TriplePoint Venture Growth BDC (NYSE:TPVG) Price Target Raised to $7.50

TriplePoint Venture Growth BDC (NYSE:TPVG) had its price objective upped by Wells Fargo & Company from $6.50 to $7.50 in a research report report published on Tuesday morning, MarketBeat reports. They currently have an equal weight rating on the investment management company’s stock.

TPVG has been the subject of several other research reports. Piper Sandler dropped 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 note on Thursday, November 7th. Keefe, Bruyette & Woods upgraded TriplePoint Venture Growth BDC from an “underperform” rating to a “market perform” rating and lowered their target price for the stock from $8.00 to $7.50 in a report on Thursday, November 7th. StockNews.com raised TriplePoint Venture Growth BDC from a “sell” rating to a “hold” rating in a report on Friday, November 15th. Finally, LADENBURG THALM/SH SH cut TriplePoint Venture Growth BDC from a “buy” rating to a “neutral” rating and dropped their target price for the company from $8.50 to $8.00 in a report on Friday, August 9th. Seven research analysts have rated the stock with a hold rating, According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $7.85.

TriplePoint Venture Growth BDC Trading Up 1.4 %

NYSE:TPVG opened at $8.15 on Tuesday. The stock has a 50 day moving average of $7.07 and a two-hundred day moving average of $7.96. TriplePoint Venture Growth BDC has a 12 month low of $6.44 and a 12 month high of $11.58. The firm has a market cap of $326.40 million, a P/E ratio of 38.95 and a beta of 1.80.

TriplePoint Venture Growth BDC (NYSE:TPVG) last posted its quarterly earnings data on Wednesday, November 6th. The investment management company reported $0.35 EPS for the quarter, beating 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 firm had revenue of $26.52 million during the quarter, compared to the consensus estimate of $25.65 million. During the same period in the prior year, the company earned $0.54 EPS. On average, research analysts forecast 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 announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be given a $0.30 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.20 dividend on an annualized basis and a yield of 14.72%. TriplePoint Venture Growth BDC’s dividend payout ratio is currently 571.43%.

Hedge Funds Weigh In On TriplePoint Venture Growth BDC

A number of hedge funds have recently modified their holdings of the business. Quarry LP purchased a new stake in TriplePoint Venture Growth BDC in the 2nd quarter valued at about $35,000. EverSource Wealth Advisors LLC acquired a new stake in shares of TriplePoint Venture Growth BDC during the second quarter valued at about $62,000. McIlrath & Eck LLC purchased a new stake in shares of TriplePoint Venture Growth BDC in the 3rd quarter valued at approximately $51,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of TriplePoint Venture Growth BDC in the 3rd quarter worth approximately $83,000. Finally, Diversify Wealth Management LLC purchased a new position in shares of TriplePoint Venture Growth BDC during the 3rd quarter worth approximately $82,000. 12.77% of the stock is currently owned by hedge funds and other institutional investors.

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.