TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) Receives $7.85 Consensus PT from Brokerages

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) has earned an average recommendation of “Reduce” from the six ratings firms that are presently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating and four have given a hold rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $7.85.

TPVG has been the topic of several recent analyst reports. LADENBURG THALM/SH SH cut TriplePoint Venture Growth BDC from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $8.50 to $8.00 in a research report on Friday, August 9th. Piper Sandler dropped their price objective on TriplePoint Venture Growth BDC from $9.50 to $8.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Keefe, Bruyette & Woods dropped their price objective on TriplePoint Venture Growth BDC from $9.00 to $8.00 and set an “underperform” rating on the stock in a research report on Friday, August 9th. Finally, Wells Fargo & Company dropped their price objective on TriplePoint Venture Growth BDC from $8.00 to $6.50 and set an “underweight” rating on the stock in a research report on Tuesday, October 29th.

Insider Buying and Selling at TriplePoint Venture Growth BDC

In other news, President Sajal Srivastava purchased 11,298 shares of the business’s stock in a transaction on Monday, August 12th. The stock was acquired at an average cost of $7.02 per share, for a total transaction of $79,311.96. Following the purchase, the president now directly owns 250,858 shares in the company, valued at $1,761,023.16. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.01% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Millennium Management LLC grew its stake in shares of TriplePoint Venture Growth BDC by 169.5% during the 2nd quarter. Millennium Management LLC now owns 432,206 shares of the investment management company’s stock valued at $3,471,000 after acquiring an additional 271,824 shares during the period. Norden Group LLC grew its stake in shares of TriplePoint Venture Growth BDC by 739.7% during the 1st quarter. Norden Group LLC now owns 125,020 shares of the investment management company’s stock valued at $1,185,000 after acquiring an additional 110,132 shares during the period. Van ECK Associates Corp grew its stake in shares of TriplePoint Venture Growth BDC by 16.4% during the 2nd quarter. Van ECK Associates Corp now owns 846,716 shares of the investment management company’s stock valued at $6,799,000 after acquiring an additional 119,184 shares during the period. Marshall Wace LLP bought a new position in shares of TriplePoint Venture Growth BDC during the 2nd quarter valued at approximately $1,486,000. Finally, Magnetar Financial LLC purchased a new position in TriplePoint Venture Growth BDC in the 2nd quarter worth approximately $297,000. 12.77% of the stock is currently owned by institutional investors.

TriplePoint Venture Growth BDC Price Performance

Shares of NYSE:TPVG opened at $6.58 on Thursday. TriplePoint Venture Growth BDC has a 1-year low of $6.52 and a 1-year high of $11.58. The business has a fifty day moving average price of $7.04 and a 200-day moving average price of $8.12. The company has a market capitalization of $262.87 million, a PE ratio of -21.93 and a beta of 1.80.

TriplePoint Venture Growth BDC (NYSE:TPVG) last issued its quarterly earnings results on Wednesday, August 7th. The investment management company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.10). TriplePoint Venture Growth BDC had a negative net margin of 8.03% and a positive return on equity of 18.24%. The company had revenue of $27.11 million for the quarter, compared to the consensus estimate of $28.77 million. During the same quarter in the previous year, the business earned $0.53 earnings per share. On average, sell-side analysts anticipate that TriplePoint Venture Growth BDC will post 1.4 earnings per share for the current fiscal year.

TriplePoint Venture Growth BDC Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 18.24%. TriplePoint Venture Growth BDC’s dividend payout ratio is currently -399.99%.

TriplePoint Venture Growth BDC Company Profile

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.