TriplePoint Venture Growth BDC (NYSE:TPVG) Raised to Hold at StockNews.com

StockNews.com upgraded shares of TriplePoint Venture Growth BDC (NYSE:TPVG) from a sell rating to a hold rating in a research note published on Friday.

Several other analysts also recently commented on TPVG. Piper Sandler cut their price objective on shares of TriplePoint Venture Growth BDC from $8.00 to $7.50 and set a “neutral” rating on the stock in a research report on Thursday, November 7th. Wells Fargo & Company decreased their price objective on shares of TriplePoint Venture Growth BDC from $8.00 to $6.50 and set an “underweight” rating for the company in a report on Tuesday, October 29th. LADENBURG THALM/SH SH downgraded TriplePoint Venture Growth BDC from a “buy” rating to a “neutral” rating and cut their target price for the company from $8.50 to $8.00 in a research note on Friday, August 9th. Finally, Keefe, Bruyette & Woods upgraded shares of TriplePoint Venture Growth BDC from an “underperform” rating to a “market perform” rating and reduced their price target for the stock from $8.00 to $7.50 in a research note on Thursday, November 7th. One research analyst has rated the stock with a sell rating and six have given a hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $7.65.

TriplePoint Venture Growth BDC Trading Up 0.1 %

Shares of TPVG stock traded up $0.01 during midday trading on Friday, reaching $7.90. 263,982 shares of the stock were exchanged, compared to its average volume of 360,538. The firm has a market cap of $316.40 million, a PE ratio of 37.62 and a beta of 1.80. The company’s 50 day moving average is $7.04 and its two-hundred day moving average is $8.00. TriplePoint Venture Growth BDC has a 1 year low of $6.44 and a 1 year high of $11.58.

TriplePoint Venture Growth BDC (NYSE:TPVG) last announced its earnings results on Wednesday, November 6th. The investment management company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. TriplePoint Venture Growth BDC had a net margin of 9.01% and a return on equity of 16.86%. The business had revenue of $26.52 million during the quarter, compared to the consensus estimate of $25.65 million. During the same quarter last year, the firm earned $0.54 earnings per share. As a group, equities analysts expect that TriplePoint Venture Growth BDC will post 1.4 EPS for the current fiscal year.

TriplePoint Venture Growth BDC Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be given a $0.30 dividend. The ex-dividend date is Friday, December 13th. This represents a $1.20 annualized dividend and a yield of 15.19%. TriplePoint Venture Growth BDC’s dividend payout ratio (DPR) is 571.46%.

Institutional Investors Weigh In On TriplePoint Venture Growth BDC

Several hedge funds have recently modified their holdings of the business. Quarry LP bought a new position in shares of TriplePoint Venture Growth BDC in the 2nd quarter worth $35,000. EverSource Wealth Advisors LLC purchased a new position in TriplePoint Venture Growth BDC in the second quarter valued at about $62,000. Dynamic Technology Lab Private Ltd bought a new position in TriplePoint Venture Growth BDC in the third quarter worth about $83,000. Diversify Wealth Management LLC purchased a new stake in shares of TriplePoint Venture Growth BDC during the third quarter valued at about $82,000. Finally, BNP Paribas Financial Markets boosted its holdings in shares of TriplePoint Venture Growth BDC by 214.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 13,200 shares of the investment management company’s stock valued at $93,000 after buying an additional 9,000 shares in 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.