Kovack Advisors Inc. Cuts Holdings in TriplePoint Venture Growth BDC Corp. (NYSE:TPVG)

Kovack Advisors Inc. lowered its stake in TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) by 39.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,088 shares of the investment management company’s stock after selling 21,221 shares during the period. Kovack Advisors Inc.’s holdings in TriplePoint Venture Growth BDC were worth $359,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. CWM LLC raised its stake in TriplePoint Venture Growth BDC by 127.5% in the fourth quarter. CWM LLC now owns 2,275 shares of the investment management company’s stock valued at $25,000 after buying an additional 1,275 shares in the last quarter. Farmers & Merchants Investments Inc. increased its holdings in shares of TriplePoint Venture Growth BDC by 94.3% in the 4th quarter. Farmers & Merchants Investments Inc. now owns 4,533 shares of the investment management company’s stock valued at $49,000 after acquiring an additional 2,200 shares during the last quarter. Dfpg Investments LLC acquired a new stake in shares of TriplePoint Venture Growth BDC during the 4th quarter worth about $116,000. Portside Wealth Group LLC raised its position in shares of TriplePoint Venture Growth BDC by 10.7% during the 3rd quarter. Portside Wealth Group LLC now owns 11,675 shares of the investment management company’s stock worth $121,000 after acquiring an additional 1,125 shares in the last quarter. Finally, Prime Capital Investment Advisors LLC purchased a new stake in TriplePoint Venture Growth BDC during the third quarter worth approximately $139,000. Hedge funds and other institutional investors own 12.77% of the company’s stock.

TriplePoint Venture Growth BDC Stock Down 0.6 %

NYSE TPVG opened at $9.49 on Tuesday. The business has a 50 day moving average price of $9.70 and a 200 day moving average price of $10.28. TriplePoint Venture Growth BDC Corp. has a 1-year low of $8.88 and a 1-year high of $12.70.

TriplePoint Venture Growth BDC (NYSE:TPVG) last announced its quarterly earnings results on Wednesday, March 6th. The investment management company reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.02). The firm had revenue of $32.97 million during the quarter, compared to analysts’ expectations of $33.38 million. TriplePoint Venture Growth BDC had a negative net margin of 28.96% and a positive return on equity of 19.50%. On average, analysts predict that TriplePoint Venture Growth BDC Corp. will post 1.69 EPS for the current year.

TriplePoint Venture Growth BDC Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 14th were given a $0.40 dividend. The ex-dividend date was Wednesday, March 13th. This represents a $1.60 annualized dividend and a dividend yield of 16.86%. TriplePoint Venture Growth BDC’s dividend payout ratio is presently -145.45%.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. StockNews.com cut shares of TriplePoint Venture Growth BDC from a “hold” rating to a “sell” rating in a report on Thursday, March 7th. Keefe, Bruyette & Woods cut their price target on shares of TriplePoint Venture Growth BDC from $9.50 to $9.00 and set an “underperform” rating on the stock in a research note on Thursday, March 7th. Piper Sandler decreased their price objective on shares of TriplePoint Venture Growth BDC from $11.00 to $10.00 and set a “neutral” rating for the company in a research note on Thursday, March 7th. Wells Fargo & Company cut their target price on TriplePoint Venture Growth BDC from $11.00 to $9.50 and set an “equal weight” rating on the stock in a research report on Thursday, March 7th. Finally, Compass Point upgraded TriplePoint Venture Growth BDC from a “sell” rating to a “neutral” rating and set a $8.75 price target on the stock in a research note on Friday, March 22nd. Two equities research analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $10.38.

TriplePoint Venture Growth BDC Company 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.