Sound Income Strategies LLC Buys 166,476 Shares of TriplePoint Venture Growth BDC Corp. (NYSE:TPVG)

Sound Income Strategies LLC raised its holdings in TriplePoint Venture Growth BDC Corp. (NYSE:TPVG – Get Rating) by 35.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 639,509 shares of the investment management company’s stock after buying an additional 166,476 shares during the period. Sound Income Strategies LLC owned about 1.81% of TriplePoint Venture Growth BDC worth $6,670,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of TPVG. Captrust Financial Advisors bought a new stake in TriplePoint Venture Growth BDC in the second quarter valued at approximately $25,000. BNP Paribas Arbitrage SA bought a new stake in TriplePoint Venture Growth BDC in the second quarter valued at approximately $36,000. Lazard Asset Management LLC bought a new stake in TriplePoint Venture Growth BDC in the first quarter valued at approximately $39,000. Tower Research Capital LLC TRC grew its position in shares of TriplePoint Venture Growth BDC by 28.7% in the third quarter. Tower Research Capital LLC TRC now owns 3,895 shares of the investment management company’s stock valued at $42,000 after purchasing an additional 869 shares during the last quarter. Finally, Summitry LLC acquired a new position in shares of TriplePoint Venture Growth BDC in the third quarter valued at approximately $109,000. Institutional investors own 20.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Piper Sandler decreased their target price on TriplePoint Venture Growth BDC from $13.50 to $12.00 in a research report on Friday, December 16th. UBS Group assumed coverage on TriplePoint Venture Growth BDC in a research report on Thursday, December 1st. They issued a “neutral” rating and a $13.50 target price on the stock. Keefe, Bruyette & Woods downgraded TriplePoint Venture Growth BDC from a “market perform” rating to an “underperform” rating and decreased their target price for the company from $13.00 to $10.00 in a research report on Tuesday, December 20th. JMP Securities reaffirmed a “market outperform” rating and issued a $13.50 target price on shares of TriplePoint Venture Growth BDC in a research report on Monday, March 13th. Finally, StockNews.com assumed coverage on TriplePoint Venture Growth BDC in a research report on Thursday. They issued a “sell” rating on the stock. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $12.50.

TriplePoint Venture Growth BDC Price Performance

NYSE:TPVG traded down $0.16 during trading hours on Friday, reaching $11.17. 473,384 shares of the company were exchanged, compared to its average volume of 251,904. The company has a market capitalization of $394.84 million, a P/E ratio of -18.62 and a beta of 1.72. TriplePoint Venture Growth BDC Corp. has a 1-year low of $10.10 and a 1-year high of $17.98. The business has a 50 day moving average of $11.76 and a 200 day moving average of $11.97.

TriplePoint Venture Growth BDC Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Wednesday, March 15th will be given a dividend of $0.40 per share. The ex-dividend date is Tuesday, March 14th. This represents a $1.60 dividend on an annualized basis and a yield of 14.32%. This is an increase from TriplePoint Venture Growth BDC’s previous quarterly dividend of $0.37. TriplePoint Venture Growth BDC’s dividend payout ratio is currently -266.67%.

About TriplePoint Venture Growth BDC

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TriplePoint Venture Growth BDC Corp. (the “Company“) is an externally managed, closed-end, non-diversified management investment company that has elected to be regulated as a business development company under the Investment Company Act of 1940, as amended. It was formed to expand the venture growth stage business segment of its sponsor, TriplePoint Capital LLC (“TriplePoint Capital“).