TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) Receives Average Rating of “Hold” from Analysts

Shares of TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) have received an average recommendation of “Hold” from the six analysts that are presently covering the firm, Marketbeat reports. Six equities research analysts have rated the stock with a hold recommendation. The average 1-year price target among analysts that have issued a report on the stock in the last year is $7.70.

Several equities analysts recently issued reports on TPVG shares. Keefe, Bruyette & Woods raised shares of TriplePoint Venture Growth BDC from an “underperform” rating to a “market perform” rating and cut their price target for the company from $8.00 to $7.50 in a report on Thursday, November 7th. Wells Fargo & Company raised their price target on TriplePoint Venture Growth BDC from $6.50 to $7.50 and gave the company an “equal weight” rating in a report on Tuesday, November 19th. StockNews.com upgraded shares of TriplePoint Venture Growth BDC from a “sell” rating to a “hold” rating in a research report on Friday, November 15th. Piper Sandler cut their price target on shares of TriplePoint Venture Growth BDC from $8.00 to $7.50 and set a “neutral” rating on the stock in a research report on Thursday, November 7th. Finally, Compass Point raised their price objective on TriplePoint Venture Growth BDC from $7.50 to $8.00 and gave the stock a “neutral” rating in a research note on Thursday, December 5th.

TriplePoint Venture Growth BDC Price Performance

NYSE TPVG opened at $7.61 on Tuesday. TriplePoint Venture Growth BDC has a 52-week low of $6.44 and a 52-week high of $11.58. The firm has a market capitalization of $304.58 million, a price-to-earnings ratio of 36.22 and a beta of 1.88. The company’s fifty day moving average is $7.75 and its two-hundred day moving average is $7.57.

TriplePoint Venture Growth BDC (NYSE:TPVG) last issued its earnings results on Wednesday, November 6th. The investment management company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.01. TriplePoint Venture Growth BDC had a net margin of 9.01% and a return on equity of 16.86%. The business had revenue of $26.52 million for the quarter, compared to analyst estimates of $25.65 million. During the same period in the previous year, the business earned $0.54 EPS. As a group, sell-side analysts expect that TriplePoint Venture Growth BDC will post 1.4 earnings per share for the current fiscal year.

TriplePoint Venture Growth BDC Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 15.78%. The ex-dividend date was Friday, December 13th. TriplePoint Venture Growth BDC’s dividend payout ratio (DPR) is currently 571.46%.

Institutional Trading of TriplePoint Venture Growth BDC

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Millennium Management LLC increased its holdings in TriplePoint Venture Growth BDC by 169.5% during the second quarter. Millennium Management LLC now owns 432,206 shares of the investment management company’s stock worth $3,471,000 after buying an additional 271,824 shares during the last quarter. International Assets Investment Management LLC grew its holdings in TriplePoint Venture Growth BDC by 435.6% in the 3rd quarter. International Assets Investment Management LLC now owns 107,630 shares of the investment management company’s stock valued at $760,000 after buying an additional 87,535 shares in the last quarter. Jane Street Group LLC raised its stake in TriplePoint Venture Growth BDC by 712.4% in the 3rd quarter. Jane Street Group LLC now owns 104,997 shares of the investment management company’s stock worth $741,000 after purchasing an additional 92,072 shares in the last quarter. Marshall Wace LLP acquired a new stake in shares of TriplePoint Venture Growth BDC in the second quarter valued at approximately $1,486,000. Finally, BNP Paribas Financial Markets lifted its position in shares of TriplePoint Venture Growth BDC by 214.3% during the 3rd 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 during the period. Institutional investors and hedge funds own 12.77% of the company’s stock.

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.