Brokerages Set TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) Target Price at $5.25

Shares of TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) have been given a consensus recommendation of “Reduce” by the six analysts that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating and five have given a hold rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $5.25.

Several brokerages recently commented on TPVG. Weiss Ratings raised TriplePoint Venture Growth BDC from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday. Zacks Research upgraded TriplePoint Venture Growth BDC from a “strong sell” rating to a “hold” rating in a report on Friday, May 15th. Piper Sandler decreased their target price on TriplePoint Venture Growth BDC from $5.50 to $5.00 and set a “neutral” rating for the company in a research note on Monday, July 13th. Finally, Keefe, Bruyette & Woods lowered their price target on TriplePoint Venture Growth BDC from $6.00 to $5.50 and set a “market perform” rating for the company in a report on Thursday, August 6th.

TriplePoint Venture Growth BDC Stock Performance

Shares of NYSE:TPVG opened at $5.45 on Thursday. TriplePoint Venture Growth BDC has a 52 week low of $4.39 and a 52 week high of $6.95. The company has a market capitalization of $221.83 million, a PE ratio of 5.50 and a beta of 1.28. The company has a 50 day moving average price of $4.90 and a two-hundred day moving average price of $5.25.

TriplePoint Venture Growth BDC (NYSE:TPVG) last announced its quarterly earnings results on Wednesday, August 5th. The investment management company reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.02. TriplePoint Venture Growth BDC had a net margin of 44.58% and a return on equity of 10.68%. The company had revenue of $24.48 million for the quarter, compared to analysts’ expectations of $22.88 million. On average, sell-side analysts forecast that TriplePoint Venture Growth BDC will post 0.94 earnings per share for the current year.

TriplePoint Venture Growth BDC Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 30th. Stockholders of record on Wednesday, December 16th will be issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 4.4%. The ex-dividend date is Wednesday, December 16th. TriplePoint Venture Growth BDC’s payout ratio is 92.93%.

Institutional Trading of TriplePoint Venture Growth BDC

A number of large investors have recently bought and sold shares of TPVG. BlackRock Inc. acquired a new position in shares of TriplePoint Venture Growth BDC in the second quarter valued at approximately $754,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its position in shares of TriplePoint Venture Growth BDC by 19.9% during the second quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 14,659 shares of the investment management company’s stock worth $72,000 after acquiring an additional 2,435 shares in the last quarter. Attessa Capital LLC bought a new stake in shares of TriplePoint Venture Growth BDC during the second quarter worth $67,000. Cetera Investment Advisers raised its holdings in shares of 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. Finally, Oxford Asset Management LLP acquired a new stake in shares of TriplePoint Venture Growth BDC during the fourth quarter worth $74,000. 12.77% of the stock is owned by institutional investors.

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.