Analysts Set TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) PT at $7.70

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) has been given an average recommendation of “Hold” by the six brokerages that are covering the company, MarketBeat.com reports. Six equities research analysts have rated the stock with a hold rating. The average 12 month price objective among brokers that have covered the stock in the last year is $7.70.

A number of research analysts have recently issued reports on TPVG shares. Wells Fargo & Company upped their price target on TriplePoint Venture Growth BDC from $6.50 to $7.50 and gave the company an “equal weight” rating in a report on Tuesday, November 19th. StockNews.com raised shares of TriplePoint Venture Growth BDC from a “sell” rating to a “hold” rating in a report on Friday, November 15th. Compass Point upped their price target on TriplePoint Venture Growth BDC from $7.50 to $8.00 and gave the stock a “neutral” rating in a research report on Thursday, December 5th. Piper Sandler lowered their target price on shares of 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. Finally, Keefe, Bruyette & Woods upgraded TriplePoint Venture Growth BDC from an “underperform” rating to a “market perform” rating and cut their target price for the stock from $8.00 to $7.50 in a research report on Thursday, November 7th.

Institutional Trading of TriplePoint Venture Growth BDC

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Van ECK Associates Corp increased its holdings in shares of TriplePoint Venture Growth BDC by 16.4% in the 2nd quarter. Van ECK Associates Corp now owns 846,716 shares of the investment management company’s stock valued at $6,799,000 after acquiring an additional 119,184 shares during the period. Millennium Management LLC increased its holdings in 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 buying an additional 271,824 shares during the period. Marshall Wace LLP purchased a new position in shares of TriplePoint Venture Growth BDC during the second quarter worth $1,486,000. International Assets Investment Management LLC lifted its holdings in shares of TriplePoint Venture Growth BDC by 435.6% in the 3rd quarter. International Assets Investment Management LLC now owns 107,630 shares of the investment management company’s stock valued at $760,000 after buying an additional 87,535 shares during the period. Finally, Jane Street Group LLC lifted its holdings in TriplePoint Venture Growth BDC by 712.4% in the third quarter. Jane Street Group LLC now owns 104,997 shares of the investment management company’s stock valued at $741,000 after acquiring an additional 92,072 shares during the period. Hedge funds and other institutional investors own 12.77% of the company’s stock.

TriplePoint Venture Growth BDC Stock Performance

NYSE:TPVG opened at $7.22 on Friday. The firm has a market cap of $289.15 million, a P/E ratio of 34.38 and a beta of 1.87. TriplePoint Venture Growth BDC has a fifty-two week low of $6.44 and a fifty-two week high of $11.58. The firm has a 50-day simple moving average of $7.49 and a two-hundred day simple moving average of $7.74.

TriplePoint Venture Growth BDC (NYSE:TPVG) last announced its quarterly earnings data on Wednesday, November 6th. The investment management company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. The company had revenue of $26.52 million during the quarter, compared to analyst estimates of $25.65 million. TriplePoint Venture Growth BDC had a net margin of 9.01% and a return on equity of 16.86%. During the same period in the previous year, the business earned $0.54 EPS. On average, equities research analysts predict that TriplePoint Venture Growth BDC will post 1.4 EPS for the current year.

TriplePoint Venture Growth BDC Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 16.62%. TriplePoint Venture Growth BDC’s dividend payout ratio is presently 571.43%.

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.