TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) Receives $9.55 Consensus PT from Analysts

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) has been given a consensus rating of “Reduce” by the five research firms that are currently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation and three have assigned a hold recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $9.55.

A number of analysts recently commented on TPVG shares. StockNews.com downgraded shares of TriplePoint Venture Growth BDC from a “hold” rating to a “sell” rating in a report on Thursday, March 7th. Compass Point upgraded TriplePoint Venture Growth BDC from a “sell” rating to a “neutral” rating and set a $8.75 price target on the stock in a report on Friday, March 22nd. Wells Fargo & Company reaffirmed an “underweight” rating and set a $8.50 price objective (down from $9.50) on shares of TriplePoint Venture Growth BDC in a report on Wednesday, May 29th. Keefe, Bruyette & Woods reissued an “underperform” rating and issued a $9.00 target price on shares of TriplePoint Venture Growth BDC in a report on Tuesday, June 18th. Finally, Piper Sandler dropped their price target on TriplePoint Venture Growth BDC from $11.00 to $10.00 and set a “neutral” rating for the company in a research report on Thursday, March 7th.

TriplePoint Venture Growth BDC Trading Down 1.7 %

Shares of TPVG opened at $8.03 on Friday. The firm has a market capitalization of $303.94 million, a PE ratio of -7.23 and a beta of 1.78. The stock’s 50 day moving average is $9.15 and its two-hundred day moving average is $9.95. TriplePoint Venture Growth BDC has a twelve month low of $7.91 and a twelve month high of $12.70.

TriplePoint Venture Growth BDC (NYSE:TPVG) last announced its quarterly earnings data on Wednesday, May 1st. The investment management company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.03). TriplePoint Venture Growth BDC had a positive return on equity of 19.64% and a negative net margin of 29.68%. The business had revenue of $29.27 million for the quarter, compared to analyst estimates of $31.25 million. During the same period in the prior year, the company earned $0.53 EPS. On average, sell-side analysts predict that TriplePoint Venture Growth BDC will post 1.58 EPS for the current year.

TriplePoint Venture Growth BDC Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 19.93%. The ex-dividend date was Friday, June 14th. TriplePoint Venture Growth BDC’s payout ratio is -144.14%.

Institutional Trading of TriplePoint Venture Growth BDC

Large investors have recently made changes to their positions in the stock. International Assets Investment Management LLC boosted its stake in TriplePoint Venture Growth BDC by 1,066.7% in the 4th quarter. International Assets Investment Management LLC now owns 1,265,136 shares of the investment management company’s stock worth $13,739,000 after buying an additional 1,156,701 shares during the last quarter. Van ECK Associates Corp lifted its holdings in shares of TriplePoint Venture Growth BDC by 10.0% during the 1st quarter. Van ECK Associates Corp now owns 727,532 shares of the investment management company’s stock worth $6,897,000 after acquiring an additional 66,002 shares during the period. Norden Group LLC boosted its position in shares of TriplePoint Venture Growth BDC by 739.7% in the first quarter. Norden Group LLC now owns 125,020 shares of the investment management company’s stock worth $1,185,000 after acquiring an additional 110,132 shares during the last quarter. Quadrature Capital Ltd purchased a new stake in TriplePoint Venture Growth BDC in the fourth quarter valued at approximately $655,000. Finally, B. Riley Wealth Advisors Inc. increased its position in TriplePoint Venture Growth BDC by 10.2% during the first quarter. B. Riley Wealth Advisors Inc. now owns 48,852 shares of the investment management company’s stock worth $511,000 after purchasing an additional 4,512 shares during the last quarter. Institutional investors and hedge funds own 12.77% of the company’s stock.

About TriplePoint Venture Growth BDC

TriplePoint Venture Growth BDC Corp. is a business development company specializing investments in venture capital-backed companies at the growth stage investments. It also provides debt financing to venture growth space companies which includes growth capital loans, secured and customized loans, equipment financings, revolving loans and direct equity investments.