Piper Sandler Issues Positive Forecast for TriplePoint Venture Growth BDC (NYSE:TPVG) Stock Price

TriplePoint Venture Growth BDC (NYSE:TPVG) had its price target hoisted by Piper Sandler from $7.50 to $8.00 in a report issued on Thursday,Benzinga reports. They currently have a neutral rating on the investment management company’s stock.

A number of other analysts have also recently issued reports on TPVG. Keefe, Bruyette & Woods upgraded TriplePoint Venture Growth BDC from an “underperform” rating to a “market perform” rating and decreased their target price for the stock from $8.00 to $7.50 in a report on Thursday, November 7th. Wells Fargo & Company boosted their target price on TriplePoint Venture Growth BDC from $6.50 to $7.50 and gave the stock an “equal weight” rating in a report on Tuesday, November 19th. StockNews.com upgraded TriplePoint Venture Growth BDC from a “sell” rating to a “hold” rating in a report on Friday, November 15th. Finally, Compass Point boosted their target price on TriplePoint Venture Growth BDC from $7.50 to $8.00 and gave the stock a “neutral” rating in a report on Thursday, December 5th. Six investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $7.80.

TriplePoint Venture Growth BDC Price Performance

TPVG opened at $7.60 on Thursday. The stock has a market capitalization of $304.37 million, a price-to-earnings ratio of 36.19 and a beta of 1.90. The business has a 50-day moving average of $7.77 and a two-hundred day moving average of $7.50. TriplePoint Venture Growth BDC has a 12 month low of $6.44 and a 12 month high of $10.09.

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

TriplePoint Venture Growth BDC Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 15.79%. The ex-dividend date of this dividend is Monday, March 17th. TriplePoint Venture Growth BDC’s dividend payout ratio (DPR) is presently 146.34%.

Hedge Funds Weigh In On TriplePoint Venture Growth BDC

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Two Sigma Advisers LP lifted its position in TriplePoint Venture Growth BDC by 6.5% during the 4th quarter. Two Sigma Advisers LP now owns 830,492 shares of the investment management company’s stock worth $6,129,000 after acquiring an additional 50,800 shares in the last quarter. Two Sigma Investments LP lifted its position in TriplePoint Venture Growth BDC by 21.9% during the 4th quarter. Two Sigma Investments LP now owns 678,034 shares of the investment management company’s stock worth $5,004,000 after acquiring an additional 122,039 shares in the last quarter. Marshall Wace LLP lifted its position in TriplePoint Venture Growth BDC by 12.7% during the 4th quarter. Marshall Wace LLP now owns 364,591 shares of the investment management company’s stock worth $2,691,000 after acquiring an additional 40,952 shares in the last quarter. Legal & General Group Plc lifted its position in TriplePoint Venture Growth BDC by 1.3% during the 4th quarter. Legal & General Group Plc now owns 264,486 shares of the investment management company’s stock worth $1,951,000 after acquiring an additional 3,418 shares in the last quarter. Finally, Trexquant Investment LP lifted its position in TriplePoint Venture Growth BDC by 35.5% during the 4th quarter. Trexquant Investment LP now owns 227,039 shares of the investment management company’s stock worth $1,676,000 after acquiring an additional 59,462 shares in the last quarter. 12.77% of the stock is owned by institutional investors and hedge funds.

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.