TriplePoint Venture Growth BDC (NYSE:TPVG) Cut to “Strong Sell” at Zacks Research

Zacks Research lowered shares of TriplePoint Venture Growth BDC (NYSE:TPVG) from a hold rating to a strong sell rating in a report published on Thursday,Zacks.com reports.

A number of other equities research analysts have also weighed in on the stock. Keefe, Bruyette & Woods decreased their price objective on shares of TriplePoint Venture Growth BDC from $7.00 to $6.50 and set a “market perform” rating for the company in a report on Thursday, March 5th. Piper Sandler decreased their price objective on shares of TriplePoint Venture Growth BDC from $6.00 to $5.50 and set a “neutral” rating for the company in a report on Tuesday, April 7th. Weiss Ratings lowered shares of TriplePoint Venture Growth BDC from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, March 12th. Finally, Wells Fargo & Company decreased their price objective on shares of TriplePoint Venture Growth BDC from $5.50 to $5.00 and set an “underweight” rating for the company in a report on Thursday, March 5th. Three research analysts have rated the stock with a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus target price of $5.63.

TriplePoint Venture Growth BDC Price Performance

Shares of TPVG opened at $5.65 on Thursday. TriplePoint Venture Growth BDC has a 1-year low of $4.48 and a 1-year high of $7.53. The company has a 50-day moving average of $5.25 and a 200 day moving average of $5.81. The firm has a market capitalization of $228.57 million, a price-to-earnings ratio of 4.59 and a beta of 1.32.

TriplePoint Venture Growth BDC (NYSE:TPVG) last announced its quarterly earnings data on Wednesday, March 4th. The investment management company reported $0.25 earnings per share 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 company had revenue of $3.42 million for the quarter, compared to the consensus estimate of $23.78 million. On average, equities 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 declared a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th were issued a $0.23 dividend. The ex-dividend date was Tuesday, March 17th. This represents a $0.92 annualized dividend and a dividend yield of 16.3%. TriplePoint Venture Growth BDC’s payout ratio is currently 74.80%.

Institutional Investors Weigh In On TriplePoint Venture Growth BDC

Several large investors have recently modified their holdings of the business. Kovack Advisors Inc. raised its holdings 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 in the last quarter. CANADA LIFE ASSURANCE Co raised its holdings 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 in the last quarter. U.S. Capital Wealth Advisors LLC raised its holdings 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 in the last quarter. Verition Fund Management LLC raised its holdings 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 in the last quarter. Finally, O Shaughnessy Asset Management LLC raised its holdings 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 valued at $158,000 after purchasing an additional 2,921 shares in 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.