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 six analysts that are currently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating and four have issued a hold rating on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $5.6250.

TPVG has been the subject of a number of analyst reports. Piper Sandler decreased their price objective on shares of TriplePoint Venture Growth BDC from $6.00 to $5.50 and set a “neutral” rating for the company in a research report on Tuesday, April 7th. Wells Fargo & Company reduced their target price on shares of TriplePoint Venture Growth BDC from $5.50 to $5.00 and set an “underweight” rating for the company in a report 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 Friday, May 15th. Keefe, Bruyette & Woods reduced their target price on shares of 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. Finally, Weiss Ratings downgraded shares of TriplePoint Venture Growth BDC from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, March 12th.

TriplePoint Venture Growth BDC Price Performance

Shares of TPVG opened at $5.54 on Friday. The firm has a 50-day moving average of $5.32 and a 200-day moving average of $5.80. TriplePoint Venture Growth BDC has a one year low of $4.48 and a one year high of $7.53. The company has a market cap of $224.96 million, a PE ratio of 5.23 and a beta of 1.28.

TriplePoint Venture Growth BDC (NYSE:TPVG) last announced its quarterly earnings data on Wednesday, May 6th. The investment management company reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.02). TriplePoint Venture Growth BDC had a net margin of 46.77% and a return on equity of 11.54%. The firm had revenue of $19.81 million during the quarter, compared to the consensus estimate of $23.14 million. Analysts expect that TriplePoint Venture Growth BDC will post 0.95 earnings per share for the current year.

TriplePoint Venture Growth BDC Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th will be issued a dividend of $0.23 per share. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a $0.92 annualized dividend and a dividend yield of 16.6%. TriplePoint Venture Growth BDC’s payout ratio is presently 86.79%.

Institutional Trading of TriplePoint Venture Growth BDC

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Oxford Asset Management LLP acquired a new stake in TriplePoint Venture Growth BDC in the 4th quarter worth about $74,000. Northwestern Mutual Wealth Management Co. acquired a new stake in TriplePoint Venture Growth BDC in the 2nd quarter worth about $35,000. Advisory Services Network LLC acquired a new stake in TriplePoint Venture Growth BDC in the 3rd quarter worth about $33,000. Cetera Investment Advisers raised its stake in TriplePoint Venture Growth BDC by 15.7% in the 1st quarter. Cetera Investment Advisers now owns 54,299 shares of the investment management company’s stock worth $271,000 after purchasing an additional 7,355 shares in the last quarter. Finally, Rockefeller Capital Management L.P. raised its position in shares of TriplePoint Venture Growth BDC by 75.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 7,000 shares of the investment management company’s stock valued at $46,000 after buying an additional 3,000 shares in the last quarter. Institutional investors own 12.77% of the company’s stock.

About TriplePoint Venture Growth BDC

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.