TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) Receives $6.05 Average Target Price from Analysts

Shares of TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) have been assigned a consensus rating of “Reduce” from the six ratings firms that are covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation and four have assigned a hold recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $5.75.

TPVG has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods lowered their price target on TriplePoint Venture Growth BDC from $7.00 to $6.50 and set a “market perform” rating for the company in a report on Thursday, March 5th. Wells Fargo & Company reduced their price objective on TriplePoint Venture Growth BDC from $5.50 to $5.00 and set an “underweight” rating on the stock in a research note on Thursday, March 5th. Zacks Research raised shares of TriplePoint Venture Growth BDC from a “strong sell” rating to a “hold” rating in a report on Monday, December 8th. Weiss Ratings lowered shares of TriplePoint Venture Growth BDC from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, March 12th. Finally, Wall Street Zen raised shares of TriplePoint Venture Growth BDC from a “sell” rating to a “hold” rating in a report on Saturday, December 6th.

Insider Activity

In related news, insider Sajal Srivastava bought 23,799 shares of the firm’s stock in a transaction on Monday, January 12th. The stock was bought at an average cost of $6.66 per share, for a total transaction of $158,501.34. Following the completion of the purchase, the insider directly owned 1,998,489 shares in the company, valued at approximately $13,309,936.74. The trade was a 1.21% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO James Labe bought 23,799 shares of the stock in a transaction dated Monday, January 12th. The shares were bought at an average cost of $6.66 per share, with a total value of $158,501.34. Following the completion of the acquisition, the chief executive officer directly owned 1,998,489 shares of the company’s stock, valued at approximately $13,309,936.74. The trade was a 1.21% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders have purchased 777,394 shares of company stock worth $5,034,620. 1.55% of the stock is owned by company insiders.

Institutional Trading of TriplePoint Venture Growth BDC

Several hedge funds have recently made changes to their positions in TPVG. Two Sigma Investments LP grew its stake in TriplePoint Venture Growth BDC by 58.6% during the 3rd quarter. Two Sigma Investments LP now owns 612,727 shares of the investment management company’s stock worth $3,535,000 after buying an additional 226,479 shares during the last quarter. Marshall Wace LLP lifted its stake in TriplePoint Venture Growth BDC by 44.9% in the second quarter. Marshall Wace LLP now owns 529,201 shares of the investment management company’s stock valued at $3,710,000 after buying an additional 163,916 shares during the last quarter. Legal & General Group Plc lifted its stake in TriplePoint Venture Growth BDC by 4.5% in the second quarter. Legal & General Group Plc now owns 276,451 shares of the investment management company’s stock valued at $1,935,000 after buying an additional 11,965 shares during the last quarter. Trexquant Investment LP boosted its holdings in shares of TriplePoint Venture Growth BDC by 48.1% during the fourth quarter. Trexquant Investment LP now owns 190,996 shares of the investment management company’s stock valued at $1,249,000 after acquiring an additional 62,023 shares during the period. Finally, Norden Group LLC boosted its holdings in shares of TriplePoint Venture Growth BDC by 150.1% during the fourth quarter. Norden Group LLC now owns 174,090 shares of the investment management company’s stock valued at $1,139,000 after acquiring an additional 104,492 shares during the period. Institutional investors own 12.77% of the company’s stock.

TriplePoint Venture Growth BDC Stock Performance

Shares of TPVG stock opened at $4.91 on Monday. The stock has a market capitalization of $198.93 million, a price-to-earnings ratio of 3.99 and a beta of 1.37. TriplePoint Venture Growth BDC has a one year low of $4.88 and a one year high of $7.53. The company’s 50-day simple moving average is $5.76 and its 200-day simple moving average is $5.99.

TriplePoint Venture Growth BDC (NYSE:TPVG) last announced its quarterly earnings data on Wednesday, March 4th. The investment management company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.01). TriplePoint Venture Growth BDC had a net margin of 54.12% and a return on equity of 12.04%. The firm had revenue of $3.42 million during the quarter, compared to the consensus estimate of $23.78 million. As a group, research analysts forecast that TriplePoint Venture Growth BDC will post 1.4 EPS for the current year.

TriplePoint Venture Growth BDC Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 18.7%. The ex-dividend date of this dividend is Tuesday, March 17th. TriplePoint Venture Growth BDC’s dividend payout ratio is currently 74.80%.

TriplePoint Venture Growth BDC Company Profile

TriplePoint Venture Growth BDC Inc is a closed-end management investment company externally managed by TriplePoint Capital LLC. The firm specializes in providing customized debt and equity financing to growth-stage, venture capital– and private equity–backed companies. Its financing solutions include senior secured loans, unitranche facilities, subordinated debt and selective equity co-investments tailored to support expansion, working capital needs and strategic initiatives.

Launched in September 2018 and listed on the New York Stock Exchange under the symbol TPVG, TriplePoint Venture Growth BDC leverages the deep industry expertise and established underwriting capabilities of TriplePoint Capital, a venture lender since 2003.