On September 30, 2023, it was reported that Grimes & Company Inc. acquired a new position in shares of TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) during the second quarter. According to the company’s latest 13F filing with the Securities and Exchange Commission (SEC), the institutional investor purchased 11,633 shares of the investment management company’s stock. This new acquisition is valued at approximately $137,000.
TriplePoint Venture Growth BDC recently announced its quarterly earnings results on August 2nd. The investment management company reported earnings per share (EPS) of $0.53 for the quarter, surpassing the consensus estimate of $0.52 by $0.01. Despite this positive outcome, TriplePoint Venture Growth BDC had a negative net margin of 18.39%, although it did achieve a favorable return on equity of 18.00%. During this period, the company generated $35.15 million in revenue, falling short of analyst estimates which predicted $37.86 million.
Equities research analysts have made their predictions for TriplePoint Venture Growth BDC Corp.’s financial performance for the current fiscal year. As a group, these analysts forecast that the company will post earnings per share (EPS) of 2.05.
It is important to note that investing in stocks involves risk and investors should perform thorough research before making any investment decisions.
These developments with Grimes & Company Inc.’s latest acquisition and TriplePoint Venture Growth BDC Corp.’s quarterly earnings reflect ongoing activity within the investment management industry. As investors carefully analyze such information and make informed decisions based on data like this recent report, they contribute to shaping the financial landscape of today’s market environment.
Investor Confidence in TriplePoint Venture Growth BDC Signals Potential for Growth and Profitability
In recent months, several hedge funds and institutional investors have been actively buying and selling shares of TriplePoint Venture Growth BDC Corp., a leading investment management company. These movements in ownership indicate the interest and confidence that these parties have in the company’s potential for growth and profitability.
One notable example is Confluence Investment Management LLC, which increased its position in TriplePoint Venture Growth BDC by 0.7% during the second quarter of this year. The firm now owns 126,801 shares of the company’s stock, valued at $1,494,000. Tower Research Capital LLC also saw an increase in its position by 28.7% during the third quarter, now owning 3,895 shares worth $42,000.
IHT Wealth Management LLC followed suit with a 3.9% increase in its stake during the fourth quarter, acquiring an additional 953 shares valued at $265,000. Furthermore, B. Riley Wealth Advisors Inc. increased its shareholdings by 2.0% during the first quarter, bringing its total to 51,297 shares worth $620,000.
Cetera Advisor Networks LLC wrapped up this chain of purchases by raising its position by 2.8% during the fourth quarter and currently holds 37,206 shares worth $388,000. In aggregate terms, hedge funds and other institutional investors now own roughly 12.96% of TriplePoint Venture Growth BDC’s stock.
TriplePoint Venture Growth BDC Corp., listed on NYSE under ticker symbol TPVG has experienced a mixed performance on the market recently. On Friday it opened at $10.48 per share revealing a one year low of $9.41 as well as a peak high of $13.47 over the course of twelve months.
With a market capitalization totaling $371.52 million and a beta value indicating higher volatility compared to benchmark indices at 1.77, TriplePoint’s performance has been closely watched by investors. The firm also maintains a negative price-to-earnings ratio of -15.19.
In addition to its market activity, TriplePoint Venture Growth BDC recently announced the declaration of a quarterly dividend scheduled to be paid on September 29th, providing shareholders with an annualized dividend of $1.60 per share. This represents a yield of 15.27% and suggests the company is committed to returning value to its investors.
Various equity analysts have remarked on TriplePoint Venture Growth BDC’s performance and prospects. Compass Point upgraded their rating from “sell” to “neutral” and set a price target of $9.75 per share, while StockNews.com initiated coverage on the company with a “sell” rating. JMP Securities reiterated its “market outperform” rating and suggested a target price of $11.50 per share.
Overall, Bloomberg.com reports that TriplePoint Venture Growth BDC holds a consensus rating of “Hold” among analysts covering the stock, with an average price target of $11.46.
While perplexity surrounds some aspects of TriplePoint’s financial performance and positioning in the market, the steady interest shown by hedge funds and institutional investors speaks volumes about their belief in the company’s resilience and potential for future growth.