TriplePoint Venture Growth BDC (NYSE:TPVG) Given New $7.50 Price Target at Piper Sandler

TriplePoint Venture Growth BDC (NYSE:TPVG) had its target price cut by Piper Sandler from $8.00 to $7.50 in a research note published on Thursday morning,Benzinga reports. They currently have a neutral rating on the investment management company’s stock.

A number of other equities research analysts also recently issued reports on TPVG. Keefe, Bruyette & Woods upgraded shares of TriplePoint Venture Growth BDC from an “underperform” rating to a “market perform” rating and reduced their price objective for the stock from $8.00 to $7.50 in a research note on Thursday. LADENBURG THALM/SH SH downgraded shares of TriplePoint Venture Growth BDC from a “buy” rating to a “neutral” rating and reduced their price target for the company from $8.50 to $8.00 in a research note on Friday, August 9th. Finally, Wells Fargo & Company lowered their price objective on shares of TriplePoint Venture Growth BDC from $8.00 to $6.50 and set an “underweight” rating for the company in a research report on Tuesday, October 29th. Two equities research analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $7.65.

TriplePoint Venture Growth BDC Stock Performance

Shares of NYSE TPVG traded up $0.32 during midday trading on Thursday, reaching $7.86. The company’s stock had a trading volume of 428,434 shares, compared to its average volume of 361,836. The company has a market cap of $314.01 million, a P/E ratio of 35.98 and a beta of 1.80. The business’s 50 day moving average price is $6.99 and its two-hundred day moving average price is $8.07. TriplePoint Venture Growth BDC has a fifty-two week low of $6.44 and a fifty-two week high of $11.58.

TriplePoint Venture Growth BDC (NYSE:TPVG) last announced its quarterly earnings data 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 net margin of 9.01% and a return on equity of 17.07%. The company had revenue of $27.11 million during the quarter, compared to analyst estimates of $28.77 million. During the same period in the prior year, the firm earned $0.53 earnings per share. Sell-side analysts forecast that TriplePoint Venture Growth BDC will post 1.4 earnings per share for the current fiscal year.

TriplePoint Venture Growth BDC Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 15.27%. The ex-dividend date of this dividend is Friday, December 13th. TriplePoint Venture Growth BDC’s payout ratio is 571.46%.

Insider Transactions at TriplePoint Venture Growth BDC

In other news, President Sajal Srivastava acquired 11,298 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was purchased at an average price of $7.02 per share, for a total transaction of $79,311.96. Following the completion of the acquisition, the president now directly owns 250,858 shares in the company, valued at $1,761,023.16. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.01% of the company’s stock.

Hedge Funds Weigh In On TriplePoint Venture Growth BDC

Several large investors have recently bought and sold shares of TPVG. Quarry LP purchased a new stake in shares of TriplePoint Venture Growth BDC in the second quarter valued at about $35,000. EverSource Wealth Advisors LLC purchased a new position in shares of TriplePoint Venture Growth BDC in the 2nd quarter worth approximately $62,000. Diversify Wealth Management LLC bought a new position in shares of TriplePoint Venture Growth BDC in the third quarter valued at approximately $82,000. Diversify Advisory Services LLC grew its holdings in shares of TriplePoint Venture Growth BDC by 31.2% in the third quarter. Diversify Advisory Services LLC now owns 14,191 shares of the investment management company’s stock valued at $94,000 after acquiring an additional 3,378 shares in the last quarter. Finally, Aigen Investment Management LP purchased a new stake in shares of TriplePoint Venture Growth BDC during the third quarter valued at approximately $138,000. 12.77% of the stock is currently owned by institutional investors.

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.