Analysts Set TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) Price Target at $8.25

Shares of TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) have been given a consensus rating of “Reduce” by the six ratings firms that are presently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation and four have given a hold recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $8.25.

A number of research analysts recently commented on TPVG shares. Piper Sandler lowered their price target on shares of TriplePoint Venture Growth BDC from $9.50 to $8.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. LADENBURG THALM/SH SH downgraded TriplePoint Venture Growth BDC from a “buy” rating to a “neutral” rating and cut their target price for the company from $8.50 to $8.00 in a research report on Friday, August 9th. Finally, Keefe, Bruyette & Woods reduced their price objective on shares of TriplePoint Venture Growth BDC from $9.00 to $8.00 and set an “underperform” rating on the stock in a research report on Friday, August 9th.

TriplePoint Venture Growth BDC Trading Down 0.1 %

Shares of TPVG opened at $6.65 on Friday. TriplePoint Venture Growth BDC has a 12-month low of $6.60 and a 12-month high of $11.58. The company has a market capitalization of $265.47 million, a PE ratio of -5.99 and a beta of 1.79. The business’s 50 day moving average is $7.31 and its 200 day moving average is $8.41.

TriplePoint Venture Growth BDC (NYSE:TPVG) last announced its quarterly earnings results on Wednesday, August 7th. The investment management company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.10). The company had revenue of $27.11 million during the quarter, compared to the consensus estimate of $28.77 million. TriplePoint Venture Growth BDC had a negative net margin of 8.03% and a positive return on equity of 18.24%. During the same quarter in the prior year, the firm posted $0.53 earnings per share. Equities research analysts predict that TriplePoint Venture Growth BDC will post 1.4 earnings per share for the current year.

TriplePoint Venture Growth BDC Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were paid a $0.30 dividend. The ex-dividend date was Monday, September 16th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 18.06%. TriplePoint Venture Growth BDC’s payout ratio is currently -108.11%.

Insider Buying and Selling at TriplePoint Venture Growth BDC

In other news, President Sajal Srivastava acquired 11,298 shares of the business’s stock in a transaction on Monday, August 12th. The stock was bought at an average price of $7.02 per share, with a total value of $79,311.96. Following the completion of the acquisition, the president now owns 250,858 shares of the company’s stock, valued at approximately $1,761,023.16. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.01% of the company’s stock.

Institutional Trading of TriplePoint Venture Growth BDC

Large investors have recently made changes to their positions in the company. Quarry LP increased its holdings in shares of TriplePoint Venture Growth BDC by 43.7% in the fourth quarter. Quarry LP now owns 3,143 shares of the investment management company’s stock valued at $34,000 after purchasing an additional 956 shares during the last quarter. Commonwealth Equity Services LLC increased its stake in TriplePoint Venture Growth BDC by 4.5% during the 2nd quarter. Commonwealth Equity Services LLC now owns 31,132 shares of the investment management company’s stock worth $250,000 after buying an additional 1,346 shares during the period. Norden Group LLC boosted its holdings in TriplePoint Venture Growth BDC by 20.0% in the first quarter. Norden Group LLC now owns 17,860 shares of the investment management company’s stock valued at $169,000 after purchasing an additional 2,972 shares during the period. U.S. Capital Wealth Advisors LLC grew its position in shares of TriplePoint Venture Growth BDC by 19.4% during the second quarter. U.S. Capital Wealth Advisors LLC now owns 19,064 shares of the investment management company’s stock worth $153,000 after buying an additional 3,100 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. increased its position in shares of TriplePoint Venture Growth BDC by 10.2% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 48,852 shares of the investment management company’s stock valued at $511,000 after purchasing an additional 4,512 shares during the last quarter. 12.77% of the stock is currently owned by hedge funds and other institutional investors.

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.