Brokerages Set TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) PT at $5.25

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) has received an average rating of “Reduce” from the six research firms that are presently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell rating and four have given a hold rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $5.25.

Several research firms have commented on TPVG. Zacks Research raised shares of TriplePoint Venture Growth BDC from a “strong sell” rating to a “hold” rating in a research report on Friday, May 15th. Weiss Ratings cut TriplePoint Venture Growth BDC from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, September 1st. Keefe, Bruyette & Woods lowered their price objective on TriplePoint Venture Growth BDC from $6.00 to $5.50 and set a “market perform” rating on the stock in a report on Thursday, August 6th. Finally, Piper Sandler cut their price objective on TriplePoint Venture Growth BDC from $5.50 to $5.00 and set a “neutral” rating on the stock in a research note on Monday, July 13th.

TriplePoint Venture Growth BDC Stock Performance

Shares of NYSE TPVG opened at $5.15 on Monday. The business has a 50 day simple moving average of $5.00 and a 200 day simple moving average of $5.18. TriplePoint Venture Growth BDC has a 52 week low of $4.39 and a 52 week high of $6.95. The stock has a market cap of $209.66 million, a price-to-earnings ratio of 5.20 and a beta of 1.31.

TriplePoint Venture Growth BDC (NYSE:TPVG) last issued its quarterly earnings data on Wednesday, August 5th. The investment management company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.02. The firm had revenue of $24.48 million for the quarter, compared to analyst estimates of $22.88 million. TriplePoint Venture Growth BDC had a net margin of 44.58% and a return on equity of 10.68%. On average, analysts predict that TriplePoint Venture Growth BDC will post 0.94 EPS for the current year.

TriplePoint Venture Growth BDC Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 30th. Shareholders of record on Wednesday, December 16th will be issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 4.7%. The ex-dividend date is Wednesday, December 16th. TriplePoint Venture Growth BDC’s dividend payout ratio (DPR) is 92.93%.

Institutional Trading of TriplePoint Venture Growth BDC

A number of institutional investors and hedge funds have recently modified their holdings of the company. Legal & General Group Plc bought a new stake in shares of TriplePoint Venture Growth BDC during the 2nd quarter worth $1,597,000. BlackRock Inc. bought a new position in TriplePoint Venture Growth BDC in the 2nd quarter worth $754,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its holdings in TriplePoint Venture Growth BDC by 19.9% in the 2nd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 14,659 shares of the investment management company’s stock worth $72,000 after acquiring an additional 2,435 shares during the period. Cetera Investment Advisers lifted its position in TriplePoint Venture Growth BDC by 15.7% during the 1st quarter. Cetera Investment Advisers now owns 54,299 shares of the investment management company’s stock worth $271,000 after acquiring an additional 7,355 shares during the last quarter. Finally, Oxford Asset Management LLP acquired a new position in TriplePoint Venture Growth BDC during the 4th quarter worth $74,000. 12.77% of the stock is currently owned by institutional investors and hedge funds.

About TriplePoint Venture Growth BDC

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.