Morgan Stanley Has $1.78 Million Position in Triplepoint Venture Growth BDC Corp (TPVG)

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Morgan Stanley increased its holdings in Triplepoint Venture Growth BDC Corp (NYSE:TPVG) by 29.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 131,198 shares of the investment management company’s stock after purchasing an additional 29,721 shares during the quarter. Morgan Stanley owned 0.53% of Triplepoint Venture Growth BDC worth $1,783,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in TPVG. Putnam Investments LLC raised its holdings 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 worth $4,780,000 after purchasing an additional 143,230 shares during the period. Resource America Inc. acquired a new position in shares of Triplepoint Venture Growth BDC during the third quarter valued at approximately $843,000. Alliancebernstein L.P. raised its holdings in shares of Triplepoint Venture Growth BDC by 27.7% during the third 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 during the last quarter. BlackRock Inc. raised its holdings in shares of Triplepoint Venture Growth BDC by 56.9% during the third 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 during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of Triplepoint Venture Growth BDC by 79.3% during the third 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 during the last quarter. 34.71% of the stock is owned by institutional investors.

Shares of Triplepoint Venture Growth BDC stock opened at $13.48 on Friday. Triplepoint Venture Growth BDC Corp has a 12 month low of $10.25 and a 12 month high of $13.95. The company has a market cap of $334.03 million, a price-to-earnings ratio of 7.88, a PEG ratio of 2.81 and a beta of 1.20.

Triplepoint Venture Growth BDC (NYSE:TPVG) last announced its earnings results on Wednesday, March 6th. The investment management company reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.06. Triplepoint Venture Growth BDC had a return on equity of 12.21% and a net margin of 56.56%. The business had revenue of $17.80 million during the quarter, compared to analysts’ expectations of $16.01 million. Equities research analysts expect that Triplepoint Venture Growth BDC Corp will post 1.59 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Wednesday, March 20th will be issued a dividend of $0.36 per share. The ex-dividend date of this dividend is Tuesday, March 19th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 10.68%. Triplepoint Venture Growth BDC’s payout ratio is currently 84.21%.

A number of brokerages have commented on TPVG. Zacks Investment Research raised Triplepoint Venture Growth BDC from a “hold” rating to a “buy” rating and set a $15.00 target price for the company in a report on Thursday. ValuEngine cut Triplepoint Venture Growth BDC from a “hold” rating to a “sell” rating in a report on Friday, November 30th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $14.31.

In related news, President Sajal Srivastava purchased 7,034 shares of the company’s stock in a transaction dated Thursday, December 20th. The stock was acquired at an average cost of $10.43 per share, for a total transaction of $73,364.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.84% of the stock is owned by corporate insiders.

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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.

Further Reading: Market Capitalization, Large-Caps, Mid-Caps, Small-Caps

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

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