TriplePoint Venture Growth BDC (NYSE:TPVG) Upgraded 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 report published on Friday.

A number of other analysts have also recently weighed in on the company. Keefe, Bruyette & Woods raised 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 report on Thursday, November 7th. Wells Fargo & Company reduced their target price on 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 lowered their price target for the company from $8.50 to $8.00 in a report on Friday, August 9th. Finally, Piper Sandler reduced their price objective on shares of TriplePoint Venture Growth BDC from $8.00 to $7.50 and set a “neutral” rating for the company 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 MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $7.65.

TriplePoint Venture Growth BDC Stock Performance

Shares of TPVG opened at $7.98 on Friday. The firm has a market cap of $319.40 million, a PE ratio of 37.62 and a beta of 1.80. The firm’s 50 day moving average price is $7.04 and its 200 day moving average price is $7.98. TriplePoint Venture Growth BDC has a twelve month low of $6.44 and a twelve month high of $11.58.

TriplePoint Venture Growth BDC (NYSE:TPVG) last released its quarterly 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 for the quarter, compared to the consensus estimate of $25.65 million. During the same quarter last year, the firm earned $0.54 EPS. On average, sell-side analysts anticipate that TriplePoint Venture Growth BDC will post 1.4 earnings per share 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. Stockholders of record on Friday, December 13th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.20 annualized dividend and a dividend yield of 15.05%. TriplePoint Venture Growth BDC’s payout ratio is 571.46%.

Hedge Funds Weigh In On TriplePoint Venture Growth BDC

Large investors have recently bought and sold shares of the stock. Millennium Management LLC lifted its position in shares of TriplePoint Venture Growth BDC by 169.5% in the 2nd quarter. Millennium Management LLC now owns 432,206 shares of the investment management company’s stock worth $3,471,000 after acquiring an additional 271,824 shares during the period. International Assets Investment Management LLC raised its stake in shares of TriplePoint Venture Growth BDC by 435.6% in the third quarter. International Assets Investment Management LLC now owns 107,630 shares of the investment management company’s stock valued at $760,000 after purchasing an additional 87,535 shares in the last quarter. Van ECK Associates Corp lifted its position in TriplePoint Venture Growth BDC by 16.4% in the second quarter. Van ECK Associates Corp now owns 846,716 shares of the investment management company’s stock worth $6,799,000 after purchasing an additional 119,184 shares during the period. Marshall Wace LLP acquired a new stake in TriplePoint Venture Growth BDC during the second quarter worth $1,486,000. Finally, Magnetar Financial LLC bought a new stake in TriplePoint Venture Growth BDC in the 2nd quarter valued at $297,000. 12.77% of the stock is currently owned by institutional investors and hedge funds.

About TriplePoint Venture Growth BDC

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.