Brokerages Set TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) Target Price at $7.85

Shares of TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) have been given a consensus recommendation of “Reduce” by the six research firms that are presently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating and four have given a hold rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $7.85.

Several analysts recently commented on the company. LADENBURG THALM/SH SH cut TriplePoint Venture Growth BDC from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $8.50 to $8.00 in a research report on Friday, August 9th. Piper Sandler lowered their price objective on TriplePoint Venture Growth BDC from $9.50 to $8.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Keefe, Bruyette & Woods lowered their price objective on TriplePoint Venture Growth BDC from $9.00 to $8.00 and set an “underperform” rating on the stock in a research note on Friday, August 9th. Finally, Wells Fargo & Company lowered their price objective on TriplePoint Venture Growth BDC from $8.00 to $6.50 and set an “underweight” rating on the stock in a research note on Tuesday, October 29th.

Insider Activity

In other TriplePoint Venture Growth BDC news, President Sajal Srivastava purchased 11,298 shares of the firm’s stock in a transaction dated Monday, August 12th. The shares were acquired at an average price of $7.02 per share, with a total value of $79,311.96. Following the purchase, the president now directly owns 250,858 shares in the company, valued at approximately $1,761,023.16. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.01% of the company’s stock.

Hedge Funds Weigh In On TriplePoint Venture Growth BDC

Hedge funds have recently bought and sold shares of the company. Commonwealth Equity Services LLC increased its holdings in TriplePoint Venture Growth BDC by 4.5% during the 2nd quarter. Commonwealth Equity Services LLC now owns 31,132 shares of the investment management company’s stock worth $250,000 after purchasing an additional 1,346 shares during the period. Norden Group LLC increased its holdings in TriplePoint Venture Growth BDC by 20.0% during the 1st quarter. Norden Group LLC now owns 17,860 shares of the investment management company’s stock worth $169,000 after purchasing an additional 2,972 shares during the period. U.S. Capital Wealth Advisors LLC increased its holdings in TriplePoint Venture Growth BDC by 19.4% during the 2nd quarter. U.S. Capital Wealth Advisors LLC now owns 19,064 shares of the investment management company’s stock worth $153,000 after purchasing an additional 3,100 shares during the period. Diversify Advisory Services LLC increased its holdings in TriplePoint Venture Growth BDC by 31.2% during the 3rd quarter. Diversify Advisory Services LLC now owns 14,191 shares of the investment management company’s stock worth $94,000 after purchasing an additional 3,378 shares during the period. Finally, Quarry LP purchased a new stake in TriplePoint Venture Growth BDC during the 2nd quarter worth about $35,000. Institutional investors and hedge funds own 12.77% of the company’s stock.

TriplePoint Venture Growth BDC Price Performance

TriplePoint Venture Growth BDC stock opened at $6.50 on Thursday. The stock has a market capitalization of $259.69 million, a PE ratio of -21.67 and a beta of 1.80. TriplePoint Venture Growth BDC has a 12 month low of $6.50 and a 12 month high of $11.58. The business has a 50 day simple moving average of $7.02 and a 200-day simple moving average of $8.10.

TriplePoint Venture Growth BDC (NYSE:TPVG) last issued its quarterly earnings results on Wednesday, August 7th. The investment management company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.10). TriplePoint Venture Growth BDC had a positive return on equity of 18.24% and a negative net margin of 8.03%. The firm had revenue of $27.11 million for the quarter, compared to analysts’ expectations of $28.77 million. During the same quarter in the previous year, the firm posted $0.53 earnings per share. On average, equities research analysts anticipate 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 declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 18.46%. The ex-dividend date was Monday, September 16th. TriplePoint Venture Growth BDC’s dividend payout ratio (DPR) is presently -400.00%.

About TriplePoint Venture Growth BDC

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.