TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) Receives Average Rating of “Reduce” from Analysts

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) has been given an average recommendation of “Reduce” by the six brokerages that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $6.79.

A number of equities research analysts have issued reports on the company. Compass Point decreased their target price on TriplePoint Venture Growth BDC from $8.00 to $7.25 and set a “neutral” rating for the company in a research report on Tuesday, March 18th. Wells Fargo & Company decreased their price objective on shares of TriplePoint Venture Growth BDC from $6.50 to $5.50 and set an “underweight” rating for the company in a report on Monday, April 28th. Keefe, Bruyette & Woods dropped their target price on shares of TriplePoint Venture Growth BDC from $7.50 to $7.00 and set a “market perform” rating on the stock in a report on Tuesday, April 8th. UBS Group decreased their price target on shares of TriplePoint Venture Growth BDC from $7.50 to $6.00 and set a “neutral” rating for the company in a report on Thursday, April 17th. Finally, Piper Sandler dropped their price objective on TriplePoint Venture Growth BDC from $8.00 to $7.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 8th.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Raymond James Financial Inc. acquired a new stake in shares of TriplePoint Venture Growth BDC in the 4th quarter valued at $267,000. Strategic Financial Concepts LLC bought a new position in TriplePoint Venture Growth BDC during the 4th quarter valued at about $120,000. Aquatic Capital Management LLC acquired a new position in TriplePoint Venture Growth BDC in the fourth quarter valued at about $383,000. EverSource Wealth Advisors LLC boosted its holdings in shares of TriplePoint Venture Growth BDC by 25.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 10,000 shares of the investment management company’s stock worth $74,000 after acquiring an additional 2,000 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in TriplePoint Venture Growth BDC by 1,475.7% during the 4th quarter. JPMorgan Chase & Co. now owns 36,241 shares of the investment management company’s stock worth $267,000 after acquiring an additional 33,941 shares during the last quarter. Institutional investors and hedge funds own 12.77% of the company’s stock.

TriplePoint Venture Growth BDC Stock Performance

Shares of TPVG opened at $6.97 on Tuesday. The firm has a market cap of $280.42 million, a PE ratio of 33.19 and a beta of 1.49. TriplePoint Venture Growth BDC has a twelve month low of $5.53 and a twelve month high of $9.70. The firm’s 50 day moving average price is $6.46 and its 200 day moving average price is $7.30.

TriplePoint Venture Growth BDC (NYSE:TPVG) last posted its earnings results on Wednesday, May 7th. The investment management company reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.03). The company had revenue of $22.45 million for the quarter, compared to the consensus estimate of $24.90 million. TriplePoint Venture Growth BDC had a net margin of 9.01% and a return on equity of 16.86%. On average, sell-side analysts anticipate that TriplePoint Venture Growth BDC will post 1.4 earnings per share for the current fiscal year.

TriplePoint Venture Growth BDC Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 17.22%. The ex-dividend date of this dividend is Monday, June 16th. TriplePoint Venture Growth BDC’s payout ratio is 129.03%.

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.