Triplepoint Venture Growth BDC Corp (TPVG) Shares Sold by Confluence Investment Management LLC

Confluence Investment Management LLC reduced its stake in Triplepoint Venture Growth BDC Corp (NYSE:TPVG) by 2.2% during the 1st quarter, Holdings Channel reports. The firm owned 712,357 shares of the investment management company’s stock after selling 15,718 shares during the period. Confluence Investment Management LLC’s holdings in Triplepoint Venture Growth BDC were worth $9,802,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in TPVG. Macquarie Group Ltd. purchased a new stake in shares of Triplepoint Venture Growth BDC in the fourth quarter valued at approximately $44,000. Great West Life Assurance Co. Can boosted its position in Triplepoint Venture Growth BDC by 13.3% during the fourth quarter. Great West Life Assurance Co. Can now owns 6,856 shares of the investment management company’s stock worth $72,000 after purchasing an additional 806 shares in the last quarter. Deutsche Bank AG boosted its position in Triplepoint Venture Growth BDC by 31.8% during the fourth quarter. Deutsche Bank AG now owns 10,675 shares of the investment management company’s stock worth $116,000 after purchasing an additional 2,575 shares in the last quarter. Wedbush Securities Inc. purchased a new stake in Triplepoint Venture Growth BDC during the fourth quarter worth $120,000. Finally, Advisor Group Inc. boosted its position in Triplepoint Venture Growth BDC by 21.0% during the fourth quarter. Advisor Group Inc. now owns 40,179 shares of the investment management company’s stock worth $438,000 after purchasing an additional 6,978 shares in the last quarter. Institutional investors own 34.60% of the company’s stock.

TPVG opened at $13.97 on Wednesday. The firm has a market cap of $344.69 million, a price-to-earnings ratio of 8.17, a PEG ratio of 2.91 and a beta of 1.22. Triplepoint Venture Growth BDC Corp has a one year low of $10.25 and a one year high of $14.04.

Triplepoint Venture Growth BDC (NYSE:TPVG) last posted its earnings results on Wednesday, March 6th. The investment management company reported $0.41 EPS for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.06. The company had revenue of $17.80 million for the quarter, compared to the consensus estimate of $16.01 million. Triplepoint Venture Growth BDC had a return on equity of 12.21% and a net margin of 56.56%. As a group, equities analysts predict that Triplepoint Venture Growth BDC Corp will post 1.6 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Wednesday, March 20th were given a dividend of $0.36 per share. The ex-dividend date was Tuesday, March 19th. This represents a $1.44 dividend on an annualized basis and a yield of 10.31%. Triplepoint Venture Growth BDC’s payout ratio is 84.21%.

Separately, Zacks Investment Research upgraded Triplepoint Venture Growth BDC from a “hold” rating to a “buy” rating and set a $15.00 target price on the stock in a research report on Thursday, March 14th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $14.56.

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Triplepoint Venture Growth BDC Profile

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.

See Also: Compound Annual Growth Rate (CAGR)

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Institutional Ownership by Quarter for Triplepoint Venture Growth BDC (NYSE:TPVG)

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