Brokerages Set TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) Target Price at $7.70

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) has earned a consensus recommendation of “Hold” from the six analysts that are presently covering the company, Marketbeat.com reports. Six research analysts have rated the stock with a hold recommendation. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $7.70.

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

TriplePoint Venture Growth BDC Price Performance

TriplePoint Venture Growth BDC stock opened at $7.73 on Tuesday. The firm has a market cap of $309.55 million, a price-to-earnings ratio of 36.81 and a beta of 1.88. 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 fifty day moving average price of $7.76 and a two-hundred day moving average price of $7.59.

TriplePoint Venture Growth BDC (NYSE:TPVG) last released its earnings results 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 firm 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 quarter in the previous year, the business earned $0.54 EPS. As a group, sell-side analysts expect that TriplePoint Venture Growth BDC will post 1.4 earnings per share for the current year.

TriplePoint Venture Growth BDC Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 15.53%. The ex-dividend date was Friday, December 13th. TriplePoint Venture Growth BDC’s dividend payout ratio (DPR) is presently 571.46%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Diversify Wealth Management LLC raised its position in TriplePoint Venture Growth BDC by 53.4% in the fourth quarter. Diversify Wealth Management LLC now owns 18,830 shares of the investment management company’s stock worth $142,000 after purchasing an additional 6,553 shares in the last quarter. McIlrath & Eck LLC bought a new stake in TriplePoint Venture Growth BDC during the third quarter worth about $51,000. Y Intercept Hong Kong Ltd bought a new stake in TriplePoint Venture Growth BDC during the third quarter worth about $307,000. XTX Topco Ltd bought a new stake in TriplePoint Venture Growth BDC during the third quarter worth about $118,000. Finally, Jane Street Group LLC grew its stake 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 worth $741,000 after buying an additional 92,072 shares during the last quarter. Institutional investors and hedge funds own 12.77% of the company’s stock.

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.