TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) Receives Consensus Rating of “Reduce” from Brokerages

Shares of TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) have received an average recommendation of “Reduce” from the five research firms that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $7.45.

A number of equities analysts have recently issued reports on the company. Piper Sandler increased their price target on TriplePoint Venture Growth BDC from $7.50 to $8.00 and gave the stock a “neutral” rating in a research report on Thursday, March 6th. Compass Point lowered their price objective 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, Wells Fargo & Company downgraded shares of TriplePoint Venture Growth BDC from an “equal weight” rating to an “underweight” rating and cut their target price for the company from $7.50 to $6.50 in a research report on Monday, March 17th.

TriplePoint Venture Growth BDC Price Performance

Shares of TPVG opened at $7.10 on Monday. The firm has a market capitalization of $284.77 million, a price-to-earnings ratio of 33.79 and a beta of 1.90. The company has a 50-day moving average of $7.67 and a 200 day moving average of $7.47. TriplePoint Venture Growth BDC has a 1-year low of $6.44 and a 1-year high of $9.73.

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

TriplePoint Venture Growth BDC Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 16.91%. The ex-dividend date is Monday, March 17th. TriplePoint Venture Growth BDC’s payout ratio is currently 146.34%.

Hedge Funds Weigh In On TriplePoint Venture Growth BDC

A number of large investors have recently made changes to their positions in the business. Dynamic Technology Lab Private Ltd acquired a new position in TriplePoint Venture Growth BDC during the 3rd quarter valued at about $83,000. BNP Paribas Financial Markets increased its holdings in shares of TriplePoint Venture Growth BDC by 214.3% during the third quarter. BNP Paribas Financial Markets now owns 13,200 shares of the investment management company’s stock valued at $93,000 after acquiring an additional 9,000 shares in the last quarter. Townsquare Capital LLC raised its position in shares of TriplePoint Venture Growth BDC by 12.3% in the 3rd quarter. Townsquare Capital LLC now owns 75,845 shares of the investment management company’s stock valued at $535,000 after purchasing an additional 8,311 shares during the last quarter. Paloma Partners Management Co acquired a new stake in TriplePoint Venture Growth BDC in the 3rd quarter worth approximately $282,000. Finally, Quadrature Capital Ltd purchased a new stake in TriplePoint Venture Growth BDC during the 3rd quarter worth approximately $99,000. 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.