TriplePoint Venture Growth BDC (NYSE:TPVG) Given Market Outperform Rating at JMP Securities

JMP Securities reaffirmed their market outperform rating on shares of TriplePoint Venture Growth BDC (NYSE:TPVG – Get Rating) in a report released on Monday, Benzinga reports. The firm currently has a $13.50 target price on the investment management company’s stock.

Several other equities research analysts have also commented on TPVG. Piper Sandler dropped their price target on shares of TriplePoint Venture Growth BDC from $13.50 to $12.00 in a research note on Friday, December 16th. Keefe, Bruyette & Woods lowered shares of TriplePoint Venture Growth BDC from a market perform rating to an underperform rating and dropped their price target for the company from $13.00 to $10.00 in a research note on Tuesday, December 20th. Finally, UBS Group initiated coverage on shares of TriplePoint Venture Growth BDC in a research note on Thursday, December 1st. They issued a neutral rating and a $13.50 price target on the stock. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, TriplePoint Venture Growth BDC has an average rating of Hold and an average target price of $12.50.

TriplePoint Venture Growth BDC Stock Up 3.6 %

TPVG opened at $11.14 on Monday. The firm has a market cap of $393.80 million, a price-to-earnings ratio of -18.57 and a beta of 1.72. TriplePoint Venture Growth BDC has a fifty-two week low of $10.10 and a fifty-two week high of $17.98. The company’s 50-day moving average price is $11.74 and its 200 day moving average price is $12.02.

TriplePoint Venture Growth BDC Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Wednesday, March 15th will be issued a $0.40 dividend. The ex-dividend date is Tuesday, March 14th. This is a boost from TriplePoint Venture Growth BDC’s previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a dividend yield of 14.36%. TriplePoint Venture Growth BDC’s dividend payout ratio (DPR) is -246.66%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in TPVG. Great West Life Assurance Co. Can bought a new stake in TriplePoint Venture Growth BDC during the third quarter worth approximately $443,000. Moors & Cabot Inc. bought a new stake in TriplePoint Venture Growth BDC during the third quarter worth approximately $115,000. Summitry LLC bought a new stake in TriplePoint Venture Growth BDC during the third quarter worth approximately $109,000. Virtus ETF Advisers LLC boosted its holdings in TriplePoint Venture Growth BDC by 24.7% during the second quarter. Virtus ETF Advisers LLC now owns 44,839 shares of the investment management company’s stock worth $571,000 after buying an additional 8,894 shares in the last quarter. Finally, Van ECK Associates Corp boosted its holdings in TriplePoint Venture Growth BDC by 3.1% during the third quarter. Van ECK Associates Corp now owns 432,614 shares of the investment management company’s stock worth $4,698,000 after buying an additional 12,951 shares in the last quarter. 20.93% of the stock is currently owned by institutional investors.

About TriplePoint Venture Growth BDC

(Get Rating)

TriplePoint Venture Growth BDC Corp. (the “Company“) is an externally managed, closed-end, non-diversified management investment company that has elected to be regulated as a business development company under the Investment Company Act of 1940, as amended. It was formed to expand the venture growth stage business segment of its sponsor, TriplePoint Capital LLC (“TriplePoint Capital“).