Brokerages Set TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) Price Target at $7.70

Shares of TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) have received a consensus rating of “Hold” from the six brokerages that are presently covering the firm, MarketBeat reports. Six investment analysts have rated the stock with a hold rating. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $7.70.

TPVG has been the subject of a number of recent research reports. Piper Sandler lowered their target price on TriplePoint Venture Growth BDC from $8.00 to $7.50 and set a “neutral” rating for the company in a report on Thursday, November 7th. Wells Fargo & Company upped their price objective on TriplePoint Venture Growth BDC from $6.50 to $7.50 and gave the company an “equal weight” rating in a research note on Tuesday, November 19th. Compass Point lifted their target price on shares of TriplePoint Venture Growth BDC from $7.50 to $8.00 and gave the stock a “neutral” rating in a research report on Thursday, December 5th. StockNews.com upgraded shares of TriplePoint Venture Growth BDC from a “sell” rating to a “hold” rating in a research report on Friday, November 15th. Finally, Keefe, Bruyette & Woods raised shares of TriplePoint Venture Growth BDC from an “underperform” rating to a “market perform” rating and dropped their price target for the company from $8.00 to $7.50 in a research note on Thursday, November 7th.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Diversify Wealth Management LLC boosted its stake in TriplePoint Venture Growth BDC by 53.4% during the fourth quarter. Diversify Wealth Management LLC now owns 18,830 shares of the investment management company’s stock worth $142,000 after acquiring an additional 6,553 shares in the last quarter. McIlrath & Eck LLC bought a new stake in TriplePoint Venture Growth BDC in the third quarter valued at $51,000. Y Intercept Hong Kong Ltd acquired a new position in shares of TriplePoint Venture Growth BDC during the third quarter valued at about $307,000. XTX Topco Ltd bought a new position in shares of TriplePoint Venture Growth BDC during the 3rd quarter worth about $118,000. Finally, Jane Street Group LLC grew its stake in shares of TriplePoint Venture Growth BDC by 712.4% in the 3rd quarter. Jane Street Group LLC now owns 104,997 shares of the investment management company’s stock valued at $741,000 after buying an additional 92,072 shares during the period. 12.77% of the stock is owned by institutional investors.

TriplePoint Venture Growth BDC Trading Down 1.6 %

TPVG stock opened at $7.61 on Tuesday. The firm has a 50-day moving average price of $7.76 and a 200-day moving average price of $7.58. TriplePoint Venture Growth BDC has a 12 month low of $6.44 and a 12 month high of $11.58. The stock has a market capitalization of $304.58 million, a P/E ratio of 36.22 and a beta of 1.88.

TriplePoint Venture Growth BDC (NYSE:TPVG) last issued its earnings results on Wednesday, November 6th. The investment management company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. The firm had revenue of $26.52 million for the quarter, compared to analyst estimates of $25.65 million. TriplePoint Venture Growth BDC had a net margin of 9.01% and a return on equity of 16.86%. During the same quarter last year, the business posted $0.54 earnings per share. As a group, equities analysts predict that TriplePoint Venture Growth BDC will post 1.4 EPS for the current fiscal year.

TriplePoint Venture Growth BDC Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were issued a $0.30 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $1.20 annualized dividend and a yield of 15.78%. TriplePoint Venture Growth BDC’s payout ratio is 571.46%.

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.