Analysts Set TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) Price Target at $7.85

Shares of TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) have earned a consensus rating of “Reduce” from the six brokerages that are covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation and four have issued a hold recommendation on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $7.85.

A number of research firms have recently weighed in on TPVG. LADENBURG THALM/SH SH lowered TriplePoint Venture Growth BDC from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $8.50 to $8.00 in a research note on Friday, August 9th. Keefe, Bruyette & Woods dropped their price objective on TriplePoint Venture Growth BDC from $9.00 to $8.00 and set an “underperform” rating for the company in a research note on Friday, August 9th. Piper Sandler dropped their price objective on TriplePoint Venture Growth BDC from $9.50 to $8.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Finally, Wells Fargo & Company dropped their price objective on TriplePoint Venture Growth BDC from $8.00 to $6.50 and set an “underweight” rating for the company in a research note on Tuesday, October 29th.

Insider Activity at TriplePoint Venture Growth BDC

In other TriplePoint Venture Growth BDC news, President Sajal Srivastava bought 11,298 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The stock was bought at an average price of $7.02 per share, for a total transaction of $79,311.96. Following the completion of the acquisition, the president now directly owns 250,858 shares in the company, valued at $1,761,023.16. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.01% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On TriplePoint Venture Growth BDC

A number of institutional investors have recently added to or reduced their stakes in the company. Diversify Wealth Management LLC bought a new position in TriplePoint Venture Growth BDC in the third quarter worth $82,000. Diversify Advisory Services LLC raised its holdings in TriplePoint Venture Growth BDC by 31.2% in the third quarter. Diversify Advisory Services LLC now owns 14,191 shares of the investment management company’s stock worth $94,000 after purchasing an additional 3,378 shares in the last quarter. International Assets Investment Management LLC increased its holdings in shares of TriplePoint Venture Growth BDC by 435.6% during the third quarter. International Assets Investment Management LLC now owns 107,630 shares of the investment management company’s stock valued at $760,000 after acquiring an additional 87,535 shares in the last quarter. Quarry LP bought a new position in shares of TriplePoint Venture Growth BDC during the second quarter valued at $35,000. Finally, Millennium Management LLC increased its holdings in shares of TriplePoint Venture Growth BDC by 169.5% during the second quarter. Millennium Management LLC now owns 432,206 shares of the investment management company’s stock valued at $3,471,000 after acquiring an additional 271,824 shares in the last quarter. Institutional investors own 12.77% of the company’s stock.

TriplePoint Venture Growth BDC Price Performance

Shares of TPVG opened at $6.58 on Thursday. The firm has a market cap of $262.87 million, a P/E ratio of -21.93 and a beta of 1.80. The stock has a 50 day simple moving average of $7.04 and a two-hundred day simple moving average of $8.12. TriplePoint Venture Growth BDC has a 1 year low of $6.52 and a 1 year high of $11.58.

TriplePoint Venture Growth BDC (NYSE:TPVG) last issued its earnings results on Wednesday, August 7th. The investment management company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.10). The firm had revenue of $27.11 million during the quarter, compared to analysts’ expectations of $28.77 million. TriplePoint Venture Growth BDC had a positive return on equity of 18.24% and a negative net margin of 8.03%. During the same period in the prior year, the company earned $0.53 EPS. On average, equities analysts anticipate 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 announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were issued a dividend of $0.30 per share. The ex-dividend date was Monday, September 16th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 18.24%. TriplePoint Venture Growth BDC’s dividend payout ratio is presently -399.99%.

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.