TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) Given Average Rating of “Reduce” by Analysts

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) has earned a consensus recommendation of “Reduce” from the five ratings firms that are presently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation and three have assigned a hold recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $9.55.

Several equities analysts recently weighed in on the company. StockNews.com lowered TriplePoint Venture Growth BDC from a “hold” rating to a “sell” rating in a research note on Thursday, March 7th. Wells Fargo & Company restated an “underweight” rating and issued a $8.50 price target (down previously from $9.50) on shares of TriplePoint Venture Growth BDC in a research note on Wednesday, May 29th. Compass Point upgraded TriplePoint Venture Growth BDC from a “sell” rating to a “neutral” rating and set a $8.75 price target for the company in a research note on Friday, March 22nd. Keefe, Bruyette & Woods restated an “underperform” rating and issued a $9.00 price target on shares of TriplePoint Venture Growth BDC in a research note on Tuesday, June 18th. Finally, Piper Sandler cut their price objective on TriplePoint Venture Growth BDC from $11.00 to $10.00 and set a “neutral” rating for the company in a research note on Thursday, March 7th.

TriplePoint Venture Growth BDC Stock Up 2.6 %

Shares of TPVG stock opened at $8.18 on Friday. The stock has a market cap of $309.42 million, a PE ratio of -7.36 and a beta of 1.78. The business has a 50-day simple moving average of $9.17 and a 200-day simple moving average of $9.98. TriplePoint Venture Growth BDC has a 52-week low of $7.91 and a 52-week high of $12.70.

TriplePoint Venture Growth BDC (NYSE:TPVG) last issued its quarterly earnings data on Wednesday, May 1st. The investment management company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.03). The company had revenue of $29.27 million during the quarter, compared to analyst estimates of $31.25 million. TriplePoint Venture Growth BDC had a negative net margin of 29.68% and a positive return on equity of 19.64%. During the same period last year, the firm earned $0.53 EPS. Sell-side analysts anticipate that TriplePoint Venture Growth BDC will post 1.58 earnings per share for the current fiscal year.

TriplePoint Venture Growth BDC Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be given a $0.40 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 19.57%. TriplePoint Venture Growth BDC’s dividend payout ratio (DPR) is presently -144.14%.

Institutional Investors Weigh In On TriplePoint Venture Growth BDC

Large investors have recently made changes to their positions in the stock. CWM LLC grew its position in shares of TriplePoint Venture Growth BDC by 127.5% in the fourth quarter. CWM LLC now owns 2,275 shares of the investment management company’s stock valued at $25,000 after purchasing an additional 1,275 shares in the last quarter. Quarry LP grew its position in shares of TriplePoint Venture Growth BDC by 43.7% in the fourth quarter. Quarry LP now owns 3,143 shares of the investment management company’s stock valued at $34,000 after purchasing an additional 956 shares in the last quarter. Farmers & Merchants Investments Inc. grew its position in shares of TriplePoint Venture Growth BDC by 94.3% in the fourth quarter. Farmers & Merchants Investments Inc. now owns 4,533 shares of the investment management company’s stock valued at $49,000 after purchasing an additional 2,200 shares in the last quarter. Cape Investment Advisory Inc. purchased a new stake in shares of TriplePoint Venture Growth BDC in the fourth quarter valued at approximately $79,000. Finally, Hartline Investment Corp purchased a new stake in shares of TriplePoint Venture Growth BDC in the first quarter valued at approximately $98,000. 12.77% of the stock is currently owned by hedge funds and other institutional investors.

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.