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

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) has received a consensus recommendation of “Reduce” from the five analysts that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation and four have issued a hold recommendation on the company. The average 12 month price target among analysts that have covered the stock in the last year is $9.75.

A number of analysts have recently commented on TPVG shares. StockNews.com cut TriplePoint Venture Growth BDC from a “hold” rating to a “sell” rating in a research report on Thursday, March 7th. Wells Fargo & Company reduced their price objective on 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. Compass Point upgraded shares of TriplePoint Venture Growth BDC from a “sell” rating to a “neutral” rating and set a $8.75 target price on the stock in a research report on Friday, March 22nd. JMP Securities reiterated a “market perform” rating on shares of TriplePoint Venture Growth BDC in a research report on Thursday, March 7th. Finally, 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 on the stock in a research report on Thursday, March 7th.

Institutional Trading of TriplePoint Venture Growth BDC

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Quarry LP raised its position in TriplePoint Venture Growth BDC by 43.7% in the fourth quarter. Quarry LP now owns 3,143 shares of the investment management company’s stock worth $34,000 after acquiring an additional 956 shares in the last quarter. Portside Wealth Group LLC increased its holdings in shares of TriplePoint Venture Growth BDC by 10.7% in the 3rd quarter. Portside Wealth Group LLC now owns 11,675 shares of the investment management company’s stock valued at $121,000 after purchasing an additional 1,125 shares in the last quarter. Commonwealth Equity Services LLC lifted its stake in shares of TriplePoint Venture Growth BDC by 4.1% in the third quarter. Commonwealth Equity Services LLC now owns 31,740 shares of the investment management company’s stock valued at $332,000 after purchasing an additional 1,264 shares during the period. CWM LLC boosted its holdings in TriplePoint Venture Growth BDC by 127.5% during the fourth quarter. CWM LLC now owns 2,275 shares of the investment management company’s stock worth $25,000 after buying an additional 1,275 shares in the last quarter. Finally, Farmers & Merchants Investments Inc. increased its holdings in TriplePoint Venture Growth BDC by 94.3% in the fourth quarter. Farmers & Merchants Investments Inc. now owns 4,533 shares of the investment management company’s stock valued at $49,000 after buying an additional 2,200 shares in the last quarter. Hedge funds and other institutional investors own 12.77% of the company’s stock.

TriplePoint Venture Growth BDC Stock Down 0.2 %

TPVG stock opened at $9.14 on Thursday. The business has a 50 day moving average price of $9.46 and a 200 day moving average price of $10.25. The stock has a market cap of $345.91 million, a price-to-earnings ratio of -8.23 and a beta of 1.75. TriplePoint Venture Growth BDC has a fifty-two week low of $8.88 and a fifty-two week high of $12.70.

TriplePoint Venture Growth BDC (NYSE:TPVG) last issued its quarterly earnings data on Wednesday, May 1st. The investment management company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.03). The company had revenue of $29.27 million for the quarter, compared to analysts’ expectations of $31.25 million. TriplePoint Venture Growth BDC had a positive return on equity of 19.64% and a negative net margin of 29.68%. During the same quarter in the prior year, the firm posted $0.53 EPS. As a group, sell-side analysts anticipate that TriplePoint Venture Growth BDC will post 1.58 EPS for the current year.

TriplePoint Venture Growth BDC Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.60 annualized dividend and a yield of 17.51%. TriplePoint Venture Growth BDC’s dividend payout ratio is currently -144.14%.

About TriplePoint Venture Growth BDC

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.