TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) Receives Average Rating of “Reduce” from Analysts

Shares of TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) have been given an average recommendation of “Reduce” by the six ratings firms that are currently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating and four have issued a hold rating on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $5.50.

Several analysts have recently issued reports on the company. Zacks Research upgraded TriplePoint Venture Growth BDC from a “strong sell” rating to a “hold” rating in a research report on Friday, May 15th. Weiss Ratings reiterated a “sell (d+)” rating on shares of TriplePoint Venture Growth BDC in a research report on Tuesday, June 9th. Finally, Piper Sandler cut their target price on shares of TriplePoint Venture Growth BDC from $5.50 to $5.00 and set a “neutral” rating for the company in a research note on Monday, July 13th.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of TPVG. Summit Securities Group LLC increased its stake in TriplePoint Venture Growth BDC by 257.1% in the first quarter. Summit Securities Group LLC now owns 5,000 shares of the investment management company’s stock valued at $25,000 after purchasing an additional 3,600 shares during the last quarter. Advisory Services Network LLC purchased a new stake in TriplePoint Venture Growth BDC in the 3rd quarter valued at about $33,000. Northwestern Mutual Wealth Management Co. acquired a new position in shares of TriplePoint Venture Growth BDC during the 2nd quarter valued at about $35,000. Rockefeller Capital Management L.P. lifted its holdings in shares of TriplePoint Venture Growth BDC by 75.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 7,000 shares of the investment management company’s stock worth $46,000 after acquiring an additional 3,000 shares during the period. Finally, Attessa Capital LLC purchased a new position in shares of TriplePoint Venture Growth BDC during the 2nd quarter worth about $67,000. 12.77% of the stock is currently owned by institutional investors and hedge funds.

TriplePoint Venture Growth BDC Price Performance

Shares of TPVG opened at $4.43 on Friday. TriplePoint Venture Growth BDC has a 1-year low of $4.41 and a 1-year high of $7.30. The stock has a market cap of $180.02 million, a price-to-earnings ratio of 4.18 and a beta of 1.28. The firm has a 50 day simple moving average of $5.12 and a 200-day simple moving average of $5.43.

TriplePoint Venture Growth BDC (NYSE:TPVG) last posted its earnings results on Wednesday, May 6th. The investment management company reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.02). The company had revenue of $19.81 million during the quarter, compared to analysts’ expectations of $23.14 million. TriplePoint Venture Growth BDC had a net margin of 46.77% and a return on equity of 11.54%. On average, equities analysts expect that TriplePoint Venture Growth BDC will post 0.95 earnings per share for the current fiscal year.

TriplePoint Venture Growth BDC Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th were paid a dividend of $0.23 per share. The ex-dividend date of this dividend was Tuesday, June 16th. This represents a $0.92 annualized dividend and a dividend yield of 20.7%. TriplePoint Venture Growth BDC’s dividend payout ratio is presently 86.79%.

About TriplePoint Venture Growth BDC

TriplePoint Venture Growth BDC Inc is a closed-end management investment company externally managed by TriplePoint Capital LLC. The firm specializes in providing customized debt and equity financing to growth-stage, venture capital– and private equity–backed companies. Its financing solutions include senior secured loans, unitranche facilities, subordinated debt and selective equity co-investments tailored to support expansion, working capital needs and strategic initiatives.

Launched in September 2018 and listed on the New York Stock Exchange under the symbol TPVG, TriplePoint Venture Growth BDC leverages the deep industry expertise and established underwriting capabilities of TriplePoint Capital, a venture lender since 2003.