TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) Receives $6.96 Average PT from Analysts

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) has earned a consensus recommendation of “Reduce” from the six analysts that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating and five have given a hold rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $6.9583.

Several brokerages have recently issued reports on TPVG. Piper Sandler decreased their price objective on TriplePoint Venture Growth BDC from $8.00 to $7.00 and set a “neutral” rating for the company in a report on Tuesday, April 8th. Wells Fargo & Company cut their price objective on TriplePoint Venture Growth BDC from $6.50 to $5.50 and set an “underweight” rating for the company in a research note on Monday, April 28th. Keefe, Bruyette & Woods cut their price objective on TriplePoint Venture Growth BDC from $7.50 to $7.00 and set a “market perform” rating for the company in a research note on Tuesday, April 8th. Finally, UBS Group reaffirmed a “neutral” rating and issued a $7.00 price target (up previously from $6.50) on shares of TriplePoint Venture Growth BDC in a report on Wednesday, July 16th.

TriplePoint Venture Growth BDC Price Performance

Shares of TPVG stock opened at $6.89 on Friday. TriplePoint Venture Growth BDC has a 1-year low of $5.53 and a 1-year high of $8.50. The stock’s fifty day moving average price is $7.03 and its 200 day moving average price is $7.03. The company has a market cap of $277.18 million, a price-to-earnings ratio of 7.41 and a beta of 1.46.

TriplePoint Venture Growth BDC (NYSE:TPVG) last issued its quarterly earnings results on Wednesday, May 7th. The investment management company reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.03). The firm had revenue of $22.45 million for the quarter, compared to analyst estimates of $24.90 million. TriplePoint Venture Growth BDC had a return on equity of 14.12% and a net margin of 36.10%. As a group, equities research analysts anticipate that TriplePoint Venture Growth BDC will post 1.4 earnings per share for the current year.

TriplePoint Venture Growth BDC Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 16th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 17.4%. The ex-dividend date was Monday, June 16th. TriplePoint Venture Growth BDC’s payout ratio is 129.03%.

Institutional Investors Weigh In On TriplePoint Venture Growth BDC

Institutional investors have recently added to or reduced their stakes in the business. Quarry LP boosted its stake in shares of TriplePoint Venture Growth BDC by 53.6% during the 1st quarter. Quarry LP now owns 4,669 shares of the investment management company’s stock worth $33,000 after acquiring an additional 1,629 shares in the last quarter. PharVision Advisers LLC raised its position in shares of TriplePoint Venture Growth BDC by 15.7% during the 1st quarter. PharVision Advisers LLC now owns 13,193 shares of the investment management company’s stock worth $92,000 after purchasing an additional 1,789 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its position in shares of TriplePoint Venture Growth BDC by 16.2% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 13,132 shares of the investment management company’s stock worth $92,000 after purchasing an additional 1,833 shares during the last quarter. Legal & General Group Plc raised its position in shares of TriplePoint Venture Growth BDC by 1.3% during the 4th quarter. Legal & General Group Plc now owns 264,486 shares of the investment management company’s stock worth $1,951,000 after purchasing an additional 3,418 shares during the last quarter. Finally, Kovack Advisors Inc. raised its position in shares of TriplePoint Venture Growth BDC by 10.5% during the 2nd quarter. Kovack Advisors Inc. now owns 50,319 shares of the investment management company’s stock worth $353,000 after purchasing an additional 4,800 shares during the last quarter. Hedge funds and other institutional investors own 12.77% of the company’s stock.

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.