Analysts Set TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) PT at $7.70

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) has been assigned a consensus recommendation of “Hold” from the six brokerages that are presently covering the stock, Marketbeat.com reports. Six analysts have rated the stock with a hold rating. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $7.70.

Several research firms have commented on TPVG. Piper Sandler decreased their price target on shares of TriplePoint Venture Growth BDC from $8.00 to $7.50 and set a “neutral” rating for the company in a research report on Thursday, November 7th. StockNews.com upgraded shares of TriplePoint Venture Growth BDC from a “sell” rating to a “hold” rating in a research note on Friday, November 15th. Compass Point lifted their price target on shares of TriplePoint Venture Growth BDC from $7.50 to $8.00 and gave the stock a “neutral” rating in a report on Thursday, December 5th. Wells Fargo & Company increased their price objective on TriplePoint Venture Growth BDC from $6.50 to $7.50 and gave the company an “equal weight” rating in a report on Tuesday, November 19th. Finally, Keefe, Bruyette & Woods upgraded TriplePoint Venture Growth BDC from an “underperform” rating to a “market perform” rating and dropped their target price for the stock from $8.00 to $7.50 in a research note on Thursday, November 7th.

Institutional Trading of TriplePoint Venture Growth BDC

Several large investors have recently made changes to their positions in the business. Commonwealth Equity Services LLC grew its holdings in TriplePoint Venture Growth BDC by 4.5% during the second quarter. Commonwealth Equity Services LLC now owns 31,132 shares of the investment management company’s stock worth $250,000 after acquiring an additional 1,346 shares during the period. Kovack Advisors Inc. grew its stake in shares of TriplePoint Venture Growth BDC by 7.8% during the 3rd quarter. Kovack Advisors Inc. now owns 37,100 shares of the investment management company’s stock worth $262,000 after purchasing an additional 2,700 shares during the period. Diversify Advisory Services LLC increased its holdings in shares of 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 valued at $94,000 after purchasing an additional 3,378 shares in the last quarter. Norden Group LLC increased its holdings in shares of TriplePoint Venture Growth BDC by 21.4% during the 2nd quarter. Norden Group LLC now owns 21,678 shares of the investment management company’s stock valued at $174,000 after purchasing an additional 3,818 shares in the last quarter. Finally, Quarry LP purchased a new stake in TriplePoint Venture Growth BDC during the second quarter worth $35,000. 12.77% of the stock is owned by hedge funds and other institutional investors.

TriplePoint Venture Growth BDC Stock Performance

NYSE TPVG opened at $7.34 on Friday. The company has a market cap of $293.96 million, a PE ratio of 34.95 and a beta of 1.86. TriplePoint Venture Growth BDC has a 52-week low of $6.44 and a 52-week high of $11.58. The firm’s 50 day moving average price is $7.49 and its 200-day moving average price is $7.73.

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

TriplePoint Venture Growth BDC Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.20 annualized dividend and a yield of 16.35%. TriplePoint Venture Growth BDC’s payout ratio is presently 571.43%.

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.