TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) Given Consensus Recommendation of “Reduce” by Analysts

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) has been given a consensus recommendation of “Reduce” by the six brokerages that are covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $8.25.

Several research firms recently commented on TPVG. Keefe, Bruyette & Woods reduced their target price on shares of TriplePoint Venture Growth BDC from $9.00 to $8.00 and set an “underperform” rating on the stock in a report on Friday, August 9th. 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. Finally, Piper Sandler lowered their price objective on TriplePoint Venture Growth BDC from $9.50 to $8.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th.

Insider Buying and Selling

In related news, President Sajal Srivastava bought 11,298 shares of the company’s stock in a transaction on Monday, August 12th. The shares were acquired at an average cost of $7.02 per share, with a total value of $79,311.96. Following the completion of the acquisition, the president now owns 250,858 shares of the company’s stock, valued at $1,761,023.16. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.01% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On TriplePoint Venture Growth BDC

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Van ECK Associates Corp lifted its position in TriplePoint Venture Growth BDC by 16.4% during the second quarter. Van ECK Associates Corp now owns 846,716 shares of the investment management company’s stock valued at $6,799,000 after purchasing an additional 119,184 shares during the period. Millennium Management LLC lifted its holdings in TriplePoint Venture Growth BDC by 169.5% in the second quarter. Millennium Management LLC now owns 432,206 shares of the investment management company’s stock valued at $3,471,000 after acquiring an additional 271,824 shares during the period. Marshall Wace LLP purchased a new position in TriplePoint Venture Growth BDC in the second quarter worth about $1,486,000. Norden Group LLC increased its holdings in 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 valued at $1,185,000 after buying an additional 110,132 shares during the last quarter. Finally, Quadrature Capital Ltd purchased a new position in shares of TriplePoint Venture Growth BDC during the 4th quarter worth $655,000. 12.77% of the stock is owned by institutional investors.

TriplePoint Venture Growth BDC Price Performance

TPVG stock opened at $6.65 on Friday. The firm has a 50 day simple moving average of $7.31 and a two-hundred day simple moving average of $8.41. The stock has a market cap of $265.47 million, a PE ratio of -5.99 and a beta of 1.79. TriplePoint Venture Growth BDC has a one year low of $6.60 and a one year high of $11.58.

TriplePoint Venture Growth BDC (NYSE:TPVG) last posted its quarterly earnings data on Wednesday, August 7th. The investment management company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.10). The firm had revenue of $27.11 million during the quarter, compared to analysts’ expectations of $28.77 million. TriplePoint Venture Growth BDC had a positive return on equity of 18.24% and a negative net margin of 8.03%. During the same quarter in the previous year, the company posted $0.53 earnings per share. On average, research analysts expect that TriplePoint Venture Growth BDC will post 1.4 EPS for the current fiscal year.

TriplePoint Venture Growth BDC Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 18.06%. The ex-dividend date of this dividend was Monday, September 16th. TriplePoint Venture Growth BDC’s dividend payout ratio is -108.11%.

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.