TriplePoint Venture Growth BDC (NYSE:TPVG) Given New $5.50 Price Target at Wells Fargo & Company

TriplePoint Venture Growth BDC (NYSE:TPVG) had its price objective lowered by Wells Fargo & Company from $6.50 to $5.50 in a research report report published on Monday,Benzinga reports. The firm currently has an underweight rating on the investment management company’s stock.

Other analysts have also issued reports about the stock. Piper Sandler dropped their price target on shares of TriplePoint Venture Growth BDC from $8.00 to $7.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 8th. Keefe, Bruyette & Woods dropped their price target on shares of TriplePoint Venture Growth BDC from $7.50 to $7.00 and set a “market perform” rating on the stock in a research report on Tuesday, April 8th. UBS Group dropped their price objective on shares of TriplePoint Venture Growth BDC from $7.50 to $6.00 and set a “neutral” rating on the stock in a research report on Thursday, April 17th. Finally, Compass Point reduced their target price on shares of TriplePoint Venture Growth BDC from $8.00 to $7.25 and set a “neutral” rating for the company in a report on Tuesday, March 18th. One analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $6.79.

TriplePoint Venture Growth BDC Trading Down 2.1 %

NYSE TPVG opened at $6.08 on Monday. The firm’s fifty day moving average price is $6.82 and its two-hundred day moving average price is $7.32. TriplePoint Venture Growth BDC has a 1 year low of $5.53 and a 1 year high of $9.70. The firm has a market capitalization of $244.03 million, a P/E ratio of 28.95 and a beta of 1.65.

TriplePoint Venture Growth BDC (NYSE:TPVG) last posted its quarterly earnings results on Wednesday, March 5th. The investment management company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.03). TriplePoint Venture Growth BDC had a return on equity of 16.86% and a net margin of 9.01%. The firm had revenue of $25.75 million for the quarter, compared to the consensus estimate of $26.68 million. On average, research analysts anticipate that TriplePoint Venture Growth BDC will post 1.4 EPS for the current fiscal year.

TriplePoint Venture Growth BDC Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 19.74%. The ex-dividend date of this dividend was Monday, March 17th. TriplePoint Venture Growth BDC’s dividend payout ratio is presently 146.34%.

Institutional Investors Weigh In On TriplePoint Venture Growth BDC

Several institutional investors have recently made changes to their positions in TPVG. Two Sigma Investments LP boosted its stake in shares of TriplePoint Venture Growth BDC by 21.9% in the fourth quarter. Two Sigma Investments LP now owns 678,034 shares of the investment management company’s stock valued at $5,004,000 after buying an additional 122,039 shares during the period. Jane Street Group LLC boosted its stake in shares of TriplePoint Venture Growth BDC by 712.4% in the third quarter. Jane Street Group LLC now owns 104,997 shares of the investment management company’s stock valued at $741,000 after buying an additional 92,072 shares during the period. Millennium Management LLC boosted its stake in shares of TriplePoint Venture Growth BDC by 180.1% in the fourth quarter. Millennium Management LLC now owns 120,602 shares of the investment management company’s stock valued at $890,000 after buying an additional 77,551 shares during the period. Alpine Global Management LLC bought a new stake in shares of TriplePoint Venture Growth BDC in the fourth quarter valued at approximately $477,000. Finally, Trexquant Investment LP boosted its stake in shares of TriplePoint Venture Growth BDC by 35.5% in the fourth quarter. Trexquant Investment LP now owns 227,039 shares of the investment management company’s stock valued at $1,676,000 after buying an additional 59,462 shares during the period. 12.77% of the stock is currently owned by institutional investors.

About TriplePoint Venture Growth BDC

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.