TriplePoint Venture Growth BDC’s (TPVG) “Underweight” Rating Reaffirmed at Wells Fargo & Company

Wells Fargo & Company restated their underweight rating on shares of TriplePoint Venture Growth BDC (NYSE:TPVGFree Report) in a research note issued to investors on Wednesday, MarketBeat Ratings reports. The brokerage currently has a $8.50 target price on the investment management company’s stock, down from their previous target price of $9.50.

A number of other research firms have also issued reports on TPVG. Keefe, Bruyette & Woods reduced their price target on 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. Piper Sandler reduced their price target on TriplePoint Venture Growth BDC from $11.00 to $10.00 and set a neutral rating on the stock in a research report on Thursday, March 7th. JMP Securities reaffirmed a market perform rating on shares of TriplePoint Venture Growth BDC in a research report on Thursday, March 7th. StockNews.com lowered TriplePoint Venture Growth BDC from a hold rating to a sell rating in a research report on Thursday, March 7th. Finally, Compass Point raised TriplePoint Venture Growth BDC from a sell rating to a neutral rating and set a $8.75 price target on the stock in a research report on Friday, March 22nd. Three analysts have rated the stock with a sell rating and three have issued a hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of Hold and an average price target of $9.55.

Get Our Latest Stock Analysis on TPVG

TriplePoint Venture Growth BDC Trading Down 1.4 %

TPVG opened at $9.26 on Wednesday. The stock’s 50-day moving average price is $9.30 and its 200 day moving average price is $10.21. TriplePoint Venture Growth BDC has a 12-month low of $8.88 and a 12-month high of $12.70. The firm has a market cap of $350.30 million, a price-to-earnings ratio of -8.34 and a beta of 1.75.

TriplePoint Venture Growth BDC (NYSE:TPVGGet Free Report) last posted its earnings results on Wednesday, May 1st. The investment management company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.03). TriplePoint Venture Growth BDC had a positive return on equity of 19.64% and a negative net margin of 29.68%. The firm had revenue of $29.27 million for the quarter, compared to analyst estimates of $31.25 million. During the same period in the previous year, the company posted $0.53 EPS. On average, research analysts forecast that TriplePoint Venture Growth BDC will post 1.58 earnings per share for the current year.

TriplePoint Venture Growth BDC Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be issued a $0.40 dividend. The ex-dividend date is Friday, June 14th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 17.29%. TriplePoint Venture Growth BDC’s payout ratio is currently -144.14%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in TPVG. Raymond James & Associates grew its stake 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 worth $301,000 after buying an additional 6,660 shares during the last quarter. Sigma Planning Corp grew its stake 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 worth $802,000 after buying an additional 16,451 shares during the last quarter. Virtus ETF Advisers LLC grew its stake 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 worth $852,000 after buying an additional 40,855 shares during the last quarter. Van ECK Associates Corp grew its stake in TriplePoint Venture Growth BDC by 6.7% during the 3rd quarter. Van ECK Associates Corp now owns 587,606 shares of the investment management company’s stock worth $6,147,000 after buying an additional 36,675 shares during the last quarter. Finally, Prime Capital Investment Advisors LLC purchased a new position in TriplePoint Venture Growth BDC during the 3rd quarter worth approximately $139,000. Hedge funds and other institutional investors own 12.77% of the company’s stock.

About TriplePoint Venture Growth BDC

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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.

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Analyst Recommendations for TriplePoint Venture Growth BDC (NYSE:TPVG)

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