TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) Receives Average Rating of “Reduce” from Analysts

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) has received an average recommendation of “Reduce” from the five ratings firms that are presently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating and three have issued a hold rating on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $9.55.

Several analysts have recently issued reports on TPVG shares. Compass Point upgraded TriplePoint Venture Growth BDC from a “sell” rating to a “neutral” rating and set a $8.75 price objective on the stock in a research report on Friday, March 22nd. Wells Fargo & Company reiterated an “underweight” rating and set a $8.50 price target (down from $9.50) on shares of TriplePoint Venture Growth BDC in a report on Wednesday, May 29th. Piper Sandler reduced their price objective on shares of TriplePoint Venture Growth BDC from $11.00 to $10.00 and set a “neutral” rating on the stock in a research note on Thursday, March 7th. JMP Securities reaffirmed a “market perform” rating on shares of TriplePoint Venture Growth BDC in a research note on Thursday, March 7th. Finally, Keefe, Bruyette & Woods reaffirmed an “underperform” rating and issued a $9.00 target price on shares of TriplePoint Venture Growth BDC in a research note on Tuesday, June 18th.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. B. Riley Wealth Advisors Inc. raised its holdings in shares of TriplePoint Venture Growth BDC by 10.2% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 48,852 shares of the investment management company’s stock worth $511,000 after purchasing an additional 4,512 shares during the period. Paloma Partners Management Co purchased a new position in TriplePoint Venture Growth BDC in the first quarter valued at approximately $184,000. Diversify Advisory Services LLC acquired a new position in TriplePoint Venture Growth BDC during the first quarter valued at approximately $126,000. Hartline Investment Corp purchased a new stake in TriplePoint Venture Growth BDC during the first quarter worth approximately $98,000. Finally, Norden Group LLC increased its position in shares of TriplePoint Venture Growth BDC by 20.0% in the first quarter. Norden Group LLC now owns 17,860 shares of the investment management company’s stock worth $169,000 after acquiring an additional 2,972 shares in the last quarter. 12.77% of the stock is owned by hedge funds and other institutional investors.

TriplePoint Venture Growth BDC Stock Performance

Shares of TPVG opened at $8.05 on Friday. TriplePoint Venture Growth BDC has a 12-month low of $7.91 and a 12-month high of $12.70. The stock has a market cap of $304.66 million, a P/E ratio of -7.25 and a beta of 1.78. The company has a 50-day moving average of $9.03 and a two-hundred day moving average of $9.89.

TriplePoint Venture Growth BDC (NYSE:TPVG) last issued its quarterly earnings data on Wednesday, May 1st. The investment management company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.03). The business had revenue of $29.27 million for the quarter, compared to analysts’ expectations of $31.25 million. TriplePoint Venture Growth BDC had a positive return on equity of 19.64% and a negative net margin of 29.68%. During the same period last year, the business earned $0.53 earnings per share. As a group, analysts forecast that TriplePoint Venture Growth BDC will post 1.58 EPS for the current fiscal year.

TriplePoint Venture Growth BDC Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 19.88%. The ex-dividend date was Friday, June 14th. TriplePoint Venture Growth BDC’s dividend payout ratio is currently -144.14%.

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.