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

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) has received a consensus rating of “Reduce” from the five ratings firms that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $7.45.

A number of research analysts recently weighed in on TPVG shares. Wells Fargo & Company cut shares of TriplePoint Venture Growth BDC from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $7.50 to $6.50 in a report on Monday, March 17th. Compass Point dropped their price target on shares of TriplePoint Venture Growth BDC from $8.00 to $7.25 and set a “neutral” rating for the company in a research note on Tuesday, March 18th. Finally, Piper Sandler lifted their target price on TriplePoint Venture Growth BDC from $7.50 to $8.00 and gave the company a “neutral” rating in a report on Thursday, March 6th.

TriplePoint Venture Growth BDC Stock Performance

TriplePoint Venture Growth BDC stock opened at $6.12 on Monday. The firm has a 50 day moving average price of $7.58 and a 200 day moving average price of $7.45. TriplePoint Venture Growth BDC has a fifty-two week low of $6.06 and a fifty-two week high of $9.73. The company has a market capitalization of $245.44 million, a PE ratio of 29.12 and a beta of 1.90.

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

TriplePoint Venture Growth BDC Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 19.62%. TriplePoint Venture Growth BDC’s payout ratio is currently 146.34%.

Institutional Trading of TriplePoint Venture Growth BDC

Several institutional investors have recently modified their holdings of TPVG. Two Sigma Advisers LP grew its position in shares of TriplePoint Venture Growth BDC by 6.5% during the fourth 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 during the last quarter. Two Sigma Investments LP increased its stake in TriplePoint Venture Growth BDC by 21.9% in the fourth quarter. Two Sigma Investments LP now owns 678,034 shares of the investment management company’s stock valued at $5,004,000 after purchasing an additional 122,039 shares during the period. Marshall Wace LLP increased its stake in TriplePoint Venture Growth BDC by 12.7% in the fourth quarter. Marshall Wace LLP now owns 364,591 shares of the investment management company’s stock valued at $2,691,000 after purchasing an additional 40,952 shares during the period. Legal & General Group Plc raised its holdings in shares of TriplePoint Venture Growth BDC by 1.3% in the fourth quarter. Legal & General Group Plc now owns 264,486 shares of the investment management company’s stock valued at $1,951,000 after buying an additional 3,418 shares during the last quarter. Finally, Trexquant Investment LP grew its holdings in shares of TriplePoint Venture Growth BDC by 35.5% during the fourth quarter. Trexquant Investment LP now owns 227,039 shares of the investment management company’s stock worth $1,676,000 after buying an additional 59,462 shares during the last quarter. Hedge funds and other institutional investors own 12.77% of the company’s stock.

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.