TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) Stock Has Consensus Target Price of $5.25 According to Brokerages

Shares of TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) have been given a consensus recommendation of “Reduce” by the six brokerages that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation and five have given a hold recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $5.25.

TPVG has been the subject of a number of research reports. Weiss Ratings raised TriplePoint Venture Growth BDC from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, September 16th. Keefe, Bruyette & Woods cut their price objective on TriplePoint Venture Growth BDC from $6.00 to $5.50 and set a “market perform” rating on the stock in a report on Thursday, August 6th. Finally, Piper Sandler reduced their price objective on TriplePoint Venture Growth BDC from $5.50 to $5.00 and set a “neutral” rating on the stock in a research note on Monday, July 13th.

TriplePoint Venture Growth BDC Stock Performance

Shares of TPVG stock opened at $4.71 on Friday. TriplePoint Venture Growth BDC has a one year low of $4.39 and a one year high of $6.95. The company has a 50 day moving average price of $5.10 and a 200 day moving average price of $5.12. The firm has a market capitalization of $191.74 million, a price-to-earnings ratio of 4.76 and a beta of 1.37.

TriplePoint Venture Growth BDC (NYSE:TPVG) last announced its quarterly earnings results on Wednesday, August 5th. The investment management company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.02. The company had revenue of $22.15 million for the quarter, compared to analyst estimates of $22.88 million. TriplePoint Venture Growth BDC had a net margin of 44.58% and a return on equity of 10.68%. As a group, equities analysts forecast that TriplePoint Venture Growth BDC will post 0.94 EPS for the current fiscal year.

TriplePoint Venture Growth BDC Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 30th. Investors of record on Wednesday, December 16th will be issued a $0.06 dividend. The ex-dividend date is Wednesday, December 16th. This is a negative change from TriplePoint Venture Growth BDC’s previous quarterly dividend of $0.29. This represents a $0.24 annualized dividend and a yield of 5.1%. TriplePoint Venture Growth BDC’s payout ratio is 92.93%.

Insider Buying and Selling

In other TriplePoint Venture Growth BDC news, CEO James Labe acquired 313,865 shares of the firm’s stock in a transaction on Friday, September 18th. The stock was bought at an average cost of $4.71 per share, for a total transaction of $1,478,304.15. Following the completion of the purchase, the chief executive officer directly owned 2,312,354 shares in the company, valued at $10,891,187.34. This represents a 15.71% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Sajal Srivastava sold 313,865 shares of the business’s stock in a transaction that occurred on Friday, September 18th. The stock was sold at an average price of $4.71, for a total transaction of $1,478,304.15. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.55% of the company’s stock.

Institutional Trading of TriplePoint Venture Growth BDC

Institutional investors have recently added to or reduced their stakes in the business. Legal & General Group Plc purchased a new position in TriplePoint Venture Growth BDC in the second quarter valued at about $1,597,000. BlackRock Inc. acquired a new position in shares of TriplePoint Venture Growth BDC during the second quarter worth about $754,000. Bank of America Corp DE purchased a new stake in shares of TriplePoint Venture Growth BDC in the second quarter worth about $620,000. Cetera Investment Advisers boosted its position in shares of TriplePoint Venture Growth BDC by 15.7% in the first quarter. Cetera Investment Advisers now owns 54,299 shares of the investment management company’s stock worth $271,000 after buying an additional 7,355 shares during the period. Finally, Closed End Fund Advisors Inc. purchased a new stake in shares of TriplePoint Venture Growth BDC in the fourth quarter worth about $232,000. 12.77% of the stock is owned by hedge funds and other institutional investors.

About TriplePoint Venture Growth BDC

TriplePoint Venture Growth BDC Corp. (NYSE: TPVG) is a business development company that provides financing to venture capital-backed companies in the growth stage. The company primarily invests in businesses operating in technology, life sciences and other high-growth industries.

Its investment activities generally center on venture growth loans and other debt investments designed to support companies as they expand their operations, develop products and pursue strategic opportunities.