30,714 Shares in TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) Acquired by Balyasny Asset Management L.P.

Balyasny Asset Management L.P. acquired a new position in TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 30,714 shares of the investment management company’s stock, valued at approximately $227,000. Balyasny Asset Management L.P. owned 0.08% of TriplePoint Venture Growth BDC at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Summit Securities Group LLC acquired a new position in TriplePoint Venture Growth BDC in the fourth quarter valued at approximately $41,000. Avenir Corp acquired a new position in TriplePoint Venture Growth BDC in the fourth quarter valued at approximately $74,000. EverSource Wealth Advisors LLC lifted its stake in TriplePoint Venture Growth BDC by 25.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 10,000 shares of the investment management company’s stock valued at $74,000 after buying an additional 2,000 shares during the period. Strategic Financial Concepts LLC acquired a new position in TriplePoint Venture Growth BDC in the fourth quarter valued at approximately $120,000. Finally, Bank of America Corp DE lifted its stake in TriplePoint Venture Growth BDC by 208.5% in the fourth quarter. Bank of America Corp DE now owns 17,122 shares of the investment management company’s stock valued at $126,000 after buying an additional 11,572 shares during the period. 12.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Wells Fargo & Company dropped 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. Piper Sandler dropped their price target 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. Compass Point decreased their price objective on TriplePoint Venture Growth BDC from $8.00 to $7.25 and set a “neutral” rating for the company in a report on Tuesday, March 18th. UBS Group decreased their price objective on TriplePoint Venture Growth BDC from $7.50 to $6.00 and set a “neutral” rating for the company in a report on Thursday, April 17th. Finally, Keefe, Bruyette & Woods decreased their price objective on TriplePoint Venture Growth BDC from $7.50 to $7.00 and set a “market perform” rating for the company in a report on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $6.79.

TriplePoint Venture Growth BDC Stock Up 1.4%

NYSE TPVG opened at $6.71 on Friday. The business has a 50 day moving average price of $6.46 and a 200-day moving average price of $7.29. TriplePoint Venture Growth BDC Corp. has a 52 week low of $5.53 and a 52 week high of $9.70. The company has a market cap of $269.76 million, a price-to-earnings ratio of 31.93 and a beta of 1.49.

TriplePoint Venture Growth BDC (NYSE:TPVG) last announced 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 return on equity of 16.86% and a net margin of 9.01%. The company had revenue of $22.45 million for the quarter, compared to the consensus estimate of $24.90 million. On average, equities research analysts anticipate that TriplePoint Venture Growth BDC Corp. will post 1.4 earnings per share for the current year.

TriplePoint Venture Growth BDC Dividend Announcement

The business also recently declared 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. The ex-dividend date is Monday, June 16th. This represents a $1.20 annualized dividend and a yield of 17.90%. TriplePoint Venture Growth BDC’s dividend payout ratio (DPR) is currently 129.03%.

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.