TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) Given Consensus Recommendation of “Reduce” by Brokerages

Shares of TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) have been assigned an average recommendation of “Reduce” from the seven brokerages that are currently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $6.05.

Several equities research analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of TriplePoint Venture Growth BDC from a “sell” rating to a “hold” rating in a report on Saturday, December 6th. Zacks Research raised shares of TriplePoint Venture Growth BDC from a “strong sell” rating to a “hold” rating in a research report on Monday, December 8th. Weiss Ratings downgraded shares of TriplePoint Venture Growth BDC from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday. Wells Fargo & Company dropped their target price on TriplePoint Venture Growth BDC from $5.50 to $5.00 and set an “underweight” rating for the company in a research report on Thursday, March 5th. Finally, Keefe, Bruyette & Woods cut their target price on TriplePoint Venture Growth BDC from $7.00 to $6.50 and set a “market perform” rating on the stock in a research note on Thursday, March 5th.

TriplePoint Venture Growth BDC Stock Performance

Shares of TriplePoint Venture Growth BDC stock opened at $5.11 on Monday. The stock has a market cap of $206.70 million, a price-to-earnings ratio of 4.15 and a beta of 1.37. The stock has a 50 day moving average price of $5.90 and a 200-day moving average price of $6.04. TriplePoint Venture Growth BDC has a one year low of $5.03 and a one year high of $7.53.

TriplePoint Venture Growth BDC (NYSE:TPVG) last issued its quarterly earnings results on Wednesday, March 4th. The investment management company reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01). The company had revenue of $3.42 million during the quarter, compared to the consensus estimate of $23.78 million. TriplePoint Venture Growth BDC had a return on equity of 12.04% and a net margin of 54.12%. Sell-side analysts predict that TriplePoint Venture Growth BDC will post 1.4 earnings per share for the current fiscal year.

TriplePoint Venture Growth BDC Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th will be issued a dividend of $0.23 per share. The ex-dividend date is Tuesday, March 17th. This represents a $0.92 dividend on an annualized basis and a yield of 18.0%. TriplePoint Venture Growth BDC’s payout ratio is presently 74.80%.

Insider Buying and Selling at TriplePoint Venture Growth BDC

In other TriplePoint Venture Growth BDC news, insider Sajal Srivastava bought 40,000 shares of TriplePoint Venture Growth BDC stock in a transaction on Monday, January 5th. The shares were acquired at an average price of $6.70 per share, for a total transaction of $268,000.00. Following the completion of the purchase, the insider directly owned 1,876,980 shares in the company, valued at approximately $12,575,766. This trade represents a 2.18% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO James Labe bought 40,000 shares of the firm’s stock in a transaction dated Monday, January 5th. The shares were acquired at an average price of $6.70 per share, with a total value of $268,000.00. Following the completion of the transaction, the chief executive officer owned 1,876,980 shares of the company’s stock, valued at approximately $12,575,766. The trade was a 2.18% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders acquired a total of 1,019,282 shares of company stock worth $6,540,106 in the last ninety days. 1.55% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On TriplePoint Venture Growth BDC

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TPVG. Connor Clark & Lunn Investment Management Ltd. bought a new position in TriplePoint Venture Growth BDC in the 2nd quarter worth about $131,000. Royal Bank of Canada raised its stake in shares of TriplePoint Venture Growth BDC by 19.5% during the fourth quarter. Royal Bank of Canada now owns 23,196 shares of the investment management company’s stock valued at $152,000 after acquiring an additional 3,783 shares in the last quarter. Squarepoint Ops LLC bought a new stake in shares of TriplePoint Venture Growth BDC during the fourth quarter valued at approximately $121,000. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of TriplePoint Venture Growth BDC in the second quarter valued at approximately $35,000. Finally, Farmers & Merchants Investments Inc. boosted its holdings in shares of TriplePoint Venture Growth BDC by 221.7% in the fourth quarter. Farmers & Merchants Investments Inc. now owns 10,293 shares of the investment management company’s stock valued at $67,000 after purchasing an additional 7,093 shares during the period. Institutional investors own 12.77% of the company’s stock.

TriplePoint Venture Growth BDC Company Profile

TriplePoint Venture Growth BDC Inc is a closed-end management investment company externally managed by TriplePoint Capital LLC. The firm specializes in providing customized debt and equity financing to growth-stage, venture capital– and private equity–backed companies. Its financing solutions include senior secured loans, unitranche facilities, subordinated debt and selective equity co-investments tailored to support expansion, working capital needs and strategic initiatives.

Launched in September 2018 and listed on the New York Stock Exchange under the symbol TPVG, TriplePoint Venture Growth BDC leverages the deep industry expertise and established underwriting capabilities of TriplePoint Capital, a venture lender since 2003.