TriplePoint Venture Growth BDC (NYSE:TPVG) Price Target Cut to $7.25 by Analysts at Compass Point

TriplePoint Venture Growth BDC (NYSE:TPVG) had its price target lowered by Compass Point from $8.00 to $7.25 in a report published on Tuesday,Benzinga reports. The firm currently has a neutral rating on the investment management company’s stock.

A number of other research firms also recently weighed in on TPVG. Wells Fargo & Company downgraded TriplePoint Venture Growth BDC from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $7.50 to $6.50 in a report on Monday. Piper Sandler increased their price objective 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. One analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $7.45.

TriplePoint Venture Growth BDC Stock Performance

Shares of TPVG opened at $7.14 on Tuesday. TriplePoint Venture Growth BDC has a 52 week low of $6.44 and a 52 week high of $9.73. The stock has a market capitalization of $286.38 million, a price-to-earnings ratio of 33.98 and a beta of 1.90. The stock has a fifty day moving average of $7.73 and a 200-day moving average of $7.49.

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 for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). The company had revenue of $25.75 million during the quarter, compared to analyst estimates of $26.68 million. TriplePoint Venture Growth BDC had a net margin of 9.01% and a return on equity of 16.86%. As a group, equities analysts forecast that TriplePoint Venture Growth BDC will post 1.4 EPS for the current year.

TriplePoint Venture Growth BDC Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $1.20 dividend on an annualized basis and a yield of 16.82%. TriplePoint Venture Growth BDC’s payout ratio is currently 146.34%.

Institutional Trading of TriplePoint Venture Growth BDC

A number of large investors have recently bought and sold shares of TPVG. Dynamic Technology Lab Private Ltd acquired a new stake in shares of TriplePoint Venture Growth BDC in the 3rd quarter valued at about $83,000. BNP Paribas Financial Markets grew its stake 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 during the period. Townsquare Capital LLC grew its stake 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 buying an additional 8,311 shares during the period. Paloma Partners Management Co acquired a new stake in shares of TriplePoint Venture Growth BDC in the 3rd quarter valued at about $282,000. Finally, Quadrature Capital Ltd acquired a new stake in shares of TriplePoint Venture Growth BDC in the 3rd quarter valued at about $99,000. 12.77% of the stock is currently 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.