PVG Asset Management Corp Invests $1.72 Million in TriplePoint Venture Growth BDC Corp. (TPVG)

PVG Asset Management Corp acquired a new position in shares of TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 123,040 shares of the investment management company’s stock, valued at approximately $1,715,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Two Sigma Investments LP increased its position in shares of TriplePoint Venture Growth BDC Corp. by 25.8% in the fourth quarter. Two Sigma Investments LP now owns 118,267 shares of the investment management company’s stock worth $1,393,000 after buying an additional 24,221 shares in the last quarter. Alyeska Investment Group L.P. increased its position in shares of TriplePoint Venture Growth BDC Corp. by 0.8% in the fourth quarter. Alyeska Investment Group L.P. now owns 307,289 shares of the investment management company’s stock worth $3,620,000 after buying an additional 2,449 shares in the last quarter. Guggenheim Capital LLC increased its position in shares of TriplePoint Venture Growth BDC Corp. by 19.8% in the fourth quarter. Guggenheim Capital LLC now owns 248,510 shares of the investment management company’s stock worth $2,927,000 after buying an additional 41,011 shares in the last quarter. Wells Fargo & Company MN increased its position in shares of TriplePoint Venture Growth BDC Corp. by 12.9% in the first quarter. Wells Fargo & Company MN now owns 388,439 shares of the investment management company’s stock worth $5,415,000 after buying an additional 44,399 shares in the last quarter. Finally, Trexquant Investment LP acquired a new position in shares of TriplePoint Venture Growth BDC Corp. during the first quarter worth about $159,000. 41.50% of the stock is currently owned by institutional investors.

Institutional Ownership by Quarter for TriplePoint Venture Growth BDC Corp. (NYSE:TPVG)

Shares of TriplePoint Venture Growth BDC Corp. (NYSE TPVG) traded down 0.07% on Monday, hitting $13.39. The stock had a trading volume of 85,078 shares. The firm has a 50 day moving average of $13.56 and a 200-day moving average of $13.26. TriplePoint Venture Growth BDC Corp. has a 1-year low of $9.80 and a 1-year high of $14.41.

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) last posted its earnings results on Tuesday, May 9th. The investment management company reported $0.50 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.03. The company had revenue of $14.30 million for the quarter, compared to analysts’ expectations of $14.49 million. TriplePoint Venture Growth BDC Corp. had a return on equity of 11.31% and a net margin of 47.29%. On average, equities research analysts predict that TriplePoint Venture Growth BDC Corp. will post $1.53 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, June 16th. Investors of record on Wednesday, May 31st were paid a $0.36 dividend. The ex-dividend date was Friday, May 26th. This represents a $1.44 annualized dividend and a dividend yield of 10.75%. TriplePoint Venture Growth BDC Corp.’s payout ratio is presently 103.60%.

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A number of research analysts have recently issued reports on TPVG shares. TheStreet raised TriplePoint Venture Growth BDC Corp. from a “c+” rating to a “b-” rating in a research note on Monday, March 6th. Zacks Investment Research raised TriplePoint Venture Growth BDC Corp. from a “hold” rating to a “buy” rating and set a $15.00 price objective on the stock in a research note on Thursday, March 16th. Finally, ValuEngine downgraded TriplePoint Venture Growth BDC Corp. from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, May 23rd. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. TriplePoint Venture Growth BDC Corp. presently has a consensus rating of “Buy” and a consensus price target of $13.43.

In other TriplePoint Venture Growth BDC Corp. news, President Sajal Srivastava bought 8,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 31st. The shares were bought at an average cost of $13.10 per share, with a total value of $104,800.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.31% of the stock is owned by company insiders.

About TriplePoint Venture Growth BDC Corp.

TriplePoint Venture Growth BDC Corp. is a closed-end, non-diversified management investment company. The Company’s investment objective is to maximize its total return to stockholders primarily in the form of current income and, to a lesser extent, capital appreciation by primarily lending with warrants to venture growth stage companies focused in technology, life sciences and other high growth industries, which are backed by TriplePoint Capital LLC’s (TPC) select group of venture capital investors.

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