TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) Receives $6.05 Average PT from Brokerages

Shares of TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) have been given an average recommendation of “Reduce” by the six brokerages that are currently covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $5.75.

Several analysts have commented on TPVG shares. Keefe, Bruyette & Woods cut their target price on TriplePoint Venture Growth BDC from $7.00 to $6.50 and set a “market perform” rating on the stock in a research note on Thursday, March 5th. Zacks Research upgraded TriplePoint Venture Growth BDC from a “strong sell” rating to a “hold” rating in a research note on Monday, December 8th. Wells Fargo & Company lowered their price target on TriplePoint Venture Growth BDC from $5.50 to $5.00 and set an “underweight” rating on the stock in a report on Thursday, March 5th. Wall Street Zen raised TriplePoint Venture Growth BDC from a “sell” rating to a “hold” rating in a research report on Saturday, December 6th. Finally, Weiss Ratings downgraded TriplePoint Venture Growth BDC from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, March 12th.

Insider Activity at TriplePoint Venture Growth BDC

In related news, insider Sajal Srivastava acquired 40,000 shares of the stock in a transaction that occurred on Monday, January 5th. The shares were bought at an average price of $6.70 per share, for a total transaction of $268,000.00. Following the completion of the transaction, the insider directly owned 1,876,980 shares in the company, valued at approximately $12,575,766. This trade represents a 2.18% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO James Labe bought 40,000 shares of the company’s stock in a transaction that occurred on Monday, January 5th. The stock was bought at an average price of $6.70 per share, for a total transaction of $268,000.00. Following the acquisition, the chief executive officer directly owned 1,876,980 shares of the company’s stock, valued at $12,575,766. The trade was a 2.18% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought 835,394 shares of company stock valued at $5,397,120 over the last three months. 1.55% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On TriplePoint Venture Growth BDC

Institutional investors and hedge funds have recently modified their holdings of the company. Rockefeller Capital Management L.P. increased its position in TriplePoint Venture Growth BDC by 75.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 7,000 shares of the investment management company’s stock valued at $46,000 after acquiring an additional 3,000 shares during the last quarter. XTX Topco Ltd bought a new position in TriplePoint Venture Growth BDC in the fourth quarter valued at about $354,000. Oxford Asset Management LLP purchased a new position in TriplePoint Venture Growth BDC in the fourth quarter worth about $74,000. Millennium Management LLC grew its stake in shares of TriplePoint Venture Growth BDC by 20.3% during the 4th quarter. Millennium Management LLC now owns 28,036 shares of the investment management company’s stock valued at $183,000 after purchasing an additional 4,729 shares during the period. Finally, Kovack Advisors Inc. grew its stake in shares of TriplePoint Venture Growth BDC by 13.1% during the 4th quarter. Kovack Advisors Inc. now owns 59,383 shares of the investment management company’s stock valued at $388,000 after purchasing an additional 6,864 shares during the period. 12.77% of the stock is currently owned by hedge funds and other institutional investors.

TriplePoint Venture Growth BDC Stock Performance

Shares of TriplePoint Venture Growth BDC stock opened at $5.18 on Monday. The company has a 50-day simple moving average of $5.82 and a two-hundred day simple moving average of $6.01. The stock has a market capitalization of $209.54 million, a PE ratio of 4.21 and a beta of 1.37. TriplePoint Venture Growth BDC has a 52-week low of $4.98 and a 52-week high of $7.53.

TriplePoint Venture Growth BDC (NYSE:TPVG) last posted its quarterly earnings results on Wednesday, March 4th. The investment management company reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01). TriplePoint Venture Growth BDC had a net margin of 54.12% and a return on equity of 12.04%. The firm had revenue of $3.42 million for the quarter, compared to analysts’ expectations of $23.78 million. As a group, equities research analysts forecast that TriplePoint Venture Growth BDC will post 1.4 EPS for the current fiscal year.

TriplePoint Venture Growth BDC Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th will be paid a $0.23 dividend. The ex-dividend date is Tuesday, March 17th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 17.8%. TriplePoint Venture Growth BDC’s payout ratio is currently 74.80%.

About TriplePoint Venture Growth BDC

TriplePoint Venture Growth BDC Inc is a closed-end management investment company externally managed by TriplePoint Capital LLC. The firm specializes in providing customized debt and equity financing to growth-stage, venture capital– and private equity–backed companies. Its financing solutions include senior secured loans, unitranche facilities, subordinated debt and selective equity co-investments tailored to support expansion, working capital needs and strategic initiatives.

Launched in September 2018 and listed on the New York Stock Exchange under the symbol TPVG, TriplePoint Venture Growth BDC leverages the deep industry expertise and established underwriting capabilities of TriplePoint Capital, a venture lender since 2003.