TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) Given Average Recommendation of “Reduce” by Brokerages

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) has been given a consensus recommendation of “Reduce” by the five research firms that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation and four have given a hold recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $9.75.

TPVG has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods dropped their price target on shares of TriplePoint Venture Growth BDC from $9.50 to $9.00 and set an “underperform” rating on the stock in a research report on Thursday, March 7th. Wells Fargo & Company cut their price objective on shares of TriplePoint Venture Growth BDC from $11.00 to $9.50 and set an “equal weight” rating for the company in a research report on Thursday, March 7th. Piper Sandler reduced their target price on TriplePoint Venture Growth BDC from $11.00 to $10.00 and set a “neutral” rating for the company in a research report on Thursday, March 7th. JMP Securities reissued a “market perform” rating on shares of TriplePoint Venture Growth BDC in a research note on Thursday, March 7th. Finally, Compass Point upgraded TriplePoint Venture Growth BDC from a “sell” rating to a “neutral” rating and set a $8.75 price objective on the stock in a research report on Friday, March 22nd.

Institutional Trading of TriplePoint Venture Growth BDC

Large investors have recently added to or reduced their stakes in the stock. CWM LLC grew its stake in TriplePoint Venture Growth BDC by 127.5% in the fourth quarter. CWM LLC now owns 2,275 shares of the investment management company’s stock worth $25,000 after purchasing an additional 1,275 shares during the period. Quarry LP lifted its holdings in shares of TriplePoint Venture Growth BDC by 43.7% during the fourth quarter. Quarry LP now owns 3,143 shares of the investment management company’s stock valued at $34,000 after purchasing an additional 956 shares during the last quarter. Farmers & Merchants Investments Inc. boosted its position in shares of TriplePoint Venture Growth BDC by 94.3% in the 4th quarter. Farmers & Merchants Investments Inc. now owns 4,533 shares of the investment management company’s stock worth $49,000 after purchasing an additional 2,200 shares in the last quarter. Cape Investment Advisory Inc. bought a new position in TriplePoint Venture Growth BDC during the 4th quarter valued at approximately $79,000. Finally, Hartline Investment Corp bought a new stake in TriplePoint Venture Growth BDC in the first quarter worth $98,000. Institutional investors own 12.77% of the company’s stock.

TriplePoint Venture Growth BDC Trading Down 0.2 %

Shares of NYSE TPVG opened at $9.14 on Thursday. The firm’s 50-day moving average price is $9.46 and its 200-day moving average price is $10.25. The firm has a market capitalization of $345.91 million, a P/E ratio of -8.23 and a beta of 1.75. TriplePoint Venture Growth BDC has a 1-year low of $8.88 and a 1-year high of $12.70.

TriplePoint Venture Growth BDC (NYSE:TPVG) last released its quarterly earnings data on Wednesday, May 1st. The investment management company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.03). The business had revenue of $29.27 million during the quarter, compared to the consensus estimate of $31.25 million. TriplePoint Venture Growth BDC had a negative net margin of 29.68% and a positive return on equity of 19.64%. During the same period last year, the business posted $0.53 earnings per share. Equities research analysts forecast that TriplePoint Venture Growth BDC will post 1.58 EPS for the current year.

TriplePoint Venture Growth BDC Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.60 annualized dividend and a dividend yield of 17.51%. TriplePoint Venture Growth BDC’s payout ratio is presently -144.14%.

TriplePoint Venture Growth BDC Company Profile

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.