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

Shares of TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) have been given a consensus rating of “Reduce” by the six ratings firms that are presently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell rating and four have issued a hold rating on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $5.50.

Several analysts recently issued reports on the company. Zacks Research upgraded TriplePoint Venture Growth BDC from a “strong sell” rating to a “hold” rating in a report on Friday, May 15th. Weiss Ratings restated a “sell (d+)” rating on shares of TriplePoint Venture Growth BDC in a research note on Tuesday, June 9th. Finally, Piper Sandler dropped their target price on TriplePoint Venture Growth BDC from $5.50 to $5.00 and set a “neutral” rating on the stock in a research report on Monday, July 13th.

TriplePoint Venture Growth BDC Stock Down 1.9%

TPVG stock opened at $4.72 on Friday. TriplePoint Venture Growth BDC has a 12-month low of $4.48 and a 12-month high of $7.49. The company has a market cap of $191.63 million, a price-to-earnings ratio of 4.45 and a beta of 1.28. The company has a 50 day moving average of $5.22 and a two-hundred day moving average of $5.49.

TriplePoint Venture Growth BDC (NYSE:TPVG) last posted its quarterly earnings results on Wednesday, May 6th. The investment management company reported $0.23 EPS for the quarter, missing the consensus estimate 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 company had revenue of $19.81 million for the quarter, compared to analysts’ expectations of $23.14 million. On average, research analysts anticipate that TriplePoint Venture Growth BDC will post 0.95 EPS for the current year.

TriplePoint Venture Growth BDC Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th were paid a $0.23 dividend. The ex-dividend date of this dividend was Tuesday, June 16th. This represents a $0.92 annualized dividend and a dividend yield of 19.5%. TriplePoint Venture Growth BDC’s payout ratio is presently 86.79%.

Hedge Funds Weigh In On TriplePoint Venture Growth BDC

A number of hedge funds have recently added to or reduced their stakes in the company. Summit Securities Group LLC lifted its stake in TriplePoint Venture Growth BDC by 257.1% in the first quarter. Summit Securities Group LLC now owns 5,000 shares of the investment management company’s stock valued at $25,000 after acquiring an additional 3,600 shares during the last quarter. Advisory Services Network LLC bought a new stake in TriplePoint Venture Growth BDC in the third quarter worth approximately $33,000. Northwestern Mutual Wealth Management Co. acquired a new position in shares of TriplePoint Venture Growth BDC during the 2nd quarter worth $35,000. Rockefeller Capital Management L.P. increased its stake in shares of TriplePoint Venture Growth BDC by 75.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 7,000 shares of the investment management company’s stock worth $46,000 after purchasing an additional 3,000 shares during the last quarter. Finally, Attessa Capital LLC acquired a new position in shares of TriplePoint Venture Growth BDC during the 2nd quarter worth $67,000. Institutional investors and hedge funds own 12.77% of the company’s stock.

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.