TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) Given Average Rating of “Reduce” by Brokerages

Shares of TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) have earned a consensus rating of “Reduce” from the five research firms that are covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation and three have issued a hold recommendation on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $9.55.

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

TriplePoint Venture Growth BDC Trading Down 1.4 %

NYSE TPVG opened at $8.06 on Friday. TriplePoint Venture Growth BDC has a twelve month low of $7.91 and a twelve month high of $12.70. The stock has a 50-day moving average of $9.09 and a 200 day moving average of $9.92. The stock has a market capitalization of $304.88 million, a price-to-earnings ratio of -7.26 and a beta of 1.78.

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

TriplePoint Venture Growth BDC Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $1.60 annualized dividend and a yield of 19.86%. TriplePoint Venture Growth BDC’s payout ratio is -144.14%.

Institutional Investors Weigh In On TriplePoint Venture Growth BDC

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. International Assets Investment Management LLC grew its holdings in shares of TriplePoint Venture Growth BDC by 1,066.7% during 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 purchasing an additional 1,156,701 shares during the period. Quadrature Capital Ltd purchased a new position in TriplePoint Venture Growth BDC during the fourth quarter worth about $655,000. Steward Partners Investment Advisory LLC increased its position in shares of TriplePoint Venture Growth BDC by 41.7% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 27,303 shares of the investment management company’s stock valued at $297,000 after acquiring an additional 8,029 shares during the last quarter. Dfpg Investments LLC purchased a new stake in shares of TriplePoint Venture Growth BDC in the 4th quarter valued at approximately $116,000. Finally, Van ECK Associates Corp lifted its holdings in shares of TriplePoint Venture Growth BDC by 12.6% in the 4th quarter. Van ECK Associates Corp now owns 661,530 shares of the investment management company’s stock worth $7,185,000 after acquiring an additional 73,924 shares during the last quarter. Institutional investors and hedge funds own 12.77% of the company’s stock.

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.