TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) Receives $7.85 Consensus Price Target from Brokerages

Shares of TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) have been assigned an average recommendation of “Hold” from the six ratings firms that are currently covering the company, MarketBeat reports. Six equities research analysts have rated the stock with a hold recommendation. The average twelve-month target price among brokers that have covered the stock in the last year is $7.85.

A number of research analysts have commented on the company. StockNews.com upgraded TriplePoint Venture Growth BDC from a “sell” rating to a “hold” rating in a research note on Friday, November 15th. Piper Sandler decreased their target price on TriplePoint Venture Growth BDC from $8.00 to $7.50 and set a “neutral” rating on the stock in a research note on Thursday, November 7th. Wells Fargo & Company lifted their target price on TriplePoint Venture Growth BDC from $6.50 to $7.50 and gave the company an “equal weight” rating in a research report on Tuesday, November 19th. Keefe, Bruyette & Woods upgraded shares of TriplePoint Venture Growth BDC from an “underperform” rating to a “market perform” rating and cut their price target for the stock from $8.00 to $7.50 in a research note on Thursday, November 7th. Finally, LADENBURG THALM/SH SH lowered shares of TriplePoint Venture Growth BDC from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $8.50 to $8.00 in a research note on Friday, August 9th.

Hedge Funds Weigh In On TriplePoint Venture Growth BDC

A number of institutional investors have recently modified their holdings of TPVG. Millennium Management LLC raised its holdings in shares of TriplePoint Venture Growth BDC by 169.5% in the 2nd quarter. Millennium Management LLC now owns 432,206 shares of the investment management company’s stock worth $3,471,000 after purchasing an additional 271,824 shares during the period. Marshall Wace LLP purchased a new position in TriplePoint Venture Growth BDC in the second quarter valued at approximately $1,486,000. Van ECK Associates Corp lifted its position in TriplePoint Venture Growth BDC by 16.4% during the second quarter. Van ECK Associates Corp now owns 846,716 shares of the investment management company’s stock valued at $6,799,000 after buying an additional 119,184 shares in the last quarter. Jane Street Group LLC lifted its position in TriplePoint Venture Growth BDC by 712.4% during the third quarter. Jane Street Group LLC now owns 104,997 shares of the investment management company’s stock valued at $741,000 after buying an additional 92,072 shares in the last quarter. Finally, International Assets Investment Management LLC grew its stake in 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 worth $760,000 after buying an additional 87,535 shares during the period. Institutional investors and hedge funds own 12.77% of the company’s stock.

TriplePoint Venture Growth BDC Stock Up 0.4 %

Shares of NYSE:TPVG opened at $8.19 on Monday. TriplePoint Venture Growth BDC has a 52-week low of $6.44 and a 52-week high of $11.58. The stock has a market cap of $328.01 million, a P/E ratio of 39.00 and a beta of 1.80. The business has a fifty day moving average of $7.15 and a two-hundred day moving average of $7.92.

TriplePoint Venture Growth BDC (NYSE:TPVG) last issued its quarterly earnings data on Wednesday, November 6th. The investment management company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.01. TriplePoint Venture Growth BDC had a return on equity of 16.86% and a net margin of 9.01%. The company had revenue of $26.52 million during the quarter, compared to analyst estimates of $25.65 million. During the same period in the prior year, the business posted $0.54 earnings per share. 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 Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be given a $0.30 dividend. The ex-dividend date is Friday, December 13th. This represents a $1.20 annualized dividend and a dividend yield of 14.65%. TriplePoint Venture Growth BDC’s dividend payout ratio is presently 571.46%.

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.