TriplePoint Venture Growth BDC (NYSE:TPVG) Upgraded by Zacks Research to “Hold” Rating

Zacks Research upgraded shares of TriplePoint Venture Growth BDC (NYSE:TPVG) from a strong sell rating to a hold rating in a report issued on Monday morning,Zacks.com reports.

Other equities analysts have also issued reports about the stock. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of TriplePoint Venture Growth BDC in a research report on Monday. Wall Street Zen raised shares of TriplePoint Venture Growth BDC from a “sell” rating to a “hold” rating in a report on Saturday. UBS Group cut their target price on TriplePoint Venture Growth BDC from $6.50 to $5.50 and set a “neutral” rating on the stock in a research report on Tuesday, October 14th. Finally, Piper Sandler lowered their price target on TriplePoint Venture Growth BDC from $7.00 to $6.00 and set a “neutral” rating for the company in a research report on Thursday, October 9th. Five research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $6.25.

TriplePoint Venture Growth BDC Stock Up 0.7%

NYSE TPVG opened at $6.73 on Monday. TriplePoint Venture Growth BDC has a 52 week low of $5.24 and a 52 week high of $8.32. The company has a 50 day moving average price of $5.88 and a 200 day moving average price of $6.44. The firm has a market cap of $271.69 million, a PE ratio of 7.91 and a beta of 1.35.

TriplePoint Venture Growth BDC (NYSE:TPVG) last released its quarterly earnings results on Wednesday, November 5th. The investment management company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.03). The firm had revenue of $22.66 million during the quarter, compared to analysts’ expectations of $24.22 million. TriplePoint Venture Growth BDC had a return on equity of 12.88% and a net margin of 36.02%. On average, equities research 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 Tuesday, December 30th. Shareholders of record on Tuesday, December 16th will be issued a $0.23 dividend. The ex-dividend date of this dividend is Tuesday, December 16th. This represents a $0.92 dividend on an annualized basis and a yield of 13.7%. TriplePoint Venture Growth BDC’s payout ratio is presently 108.24%.

Insider Activity

In other TriplePoint Venture Growth BDC news, insider Sajal Srivastava acquired 47,741 shares of the business’s stock in a transaction dated Friday, December 5th. The stock was acquired at an average cost of $6.81 per share, for a total transaction of $325,116.21. Following the completion of the transaction, the insider directly owned 1,318,220 shares of the company’s stock, valued at $8,977,078.20. This represents a 3.76% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO James Labe bought 47,741 shares of the firm’s stock in a transaction dated Friday, December 5th. The shares were acquired at an average price of $6.81 per share, for a total transaction of $325,116.21. Following the transaction, the chief executive officer directly owned 1,318,220 shares in the company, valued at approximately $8,977,078.20. This represents a 3.76% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders have bought 1,094,234 shares of company stock worth $6,857,384. Corporate insiders own 1.46% of the company’s stock.

Hedge Funds Weigh In On TriplePoint Venture Growth BDC

A number of large investors have recently added to or reduced their stakes in the stock. Advisory Services Network LLC acquired a new stake in shares of TriplePoint Venture Growth BDC in the third quarter valued at about $33,000. CANADA LIFE ASSURANCE Co boosted its holdings in TriplePoint Venture Growth BDC by 35.5% in the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 51,515 shares of the investment management company’s stock worth $296,000 after buying an additional 13,490 shares during the last quarter. Verition Fund Management LLC raised its holdings in shares of TriplePoint Venture Growth BDC by 14.1% during the third quarter. Verition Fund Management LLC now owns 22,677 shares of the investment management company’s stock valued at $131,000 after acquiring an additional 2,800 shares during the last quarter. Millennium Management LLC purchased a new position in shares of TriplePoint Venture Growth BDC in the third quarter valued at approximately $134,000. Finally, Brevan Howard Capital Management LP acquired a new stake in shares of TriplePoint Venture Growth BDC in the third quarter worth approximately $165,000. 12.77% of the stock is currently owned by institutional investors and hedge funds.

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.