TriplePoint Venture Growth BDC (NYSE:TPVG) Upgraded to Hold at StockNews.com

StockNews.com upgraded shares of TriplePoint Venture Growth BDC (NYSE:TPVG) from a sell rating to a hold rating in a report released on Friday.

Several other research firms have also issued reports on TPVG. Piper Sandler dropped their price objective on 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. Wells Fargo & Company dropped their target price on shares of TriplePoint Venture Growth BDC from $8.00 to $6.50 and set an “underweight” rating for the company in a research report on Tuesday, October 29th. LADENBURG THALM/SH SH lowered shares of TriplePoint Venture Growth BDC from a “buy” rating to a “neutral” rating and reduced their price target for the company from $8.50 to $8.00 in a research report on Friday, August 9th. Finally, Keefe, Bruyette & Woods raised shares of TriplePoint Venture Growth BDC from an “underperform” rating to a “market perform” rating and dropped their price objective for the stock from $8.00 to $7.50 in a report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $7.65.

TriplePoint Venture Growth BDC Trading Up 0.1 %

Shares of NYSE TPVG opened at $7.90 on Friday. TriplePoint Venture Growth BDC has a one year low of $6.44 and a one year high of $11.58. The business has a fifty day simple moving average of $7.04 and a 200 day simple moving average of $7.99. The firm has a market capitalization of $316.40 million, a price-to-earnings ratio of 37.62 and a beta of 1.80.

TriplePoint Venture Growth BDC (NYSE:TPVG) last released its quarterly earnings data on Wednesday, November 6th. The investment management company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. TriplePoint Venture Growth BDC had a net margin of 9.01% and a return on equity of 16.86%. The company had revenue of $26.52 million during the quarter, compared to the consensus estimate of $25.65 million. During the same period last year, the firm earned $0.54 EPS. On average, research analysts anticipate that TriplePoint Venture Growth BDC will post 1.4 earnings per share for the current fiscal year.

TriplePoint Venture Growth BDC Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 15.19%. The ex-dividend date is Friday, December 13th. TriplePoint Venture Growth BDC’s dividend payout ratio is currently 571.46%.

Hedge Funds Weigh In On TriplePoint Venture Growth BDC

A number of institutional investors have recently modified their holdings of the stock. Quarry LP acquired a new stake in shares of TriplePoint Venture Growth BDC in the second quarter valued at approximately $35,000. EverSource Wealth Advisors LLC bought a new position in TriplePoint Venture Growth BDC in the 2nd quarter valued at $62,000. Diversify Wealth Management LLC acquired a new stake in shares of TriplePoint Venture Growth BDC in the 3rd quarter valued at $82,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of TriplePoint Venture Growth BDC during the third quarter worth $83,000. Finally, BNP Paribas Financial Markets raised its position in shares of TriplePoint Venture Growth BDC by 214.3% during the third quarter. BNP Paribas Financial Markets now owns 13,200 shares of the investment management company’s stock worth $93,000 after acquiring an additional 9,000 shares during the last quarter. 12.77% of the stock is 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.