TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) Receives $9.55 Consensus PT from Analysts

Shares of TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) have been assigned a consensus recommendation of “Reduce” from the five research firms that are covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell rating and three have given a hold rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $9.55.

A number of analysts recently weighed in on the stock. Wells Fargo & Company reiterated an “underweight” rating and issued a $8.50 price target (down from $9.50) on shares of TriplePoint Venture Growth BDC in a research report on Wednesday, May 29th. Compass Point raised shares of 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 report on Friday, March 22nd. JMP Securities restated a “market perform” rating on shares of TriplePoint Venture Growth BDC in a research report on Thursday, March 7th. Piper Sandler reduced their target price 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. Finally, Keefe, Bruyette & Woods restated an “underperform” rating and issued a $9.00 price target on shares of TriplePoint Venture Growth BDC in a report on Tuesday, June 18th.

TriplePoint Venture Growth BDC Stock Down 1.7 %

TPVG stock opened at $8.03 on Friday. TriplePoint Venture Growth BDC has a twelve month low of $7.91 and a twelve month high of $12.70. The company has a market cap of $303.94 million, a P/E ratio of -7.23 and a beta of 1.78. The business’s fifty day moving average is $9.15 and its 200-day moving average is $9.95.

TriplePoint Venture Growth BDC (NYSE:TPVG) last released its earnings results on Wednesday, May 1st. The investment management company reported $0.41 earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $29.27 million during the quarter, compared to analyst estimates of $31.25 million. During the same period in the previous year, the company posted $0.53 EPS. Research analysts anticipate that TriplePoint Venture Growth BDC will post 1.58 earnings per share for the current fiscal year.

TriplePoint Venture Growth BDC Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 19.93%. The ex-dividend date was Friday, June 14th. TriplePoint Venture Growth BDC’s payout ratio is presently -144.14%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Dfpg Investments LLC bought a new position in TriplePoint Venture Growth BDC in the fourth quarter valued at $116,000. Raymond James & Associates increased its position in shares of TriplePoint Venture Growth BDC by 13.7% in the fourth quarter. Raymond James & Associates now owns 32,689 shares of the investment management company’s stock valued at $355,000 after acquiring an additional 3,928 shares during the last quarter. Farmers & Merchants Investments Inc. raised its holdings in TriplePoint Venture Growth BDC by 94.3% during the fourth quarter. Farmers & Merchants Investments Inc. now owns 4,533 shares of the investment management company’s stock worth $49,000 after acquiring an additional 2,200 shares in the last quarter. International Assets Investment Management LLC raised its holdings in 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 acquiring an additional 1,156,701 shares in the last quarter. Finally, CWM LLC grew its stake in TriplePoint Venture Growth BDC by 127.5% in the fourth quarter. CWM LLC now owns 2,275 shares of the investment management company’s stock valued at $25,000 after purchasing an additional 1,275 shares in the last quarter. 12.77% of the stock is currently owned by 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.