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

Shares of TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) have been given a consensus recommendation of “Reduce” by the six ratings firms that are currently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation and four have issued a hold recommendation on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $5.25.

A number of research analysts have issued reports on the stock. Weiss Ratings downgraded shares of TriplePoint Venture Growth BDC from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, September 1st. Zacks Research upgraded shares of TriplePoint Venture Growth BDC from a “strong sell” rating to a “hold” rating in a research report on Friday, May 15th. Piper Sandler decreased their price target 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. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of TriplePoint Venture Growth BDC from $6.00 to $5.50 and set a “market perform” rating for the company in a report on Thursday, August 6th.

TriplePoint Venture Growth BDC Price Performance

NYSE:TPVG opened at $5.17 on Monday. The company has a market capitalization of $210.27 million, a price-to-earnings ratio of 5.22 and a beta of 1.31. TriplePoint Venture Growth BDC has a 1-year low of $4.39 and a 1-year high of $6.95. The business has a 50 day moving average of $5.01 and a 200 day moving average of $5.18.

TriplePoint Venture Growth BDC (NYSE:TPVG) last released its earnings results on Wednesday, August 5th. The investment management company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.24 by $0.02. TriplePoint Venture Growth BDC had a net margin of 44.58% and a return on equity of 10.68%. The company had revenue of $24.48 million for the quarter, compared to analyst estimates of $22.88 million. As a group, sell-side analysts anticipate that TriplePoint Venture Growth BDC will post 0.94 EPS for the current year.

TriplePoint Venture Growth BDC Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 30th. Stockholders of record on Wednesday, December 16th will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date is Wednesday, December 16th. TriplePoint Venture Growth BDC’s dividend payout ratio (DPR) is presently 92.93%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Bank of America Corp DE purchased a new position in shares of TriplePoint Venture Growth BDC in the 2nd quarter worth about $620,000. Legal & General Group Plc purchased a new position in shares of TriplePoint Venture Growth BDC during the 2nd quarter worth $1,597,000. BlackRock Inc. bought a new stake in TriplePoint Venture Growth BDC during the second quarter valued at about $754,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its holdings in TriplePoint Venture Growth BDC by 19.9% in the 2nd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 14,659 shares of the investment management company’s stock worth $72,000 after acquiring an additional 2,435 shares in the last quarter. Finally, Attessa Capital LLC purchased a new position in shares of TriplePoint Venture Growth BDC during the 2nd quarter valued at $67,000. 12.77% of the stock is currently owned by institutional investors.

TriplePoint Venture Growth BDC Company Profile

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.