TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) Receives $8.25 Average Price Target from Analysts

Shares of TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) have earned an average recommendation of “Reduce” from the six research firms that are covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation and four have assigned a hold recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $8.25.

Several research firms have recently commented on TPVG. Piper Sandler lowered their price target 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. LADENBURG THALM/SH SH lowered TriplePoint Venture Growth BDC from a “buy” rating to a “neutral” rating and decreased their target price for the company from $8.50 to $8.00 in a report on Friday, August 9th. Wells Fargo & Company reiterated an “underweight” rating and issued a $8.50 target price (down from $9.50) on shares of TriplePoint Venture Growth BDC in a report on Wednesday, May 29th. Finally, Keefe, Bruyette & Woods decreased their target price on TriplePoint Venture Growth BDC from $9.00 to $8.00 and set an “underperform” rating for the company in a report on Friday, August 9th.

TriplePoint Venture Growth BDC Price Performance

TPVG opened at $7.56 on Wednesday. TriplePoint Venture Growth BDC has a 52 week low of $6.89 and a 52 week high of $11.58. The business has a fifty day simple moving average of $7.94 and a 200-day simple moving average of $8.77. The firm has a market cap of $302.02 million, a P/E ratio of -6.81 and a beta of 1.79.

TriplePoint Venture Growth BDC (NYSE:TPVG) last released 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 prior year, the business earned $0.53 earnings per share. Sell-side analysts expect that TriplePoint Venture Growth BDC will post 1.4 earnings per share for the current year.

TriplePoint Venture Growth BDC Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 15.87%. The ex-dividend date of this dividend is Monday, September 16th. TriplePoint Venture Growth BDC’s dividend payout ratio is presently -144.14%.

Insider Buying and Selling at TriplePoint Venture Growth BDC

In other news, President Sajal Srivastava bought 11,298 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were acquired at an average price of $7.02 per share, for a total transaction of $79,311.96. Following the completion of the transaction, the president now owns 250,858 shares of the company’s stock, valued at $1,761,023.16. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.01% of the stock is owned by insiders.

Institutional Trading of TriplePoint Venture Growth BDC

A number of hedge funds and other institutional investors have recently made changes to their positions in TPVG. Quarry LP increased its position in shares of TriplePoint Venture Growth BDC by 43.7% during the fourth quarter. Quarry LP now owns 3,143 shares of the investment management company’s stock worth $34,000 after purchasing an additional 956 shares in the last quarter. EverSource Wealth Advisors LLC acquired a new stake in shares of TriplePoint Venture Growth BDC during the second quarter worth about $62,000. Cape Investment Advisory Inc. acquired a new position in TriplePoint Venture Growth BDC in the 4th quarter valued at about $79,000. Farmers & Merchants Investments Inc. increased its position in TriplePoint Venture Growth BDC by 116.9% in the 1st quarter. Farmers & Merchants Investments Inc. now owns 9,833 shares of the investment management company’s stock valued at $93,000 after acquiring an additional 5,300 shares during the period. Finally, Hartline Investment Corp acquired a new position in TriplePoint Venture Growth BDC in the 1st quarter valued at about $98,000. Institutional investors and hedge funds own 12.77% of the company’s stock.

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.