TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) Receives $5.63 Average PT from Analysts

Shares of TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) have been given an average rating of “Reduce” by the six ratings firms that are currently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation and four have assigned a hold recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $5.6250.

TPVG has been the subject of a number of research reports. Piper Sandler dropped their target price on shares of TriplePoint Venture Growth BDC from $6.00 to $5.50 and set a “neutral” rating for the company in a report on Tuesday, April 7th. Weiss Ratings lowered shares of TriplePoint Venture Growth BDC from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, March 12th. Zacks Research upgraded shares of TriplePoint Venture Growth BDC from a “strong sell” rating to a “hold” rating in a report on Friday, May 15th. Keefe, Bruyette & Woods decreased their target price on shares of TriplePoint Venture Growth BDC from $7.00 to $6.50 and set a “market perform” rating for the company in a research report on Thursday, March 5th. Finally, Wells Fargo & Company decreased their target price on shares of TriplePoint Venture Growth BDC from $5.50 to $5.00 and set an “underweight” rating for the company in a research report on Thursday, March 5th.

Institutional Trading of TriplePoint Venture Growth BDC

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TPVG. Two Sigma Investments LP grew its position in shares of TriplePoint Venture Growth BDC by 58.6% during the 3rd quarter. Two Sigma Investments LP now owns 612,727 shares of the investment management company’s stock worth $3,535,000 after buying an additional 226,479 shares during the period. Marshall Wace LLP grew its position in TriplePoint Venture Growth BDC by 44.9% in the 2nd quarter. Marshall Wace LLP now owns 529,201 shares of the investment management company’s stock valued at $3,710,000 after purchasing an additional 163,916 shares during the period. Trexquant Investment LP grew its position in TriplePoint Venture Growth BDC by 48.1% in the 4th quarter. Trexquant Investment LP now owns 190,996 shares of the investment management company’s stock valued at $1,249,000 after purchasing an additional 62,023 shares during the period. Norden Group LLC grew its position in TriplePoint Venture Growth BDC by 150.1% in the 4th quarter. Norden Group LLC now owns 174,090 shares of the investment management company’s stock valued at $1,139,000 after purchasing an additional 104,492 shares during the period. Finally, Jane Street Group LLC grew its position in TriplePoint Venture Growth BDC by 7.3% in the 2nd quarter. Jane Street Group LLC now owns 72,663 shares of the investment management company’s stock valued at $509,000 after purchasing an additional 4,970 shares during the period. Institutional investors and hedge funds own 12.77% of the company’s stock.

TriplePoint Venture Growth BDC Stock Performance

TPVG stock opened at $5.38 on Friday. The company’s 50-day simple moving average is $5.39 and its 200 day simple moving average is $5.79. TriplePoint Venture Growth BDC has a 52 week low of $4.48 and a 52 week high of $7.53. The company has a market capitalization of $218.23 million, a PE ratio of 5.07 and a beta of 1.27.

TriplePoint Venture Growth BDC (NYSE:TPVG) last posted its quarterly earnings data on Wednesday, May 6th. The investment management company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.02). TriplePoint Venture Growth BDC had a return on equity of 11.54% and a net margin of 46.77%.The firm had revenue of $19.81 million for the quarter, compared to the consensus estimate of $23.14 million. On average, analysts forecast that TriplePoint Venture Growth BDC will post 0.95 EPS for the current year.

TriplePoint Venture Growth BDC Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 17.1%. The ex-dividend date of this dividend is Tuesday, June 16th. TriplePoint Venture Growth BDC’s dividend payout ratio is currently 86.79%.

TriplePoint Venture Growth BDC Company Profile

TriplePoint Venture Growth BDC Inc is a closed-end management investment company externally managed by TriplePoint Capital LLC. The firm specializes in providing customized debt and equity financing to growth-stage, venture capital– and private equity–backed companies. Its financing solutions include senior secured loans, unitranche facilities, subordinated debt and selective equity co-investments tailored to support expansion, working capital needs and strategic initiatives.

Launched in September 2018 and listed on the New York Stock Exchange under the symbol TPVG, TriplePoint Venture Growth BDC leverages the deep industry expertise and established underwriting capabilities of TriplePoint Capital, a venture lender since 2003.