TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) Receives $5.50 Consensus Target Price from Brokerages

Shares of TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) have earned an average recommendation of “Reduce” from the six analysts that are presently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation and four have given a hold recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $5.50.

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

TriplePoint Venture Growth BDC Stock Up 2.3%

Shares of NYSE:TPVG opened at $4.67 on Friday. TriplePoint Venture Growth BDC has a 52-week low of $4.48 and a 52-week high of $7.31. The company has a 50 day moving average of $5.17 and a two-hundred day moving average of $5.46. The company has a market capitalization of $189.48 million, a price-to-earnings ratio of 4.40 and a beta of 1.28.

TriplePoint Venture Growth BDC (NYSE:TPVG) last posted its quarterly earnings data on Wednesday, May 6th. The investment management company reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.02). The firm had revenue of $19.81 million for the quarter, compared to analysts’ expectations of $23.14 million. TriplePoint Venture Growth BDC had a net margin of 46.77% and a return on equity of 11.54%. On average, equities analysts anticipate that TriplePoint Venture Growth BDC will post 0.95 earnings per share for the current year.

TriplePoint Venture Growth BDC Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th were issued a dividend of $0.23 per share. The ex-dividend date was Tuesday, June 16th. This represents a $0.92 annualized dividend and a yield of 19.7%. TriplePoint Venture Growth BDC’s payout ratio is currently 86.79%.

Institutional Trading of TriplePoint Venture Growth BDC

A number of hedge funds have recently made changes to their positions in TPVG. Brevan Howard Capital Management LP acquired a new stake in TriplePoint Venture Growth BDC in the third quarter valued at $165,000. Millennium Management LLC acquired a new position in TriplePoint Venture Growth BDC during the 3rd quarter worth $134,000. Verition Fund Management LLC grew its holdings in TriplePoint Venture Growth BDC by 14.1% during the 3rd quarter. Verition Fund Management LLC now owns 22,677 shares of the investment management company’s stock worth $131,000 after acquiring an additional 2,800 shares in the last quarter. Squarepoint Ops LLC bought a new stake in shares of TriplePoint Venture Growth BDC in the 4th quarter worth about $121,000. Finally, Oxford Asset Management LLP bought a new stake in shares of TriplePoint Venture Growth BDC in the 4th quarter worth about $74,000. Institutional investors and hedge funds own 12.77% of the company’s stock.

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.