TriplePoint Venture Growth BDC (NYSE:TPVG) Lowered to “Underweight” Rating by Wells Fargo & Company

Wells Fargo & Company downgraded shares of TriplePoint Venture Growth BDC (NYSE:TPVG) from an equal weight rating to an underweight rating in a report released on Monday, MarketBeat Ratings reports. The firm currently has $6.50 target price on the investment management company’s stock, down from their previous target price of $7.50.

Several other equities analysts have also commented on the company. Piper Sandler boosted 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, March 6th. Compass Point boosted 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. One analyst has rated the stock with a sell rating and five have issued a hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $7.60.

TriplePoint Venture Growth BDC Stock Down 4.1 %

Shares of TPVG stock opened at $7.08 on Monday. TriplePoint Venture Growth BDC has a fifty-two week low of $6.44 and a fifty-two week high of $9.73. The stock has a market cap of $283.97 million, a P/E ratio of 33.69 and a beta of 1.90. The business has a fifty day simple moving average of $7.75 and a 200-day simple moving average of $7.50.

TriplePoint Venture Growth BDC (NYSE:TPVG) last posted its quarterly earnings data on Wednesday, March 5th. The investment management company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). The company had revenue of $25.75 million for the quarter, compared to analysts’ expectations of $26.68 million. TriplePoint Venture Growth BDC had a return on equity of 16.86% and a net margin of 9.01%. On average, sell-side analysts anticipate that TriplePoint Venture Growth BDC will post 1.4 earnings per share for the current year.

TriplePoint Venture Growth BDC Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 16.96%. The ex-dividend date is Monday, March 17th. TriplePoint Venture Growth BDC’s dividend payout ratio is currently 146.34%.

Institutional Investors Weigh In On TriplePoint Venture Growth BDC

Several institutional investors and hedge funds have recently made changes to their positions in TPVG. Two Sigma Advisers LP increased its position in TriplePoint Venture Growth BDC by 6.5% in the fourth quarter. Two Sigma Advisers LP now owns 830,492 shares of the investment management company’s stock worth $6,129,000 after buying an additional 50,800 shares during the period. Two Sigma Investments LP increased its position in TriplePoint Venture Growth BDC by 21.9% in the fourth quarter. Two Sigma Investments LP now owns 678,034 shares of the investment management company’s stock worth $5,004,000 after buying an additional 122,039 shares during the period. Marshall Wace LLP increased its position in TriplePoint Venture Growth BDC by 12.7% in the fourth quarter. Marshall Wace LLP now owns 364,591 shares of the investment management company’s stock worth $2,691,000 after buying an additional 40,952 shares during the period. Legal & General Group Plc increased its position in TriplePoint Venture Growth BDC by 1.3% in the fourth quarter. Legal & General Group Plc now owns 264,486 shares of the investment management company’s stock worth $1,951,000 after buying an additional 3,418 shares during the period. Finally, Trexquant Investment LP grew its stake in shares of TriplePoint Venture Growth BDC by 35.5% in the fourth quarter. Trexquant Investment LP now owns 227,039 shares of the investment management company’s stock worth $1,676,000 after purchasing an additional 59,462 shares in the last quarter. 12.77% of the stock is owned by institutional investors and hedge funds.

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.