Analysts Set TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) Price Target at $9.55

Shares of TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) have received an average recommendation of “Reduce” from the five ratings firms that are covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation and three have given a hold recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $9.55.

TPVG has been the subject of several recent analyst reports. Wells Fargo & Company reissued an “underweight” rating and set a $8.50 price objective (down from $9.50) on shares of TriplePoint Venture Growth BDC in a report on Wednesday, May 29th. Keefe, Bruyette & Woods reissued an “underperform” rating and issued a $9.00 price objective on shares of TriplePoint Venture Growth BDC in a report on Tuesday, June 18th.

Hedge Funds Weigh In On TriplePoint Venture Growth BDC

Several institutional investors have recently modified their holdings of the company. International Assets Investment Management LLC grew its holdings in TriplePoint Venture Growth BDC by 1,066.7% during the fourth quarter. International Assets Investment Management LLC now owns 1,265,136 shares of the investment management company’s stock worth $13,739,000 after acquiring an additional 1,156,701 shares during the period. Norden Group LLC raised its position in TriplePoint Venture Growth BDC by 739.7% during the first quarter. Norden Group LLC now owns 125,020 shares of the investment management company’s stock valued at $1,185,000 after acquiring an additional 110,132 shares in the last quarter. Van ECK Associates Corp boosted its holdings in TriplePoint Venture Growth BDC by 12.6% in the fourth quarter. Van ECK Associates Corp now owns 661,530 shares of the investment management company’s stock worth $7,185,000 after purchasing an additional 73,924 shares in the last quarter. Quadrature Capital Ltd bought a new position in shares of TriplePoint Venture Growth BDC in the 4th quarter valued at approximately $655,000. Finally, Paloma Partners Management Co bought a new position in shares of TriplePoint Venture Growth BDC in the first quarter valued at approximately $184,000. Institutional investors own 12.77% of the company’s stock.

TriplePoint Venture Growth BDC Stock Up 0.7 %

TPVG opened at $8.99 on Tuesday. The firm’s 50 day moving average is $8.78 and its 200-day moving average is $9.62. TriplePoint Venture Growth BDC has a 52-week low of $7.91 and a 52-week high of $12.70. The firm has a market capitalization of $340.24 million, a P/E ratio of -8.10 and a beta of 1.78.

TriplePoint Venture Growth BDC (NYSE:TPVG) last issued its quarterly earnings data on Wednesday, May 1st. The investment management company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.03). The firm had revenue of $29.27 million during the quarter, compared to analyst estimates of $31.25 million. TriplePoint Venture Growth BDC had a positive return on equity of 19.64% and a negative net margin of 29.68%. During the same quarter in the prior year, the firm earned $0.53 EPS. Equities analysts expect that TriplePoint Venture Growth BDC will post 1.58 earnings per share for the current fiscal year.

TriplePoint Venture Growth BDC Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $1.60 dividend on an annualized basis and a yield of 17.80%. TriplePoint Venture Growth BDC’s dividend payout ratio is currently -144.14%.

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.