TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) Receives $5.63 Average PT from Analysts

Shares of TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) have earned a consensus rating of “Reduce” from the six ratings firms that are currently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating and four have given a hold rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $5.6250.

Several research firms have recently commented on TPVG. Weiss Ratings lowered TriplePoint Venture Growth BDC from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, March 12th. Keefe, Bruyette & Woods cut their price target on 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. Wells Fargo & Company reduced their price target on TriplePoint Venture Growth BDC from $5.50 to $5.00 and set an “underweight” rating for the company in a research report on Thursday, March 5th. Finally, Piper Sandler lowered their price objective on 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

Hedge funds have recently modified their holdings of the company. Kovack Advisors Inc. increased its stake in shares of TriplePoint Venture Growth BDC by 4.4% in the third quarter. Kovack Advisors Inc. now owns 52,519 shares of the investment management company’s stock worth $303,000 after purchasing an additional 2,200 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its stake in shares of TriplePoint Venture Growth BDC by 4.4% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 53,793 shares of the investment management company’s stock valued at $351,000 after buying an additional 2,278 shares in the last quarter. U.S. Capital Wealth Advisors LLC boosted its holdings in TriplePoint Venture Growth BDC by 6.4% in the 3rd quarter. U.S. Capital Wealth Advisors LLC now owns 42,980 shares of the investment management company’s stock worth $248,000 after buying an additional 2,600 shares during the period. Verition Fund Management LLC increased its stake in TriplePoint Venture Growth BDC by 14.1% in the 3rd quarter. Verition Fund Management LLC now owns 22,677 shares of the investment management company’s stock worth $131,000 after buying an additional 2,800 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC increased its stake in TriplePoint Venture Growth BDC by 13.8% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 24,152 shares of the investment management company’s stock worth $158,000 after buying an additional 2,921 shares in the last quarter. 12.77% of the stock is currently owned by institutional investors.

TriplePoint Venture Growth BDC Trading Up 0.7%

Shares of NYSE TPVG opened at $5.39 on Friday. The firm has a 50 day moving average of $5.25 and a 200 day moving average of $5.81. The firm has a market capitalization of $218.20 million, a price-to-earnings ratio of 4.38 and a beta of 1.32. TriplePoint Venture Growth BDC has a 12-month low of $4.48 and a 12-month high of $7.53.

TriplePoint Venture Growth BDC (NYSE:TPVG) last released its quarterly earnings results on Wednesday, March 4th. The investment management company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.01). The business had revenue of $3.42 million during the quarter, compared to the consensus estimate of $23.78 million. TriplePoint Venture Growth BDC had a return on equity of 12.04% and a net margin of 54.12%. Sell-side analysts predict that TriplePoint Venture Growth BDC will post 1.4 EPS for the current year.

TriplePoint Venture Growth BDC Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th were paid a dividend of $0.23 per share. The ex-dividend date was Tuesday, March 17th. This represents a $0.92 dividend on an annualized basis and a yield of 17.1%. TriplePoint Venture Growth BDC’s dividend payout ratio (DPR) is presently 74.80%.

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.