Alliancebernstein L.P. cut its stake in TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) by 34.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 212,720 shares of the investment management company’s stock after selling 110,889 shares during the quarter. Alliancebernstein L.P.’s holdings in TriplePoint Venture Growth BDC were worth $3,074,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in the company. SOA Wealth Advisors LLC. purchased a new position in TriplePoint Venture Growth BDC during the 4th quarter worth $43,000. US Bancorp DE purchased a new position in TriplePoint Venture Growth BDC during the 1st quarter worth $43,000. FNY Investment Advisers LLC grew its stake in TriplePoint Venture Growth BDC by 76.4% during the 1st quarter. FNY Investment Advisers LLC now owns 5,558 shares of the investment management company’s stock worth $80,000 after buying an additional 2,408 shares during the last quarter. Crewe Advisors LLC purchased a new position in TriplePoint Venture Growth BDC during the 1st quarter worth $108,000. Finally, National Asset Management Inc. purchased a new position in TriplePoint Venture Growth BDC during the 4th quarter worth $132,000. Institutional investors and hedge funds own 24.96% of the company’s stock.
TPVG has been the subject of a number of research reports. Zacks Investment Research cut TriplePoint Venture Growth BDC from a “hold” rating to a “strong sell” rating in a research report on Saturday, May 8th. Oppenheimer initiated coverage on TriplePoint Venture Growth BDC in a research report on Wednesday, May 19th. They set a “market perform” rating for the company. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $12.25.
TriplePoint Venture Growth BDC (NYSE:TPVG) last issued its quarterly earnings data on Wednesday, May 5th. The investment management company reported $0.29 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by ($0.09). The company had revenue of $19.97 million during the quarter. TriplePoint Venture Growth BDC had a net margin of 57.89% and a return on equity of 11.01%. As a group, research analysts forecast that TriplePoint Venture Growth BDC Corp. will post 1.4 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 30th. Stockholders of record on Wednesday, June 16th will be issued a $0.36 dividend. The ex-dividend date of this dividend is Tuesday, June 15th. This represents a $1.44 annualized dividend and a dividend yield of 8.70%. TriplePoint Venture Growth BDC’s dividend payout ratio (DPR) is presently 91.72%.
About TriplePoint Venture Growth BDC
TriplePoint Venture Growth BDC Corp is a business development company specializing investments in growth stage. It also provides debt financing to venture growth space companies which includes growth capital loans, equipment financings, revolving loans, and direct equity investments. The fund seeks to invest in e-commerce, entertainment, technology and life sciences sector.
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