Zacks Investment Research lowered shares of Triplepoint Venture Growth BDC (NYSE:TPVG) from a buy rating to a hold rating in a research note issued to investors on Tuesday.
According to Zacks, “TriplePoint Venture Growth BDC Corp. is an externally managed, closed-end, non-diversified management investment company. The Company’s investment objective is to maximize its total return to stockholders primarily in the form of current income and, to a lesser extent, capital appreciation by primarily lending with warrants to venture growth stage companies focused in technology, life sciences and other high growth industries backed by a select group of leading venture capital investors. TriplePoint Venture Growth BDC Corp. is based in United States. “
Separately, ValuEngine downgraded shares of Triplepoint Venture Growth BDC from a hold rating to a sell rating in a research note on Friday, November 30th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of Hold and an average price target of $14.31.
Triplepoint Venture Growth BDC (NYSE:TPVG) last posted its quarterly earnings data on Wednesday, March 6th. The investment management company reported $0.41 EPS for the quarter, beating the Zacks’ consensus estimate of $0.35 by $0.06. Triplepoint Venture Growth BDC had a net margin of 56.56% and a return on equity of 12.21%. The company had revenue of $17.80 million during the quarter, compared to the consensus estimate of $16.01 million. Sell-side analysts forecast that Triplepoint Venture Growth BDC will post 1.59 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Wednesday, March 20th will be paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 10.68%. The ex-dividend date is Tuesday, March 19th. Triplepoint Venture Growth BDC’s dividend payout ratio is currently 84.21%.
In related news, President Sajal Srivastava acquired 7,034 shares of the company’s stock in a transaction dated Thursday, December 20th. The stock was bought at an average price of $10.43 per share, with a total value of $73,364.62. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 1.84% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of TPVG. Macquarie Group Ltd. acquired a new stake in Triplepoint Venture Growth BDC during the 4th quarter worth approximately $44,000. Great West Life Assurance Co. Can increased its position in Triplepoint Venture Growth BDC by 13.3% during the 4th quarter. Great West Life Assurance Co. Can now owns 6,856 shares of the investment management company’s stock worth $72,000 after purchasing an additional 806 shares in the last quarter. Wedbush Securities Inc. acquired a new stake in Triplepoint Venture Growth BDC during the 4th quarter worth approximately $120,000. Trexquant Investment LP acquired a new stake in Triplepoint Venture Growth BDC during the 3rd quarter worth approximately $384,000. Finally, Virtu Financial LLC acquired a new stake in Triplepoint Venture Growth BDC during the 3rd quarter worth approximately $391,000. 34.71% of the stock is owned by hedge funds and other institutional investors.
Triplepoint Venture Growth BDC Company Profile
TriplePoint Venture Growth BDC Corp is a business development company specializing investments in growth stage. It also provides debt financing to venture growth space companies which includes growth capital loans, equipment financings, revolving loans, and direct equity investments. The fund seeks to invest in e-commerce, entertainment, technology and life sciences sector.
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