TriplePoint Venture Growth BDC (NYSE:TPVG) Price Target Lowered to $5.50 at Piper Sandler

TriplePoint Venture Growth BDC (NYSE:TPVG) had its price target trimmed by Piper Sandler from $6.00 to $5.50 in a report released on Tuesday morning,Benzinga reports. The firm currently has a neutral rating on the investment management company’s stock.

Several other equities research analysts have also weighed in on TPVG. Wells Fargo & Company lowered their target price on shares of 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. Zacks Research raised shares of TriplePoint Venture Growth BDC from a “strong sell” rating to a “hold” rating in a report on Monday, December 8th. Weiss Ratings lowered TriplePoint Venture Growth BDC from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, March 12th. Finally, Keefe, Bruyette & Woods decreased their price target on TriplePoint Venture Growth BDC from $7.00 to $6.50 and set a “market perform” rating on the stock in a research report on Thursday, March 5th. Four investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of $5.63.

TriplePoint Venture Growth BDC Trading Down 3.0%

TPVG stock opened at $5.05 on Tuesday. TriplePoint Venture Growth BDC has a 1-year low of $4.48 and a 1-year high of $7.53. The firm has a market cap of $204.27 million, a P/E ratio of 4.10 and a beta of 1.32. The business’s 50 day moving average is $5.35 and its 200-day moving average is $5.84.

TriplePoint Venture Growth BDC (NYSE:TPVG) last released its quarterly earnings data on Wednesday, March 4th. The investment management company reported $0.25 earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $3.42 million during the quarter, compared to the consensus estimate of $23.78 million. Sell-side analysts forecast that TriplePoint Venture Growth BDC will post 1.4 EPS for the current year.

TriplePoint Venture Growth BDC Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th were issued a dividend of $0.23 per share. The ex-dividend date of this dividend was Tuesday, March 17th. This represents a $0.92 dividend on an annualized basis and a yield of 18.2%. TriplePoint Venture Growth BDC’s dividend payout ratio is currently 74.80%.

Insiders Place Their Bets

In other news, CEO James Labe acquired 23,799 shares of the firm’s stock in a transaction on Monday, January 12th. The shares were purchased at an average cost of $6.66 per share, for a total transaction of $158,501.34. Following the transaction, the chief executive officer owned 1,998,489 shares of the company’s stock, valued at approximately $13,309,936.74. This represents a 1.21% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Sajal Srivastava acquired 23,799 shares of the firm’s stock in a transaction on Monday, January 12th. The stock was purchased at an average price of $6.66 per share, for a total transaction of $158,501.34. Following the completion of the transaction, the insider directly owned 1,998,489 shares in the company, valued at approximately $13,309,936.74. The trade was a 1.21% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders acquired a total of 113,264 shares of company stock worth $749,455 over the last quarter. Corporate insiders own 1.55% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Kovack Advisors Inc. boosted its stake in shares of TriplePoint Venture Growth BDC by 4.4% in the 3rd quarter. Kovack Advisors Inc. now owns 52,519 shares of the investment management company’s stock valued at $303,000 after purchasing an additional 2,200 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its stake in shares of TriplePoint Venture Growth BDC by 4.4% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 53,793 shares of the investment management company’s stock valued at $351,000 after purchasing an additional 2,278 shares during the last quarter. U.S. Capital Wealth Advisors LLC boosted its stake in shares of TriplePoint Venture Growth BDC by 6.4% in the 3rd quarter. U.S. Capital Wealth Advisors LLC now owns 42,980 shares of the investment management company’s stock valued at $248,000 after purchasing an additional 2,600 shares during the last quarter. Verition Fund Management LLC boosted its stake in shares of TriplePoint Venture Growth BDC by 14.1% in the 3rd quarter. Verition Fund Management LLC now owns 22,677 shares of the investment management company’s stock valued at $131,000 after purchasing an additional 2,800 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC boosted its position in shares of TriplePoint Venture Growth BDC by 13.8% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 24,152 shares of the investment management company’s stock worth $158,000 after purchasing an additional 2,921 shares during the last quarter. Institutional investors own 12.77% of the company’s stock.

TriplePoint Venture Growth BDC Company Profile

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.