TriplePoint Venture Growth BDC’s (TPVG) Underperform Rating Reiterated at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods reiterated their underperform rating on shares of TriplePoint Venture Growth BDC (NYSE:TPVG) in a research note published on Tuesday morning, Benzinga reports. Keefe, Bruyette & Woods currently has a $9.00 price objective on the investment management company’s stock.

TPVG has been the topic of a number of other reports. Wells Fargo & Company restated an underweight rating and issued a $8.50 price target (down from $9.50) on shares of TriplePoint Venture Growth BDC in a research note on Wednesday, May 29th. Compass Point upgraded TriplePoint Venture Growth BDC from a sell rating to a neutral rating and set a $8.75 price target on the stock in a research note on Friday, March 22nd. Piper Sandler dropped their price objective on TriplePoint Venture Growth BDC from $11.00 to $10.00 and set a neutral rating on the stock in a report on Thursday, March 7th. StockNews.com lowered TriplePoint Venture Growth BDC from a hold rating to a sell rating in a report on Thursday, March 7th. Finally, JMP Securities reaffirmed a market perform rating on shares of TriplePoint Venture Growth BDC in a report on Thursday, March 7th. Three equities research analysts have rated the stock with a sell rating and three have given a hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of Hold and a consensus target price of $9.55.

TriplePoint Venture Growth BDC Price Performance

TriplePoint Venture Growth BDC stock opened at $8.82 on Tuesday. TriplePoint Venture Growth BDC has a 1-year low of $8.58 and a 1-year high of $12.70. The stock has a market cap of $333.84 million, a PE ratio of -7.95 and a beta of 1.79. The stock’s fifty day moving average is $9.29 and its two-hundred day moving average is $10.09.

TriplePoint Venture Growth BDC (NYSE:TPVG) last posted its quarterly earnings results on Wednesday, May 1st. The investment management company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.03). TriplePoint Venture Growth BDC had a negative net margin of 29.68% and a positive return on equity of 19.64%. The business had revenue of $29.27 million during the quarter, compared to analyst estimates of $31.25 million. During the same quarter in the prior year, the business earned $0.53 earnings per share. On average, research analysts expect that TriplePoint Venture Growth BDC will post 1.58 earnings per share for the current fiscal year.

TriplePoint Venture Growth BDC Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 18.14%. The ex-dividend date of this dividend is Friday, June 14th. TriplePoint Venture Growth BDC’s dividend payout ratio is currently -144.14%.

Hedge Funds Weigh In On TriplePoint Venture Growth BDC

A number of hedge funds and other institutional investors have recently made changes to their positions in TPVG. International Assets Investment Management LLC grew its holdings in shares of TriplePoint Venture Growth BDC by 1,066.7% during the fourth quarter. International Assets Investment Management LLC now owns 1,265,136 shares of the investment management company’s stock worth $13,739,000 after buying an additional 1,156,701 shares during the last quarter. Norden Group LLC grew its holdings in shares of TriplePoint Venture Growth BDC by 739.7% during the first quarter. Norden Group LLC now owns 125,020 shares of the investment management company’s stock worth $1,185,000 after buying an additional 110,132 shares during the last quarter. Van ECK Associates Corp grew its holdings in shares of TriplePoint Venture Growth BDC by 12.6% during the fourth quarter. Van ECK Associates Corp now owns 661,530 shares of the investment management company’s stock worth $7,185,000 after buying an additional 73,924 shares during the last quarter. Quadrature Capital Ltd purchased a new position in shares of TriplePoint Venture Growth BDC during the fourth quarter worth about $655,000. Finally, Paloma Partners Management Co purchased a new position in shares of TriplePoint Venture Growth BDC during the first quarter worth about $184,000. Hedge funds and other institutional investors 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.