Analysts Set TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) Target Price at $6.79

Shares of TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) have been given a consensus rating of “Reduce” by the six analysts that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating and five have issued a hold rating on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $6.79.

TPVG has been the subject of several recent analyst reports. Piper Sandler lowered their price target on TriplePoint Venture Growth BDC from $8.00 to $7.00 and set a “neutral” rating for the company in a report on Tuesday, April 8th. Keefe, Bruyette & Woods lowered their target price on shares of TriplePoint Venture Growth BDC from $7.50 to $7.00 and set a “market perform” rating for the company in a report on Tuesday, April 8th. Wells Fargo & Company dropped their price target on shares of TriplePoint Venture Growth BDC from $6.50 to $5.50 and set an “underweight” rating for the company in a research report on Monday, April 28th. Compass Point cut their price target on shares of TriplePoint Venture Growth BDC from $8.00 to $7.25 and set a “neutral” rating on the stock in a research note on Tuesday, March 18th. Finally, UBS Group lowered their price objective on shares of TriplePoint Venture Growth BDC from $7.50 to $6.00 and set a “neutral” rating for the company in a research note on Thursday, April 17th.

TriplePoint Venture Growth BDC Trading Down 7.4%

Shares of TPVG stock opened at $6.68 on Friday. The company has a market capitalization of $268.72 million, a price-to-earnings ratio of 31.81 and a beta of 1.47. The firm has a 50-day moving average price of $6.50 and a 200 day moving average price of $7.20. TriplePoint Venture Growth BDC has a twelve month low of $5.53 and a twelve month high of $9.17.

TriplePoint Venture Growth BDC (NYSE:TPVG) last issued its quarterly earnings results on Wednesday, May 7th. The investment management company reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.03). The business had revenue of $22.45 million during the quarter, compared to analyst estimates of $24.90 million. TriplePoint Venture Growth BDC had a net margin of 9.01% and a return on equity of 16.86%. As a group, research analysts predict that TriplePoint Venture Growth BDC will post 1.4 earnings per share for the current year.

TriplePoint Venture Growth BDC Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be given a dividend of $0.30 per share. The ex-dividend date is Monday, June 16th. This represents a $1.20 dividend on an annualized basis and a yield of 17.97%. TriplePoint Venture Growth BDC’s dividend payout ratio (DPR) is 129.03%.

Institutional Investors Weigh In On TriplePoint Venture Growth BDC

Institutional investors have recently bought and sold shares of the business. Quarry LP boosted its position in TriplePoint Venture Growth BDC by 53.6% during the 1st quarter. Quarry LP now owns 4,669 shares of the investment management company’s stock worth $33,000 after purchasing an additional 1,629 shares during the period. Summit Securities Group LLC acquired a new position in shares of TriplePoint Venture Growth BDC during the fourth quarter worth about $41,000. Private Advisor Group LLC purchased a new stake in shares of TriplePoint Venture Growth BDC in the first quarter worth about $72,000. HighTower Advisors LLC acquired a new stake in shares of TriplePoint Venture Growth BDC in the first quarter valued at about $72,000. Finally, EverSource Wealth Advisors LLC grew its stake in shares of TriplePoint Venture Growth BDC by 25.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 10,000 shares of the investment management company’s stock valued at $74,000 after buying an additional 2,000 shares in the last quarter. 12.77% of the stock is currently owned by hedge funds and other institutional investors.

TriplePoint Venture Growth BDC Company Profile

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.