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

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) has earned a consensus recommendation of “Reduce” from the five brokerages that are presently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $10.38.

TPVG has been the subject of a number of research reports. Wells Fargo & Company cut their price target on shares of TriplePoint Venture Growth BDC from $11.00 to $9.50 and set an “equal weight” rating for the company in a research note on Thursday, March 7th. Keefe, Bruyette & Woods lowered their price objective on shares of TriplePoint Venture Growth BDC from $9.50 to $9.00 and set an “underperform” rating for the company in a report on Thursday, March 7th. Compass Point upgraded shares of TriplePoint Venture Growth BDC from a “sell” rating to a “neutral” rating and set a $8.75 price objective for the company in a report on Friday, March 22nd. StockNews.com lowered shares of TriplePoint Venture Growth BDC from a “hold” rating to a “sell” rating in a report on Thursday, March 7th. Finally, Piper Sandler lowered their price objective on shares of TriplePoint Venture Growth BDC from $11.00 to $10.00 and set a “neutral” rating for the company in a report on Thursday, March 7th.

TriplePoint Venture Growth BDC Trading Down 1.4 %

Shares of NYSE:TPVG opened at $9.10 on Friday. The company has a 50 day moving average of $10.04 and a 200 day moving average of $10.34. The stock has a market cap of $342.34 million, a P/E ratio of -8.27 and a beta of 1.77. TriplePoint Venture Growth BDC has a 12 month low of $8.94 and a 12 month high of $12.70.

TriplePoint Venture Growth BDC (NYSE:TPVG) last released its quarterly earnings results on Wednesday, March 6th. The investment management company reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.02). TriplePoint Venture Growth BDC had a positive return on equity of 19.50% and a negative net margin of 28.96%. The company had revenue of $32.97 million during the quarter, compared to analysts’ expectations of $33.38 million. On average, equities analysts forecast that TriplePoint Venture Growth BDC will post 1.69 earnings per share for the current fiscal year.

TriplePoint Venture Growth BDC Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, March 14th were issued a dividend of $0.40 per share. The ex-dividend date was Wednesday, March 13th. This represents a $1.60 dividend on an annualized basis and a yield of 17.58%. TriplePoint Venture Growth BDC’s dividend payout ratio is currently -145.45%.

Institutional Investors Weigh In On TriplePoint Venture Growth BDC

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. International Assets Investment Management LLC raised its holdings in TriplePoint Venture Growth BDC by 1,066.7% during the 4th quarter. International Assets Investment Management LLC now owns 1,265,136 shares of the investment management company’s stock valued at $13,739,000 after buying an additional 1,156,701 shares during the last quarter. Dfpg Investments LLC bought a new stake in TriplePoint Venture Growth BDC during the 4th quarter valued at $116,000. Virtus ETF Advisers LLC raised its holdings in TriplePoint Venture Growth BDC by 100.7% during the 3rd quarter. Virtus ETF Advisers LLC now owns 81,440 shares of the investment management company’s stock valued at $852,000 after buying an additional 40,855 shares during the last quarter. Raymond James & Associates increased its position in TriplePoint Venture Growth BDC by 30.1% during the 3rd quarter. Raymond James & Associates now owns 28,761 shares of the investment management company’s stock valued at $301,000 after purchasing an additional 6,660 shares during the period. Finally, Sigma Planning Corp increased its position in TriplePoint Venture Growth BDC by 27.3% during the 3rd quarter. Sigma Planning Corp now owns 76,661 shares of the investment management company’s stock valued at $802,000 after purchasing an additional 16,451 shares during the period. 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.