.77% of the company’s stock.

TriplePoint Venture Growth BDC Stock Performance

Shares of TPVG opened at $6.70 on Friday. TriplePoint Venture Growth BDC Corp. has a 52-week low of $5.53 and a 52-week high of $9.55. The business’s fifty day moving average is $6.42 and its 200-day moving average is $7.29. The firm has a market cap of $269.52 million, a price-to-earnings ratio of 31.90 and a beta of 1.49.

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

TriplePoint Venture Growth BDC Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 17.91%. The ex-dividend date of this dividend is Monday, June 16th. TriplePoint Venture Growth BDC’s dividend payout ratio (DPR) is 129.03%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on TPVG shares. Keefe, Bruyette & Woods lowered their price objective on TriplePoint Venture Growth BDC from $7.50 to $7.00 and set a “market perform” rating on the stock in a research note on Tuesday, April 8th. Compass Point lowered their price objective on TriplePoint Venture Growth BDC from $8.00 to $7.25 and set a “neutral” rating on the stock in a research note on Tuesday, March 18th. Piper Sandler lowered their price objective on TriplePoint Venture Growth BDC from $8.00 to $7.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 8th. UBS Group decreased their price target on TriplePoint Venture Growth BDC from $7.50 to $6.00 and set a “neutral” rating on the stock in a research note on Thursday, April 17th. Finally, Wells Fargo & Company decreased their price target on TriplePoint Venture Growth BDC from $6.50 to $5.50 and set an “underweight” rating on the stock in a research note on Monday, April 28th. One research analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. Based on data from MarketBeat.com, TriplePoint Venture Growth BDC presently has an average rating of “Hold” and an average target price of $6.79.

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.