TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) Receives $6.75 Consensus Target Price from Brokerages

Shares of TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) have been assigned a consensus recommendation of “Reduce” from the six research firms that are presently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating and four have issued a hold rating on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $6.75.

TPVG has been the topic of a number of research analyst reports. Zacks Research upgraded TriplePoint Venture Growth BDC to a “strong sell” rating in a research report on Friday, August 8th. UBS Group reaffirmed a “neutral” rating and set a $7.00 price objective (up from $6.50) on shares of TriplePoint Venture Growth BDC in a report on Wednesday, July 16th.

Insider Buying and Selling at TriplePoint Venture Growth BDC

In other TriplePoint Venture Growth BDC news, insider Sajal Srivastava acquired 80,000 shares of the company’s stock in a transaction on Monday, August 25th. The stock was acquired at an average cost of $6.48 per share, with a total value of $518,400.00. Following the purchase, the insider directly owned 297,657 shares of the company’s stock, valued at approximately $1,928,817.36. This represents a 36.76% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO James Labe bought 80,000 shares of the firm’s stock in a transaction dated Monday, August 25th. The shares were acquired at an average price of $6.48 per share, for a total transaction of $518,400.00. Following the completion of the transaction, the chief executive officer directly owned 297,657 shares in the company, valued at approximately $1,928,817.36. This represents a 36.76% increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 1,292,100 shares of company stock valued at $8,437,508 in the last quarter. 1.46% of the stock is owned by company insiders.

Institutional Investors Weigh In On TriplePoint Venture Growth BDC

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Nomura Asset Management Co. Ltd. purchased a new position in shares of TriplePoint Venture Growth BDC in the 2nd quarter worth approximately $26,000. Quarry LP lifted its position in TriplePoint Venture Growth BDC by 53.6% in the first quarter. Quarry LP now owns 4,669 shares of the investment management company’s stock worth $33,000 after buying an additional 1,629 shares during the last quarter. Northwestern Mutual Wealth Management Co. bought a new stake in TriplePoint Venture Growth BDC in the second quarter worth $35,000. Private Advisor Group LLC purchased a new position in TriplePoint Venture Growth BDC during the first quarter worth $72,000. Finally, HighTower Advisors LLC bought a new position in TriplePoint Venture Growth BDC during the first quarter valued at $72,000. 12.77% of the stock is currently owned by hedge funds and other institutional investors.

TriplePoint Venture Growth BDC Stock Performance

Shares of NYSE:TPVG opened at $5.93 on Monday. The firm has a market cap of $239.02 million, a price-to-earnings ratio of 5.70 and a beta of 1.48. The firm has a fifty day moving average price of $6.62 and a 200 day moving average price of $6.68. TriplePoint Venture Growth BDC has a fifty-two week low of $5.53 and a fifty-two week high of $8.50.

TriplePoint Venture Growth BDC (NYSE:TPVG) last announced its quarterly earnings results on Wednesday, August 6th. The investment management company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.02). TriplePoint Venture Growth BDC had a return on equity of 13.78% and a net margin of 42.16%.The company had revenue of $23.28 million during the quarter, compared to analysts’ expectations of $23.75 million. As a group, research analysts predict that TriplePoint Venture Growth BDC will post 1.4 earnings per share for the current year.

TriplePoint Venture Growth BDC Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $0.92 dividend on an annualized basis and a yield of 15.5%. TriplePoint Venture Growth BDC’s dividend payout ratio is presently 88.46%.

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.