Zacks Investment Research downgraded shares of Triplepoint Venture Growth BDC (NYSE:TPVG) from a buy rating to a hold rating in a report issued on Saturday, Zacks.com reports.

According to Zacks, “TriplePoint Venture Growth BDC Corp. is an externally managed, 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 backed by a select group of leading venture capital investors. TriplePoint Venture Growth BDC Corp. is based in United States. “

Shares of TPVG stock opened at $13.91 on Friday. Triplepoint Venture Growth BDC has a 12-month low of $10.25 and a 12-month high of $14.04. The firm has a market capitalization of $344.19 million, a PE ratio of 8.11, a PEG ratio of 2.91 and a beta of 1.22.

Triplepoint Venture Growth BDC (NYSE:TPVG) last announced its quarterly earnings results on Wednesday, March 6th. The investment management company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.06. Triplepoint Venture Growth BDC had a net margin of 56.56% and a return on equity of 12.21%. The company had revenue of $17.80 million during the quarter, compared to analyst estimates of $16.01 million. Sell-side analysts expect that Triplepoint Venture Growth BDC will post 1.6 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Wednesday, March 20th were issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 10.35%. The ex-dividend date of this dividend was Tuesday, March 19th. Triplepoint Venture Growth BDC’s dividend payout ratio (DPR) is 84.21%.

Several hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. lifted its position in Triplepoint Venture Growth BDC by 79.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 81,217 shares of the investment management company’s stock valued at $1,104,000 after acquiring an additional 35,925 shares in the last quarter. Alliancebernstein L.P. lifted its position in Triplepoint Venture Growth BDC by 27.7% in the 3rd quarter. Alliancebernstein L.P. now owns 227,550 shares of the investment management company’s stock valued at $3,092,000 after acquiring an additional 49,329 shares in the last quarter. BlackRock Inc. lifted its position in Triplepoint Venture Growth BDC by 56.9% in the 3rd quarter. BlackRock Inc. now owns 111,074 shares of the investment management company’s stock valued at $1,509,000 after acquiring an additional 40,269 shares in the last quarter. Putnam Investments LLC lifted its position in Triplepoint Venture Growth BDC by 68.7% in the 3rd quarter. Putnam Investments LLC now owns 351,683 shares of the investment management company’s stock valued at $4,780,000 after acquiring an additional 143,230 shares in the last quarter. Finally, Morgan Stanley lifted its position in Triplepoint Venture Growth BDC by 29.3% in the 3rd quarter. Morgan Stanley now owns 131,198 shares of the investment management company’s stock valued at $1,783,000 after acquiring an additional 29,721 shares in the last quarter. 34.60% of the stock is owned by institutional investors.

About Triplepoint Venture Growth BDC

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.

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