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 assigned a consensus rating of “Reduce” from the six ratings firms that are covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation and four have given a hold recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $5.6250.

TPVG has been the topic of several analyst reports. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of TriplePoint Venture Growth BDC in a research report on Tuesday, June 9th. Wells Fargo & Company dropped their price target on shares of TriplePoint Venture Growth BDC from $5.50 to $5.00 and set an “underweight” rating on the stock in a research report on Thursday, March 5th. Keefe, Bruyette & Woods dropped their price target on shares of TriplePoint Venture Growth BDC from $7.00 to $6.50 and set a “market perform” rating on the stock in a research 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 research report on Friday, May 15th. Finally, Piper Sandler dropped their price target on shares of TriplePoint Venture Growth BDC from $6.00 to $5.50 and set a “neutral” rating on the stock in a research report on Tuesday, April 7th.

Hedge Funds Weigh In On TriplePoint Venture Growth BDC

Large investors have recently modified their holdings of the stock. Cetera Investment Advisers increased its position in TriplePoint Venture Growth BDC by 15.7% during the first quarter. Cetera Investment Advisers now owns 54,299 shares of the investment management company’s stock worth $271,000 after acquiring an additional 7,355 shares during the period. Summit Securities Group LLC boosted its stake in shares of TriplePoint Venture Growth BDC by 257.1% in the 1st quarter. Summit Securities Group LLC now owns 5,000 shares of the investment management company’s stock valued at $25,000 after purchasing an additional 3,600 shares in the last quarter. Rockefeller Capital Management L.P. boosted its stake 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 purchasing an additional 3,000 shares in the last quarter. XTX Topco Ltd acquired a new stake in shares of TriplePoint Venture Growth BDC in the 4th quarter valued at approximately $354,000. Finally, Oxford Asset Management LLP acquired a new stake in shares of TriplePoint Venture Growth BDC in the 4th quarter valued at approximately $74,000. 12.77% of the stock is owned by institutional investors.

TriplePoint Venture Growth BDC Trading Down 1.1%

Shares of TPVG opened at $4.71 on Wednesday. TriplePoint Venture Growth BDC has a 12 month low of $4.48 and a 12 month high of $7.50. The firm has a fifty day simple moving average of $5.45 and a 200 day simple moving average of $5.70. The stock has a market capitalization of $191.23 million, a price-to-earnings ratio of 4.44 and a beta of 1.27.

TriplePoint Venture Growth BDC (NYSE:TPVG) last announced its 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 return on equity of 11.54% and a net margin of 46.77%.The business had revenue of $19.81 million for the quarter, compared to analyst estimates of $23.14 million. As a group, research analysts predict that TriplePoint Venture Growth BDC will post 0.95 earnings per share for the current fiscal year.

TriplePoint Venture Growth BDC Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th will be given a $0.23 dividend. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a $0.92 annualized dividend and a dividend yield of 19.5%. TriplePoint Venture Growth BDC’s dividend payout ratio is presently 86.79%.

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.