TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) Receives $5.50 Consensus Price Target from Analysts

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) has been given an average rating of “Reduce” by the six research firms that are covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell recommendation and four have assigned a hold recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $5.50.

A number of equities analysts have weighed in on the company. Weiss Ratings reiterated a “sell (d+)” rating on shares of TriplePoint Venture Growth BDC in a research note on Tuesday, June 9th. Piper Sandler cut their price objective on TriplePoint Venture Growth BDC from $5.50 to $5.00 and set a “neutral” rating for the company in a research note on Monday, July 13th. Finally, Zacks Research upgraded shares of TriplePoint Venture Growth BDC from a “strong sell” rating to a “hold” rating in a research report on Friday, May 15th.

Hedge Funds Weigh In On TriplePoint Venture Growth BDC

Hedge funds have recently bought and sold shares of the company. Summit Securities Group LLC boosted its stake in shares of TriplePoint Venture Growth BDC by 257.1% in the 1st quarter. Summit Securities Group LLC now owns 5,000 shares of the investment management company’s stock valued at $25,000 after buying an additional 3,600 shares during the period. Advisory Services Network LLC purchased a new stake in shares of TriplePoint Venture Growth BDC in the 3rd quarter valued at about $33,000. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of TriplePoint Venture Growth BDC in the second quarter valued at approximately $35,000. Rockefeller Capital Management L.P. grew its position in TriplePoint Venture Growth BDC by 75.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 7,000 shares of the investment management company’s stock worth $46,000 after purchasing an additional 3,000 shares during the last quarter. Finally, Attessa Capital LLC acquired a new position in TriplePoint Venture Growth BDC in the 2nd quarter valued at about $67,000. Institutional investors and hedge funds own 12.77% of the company’s stock.

TriplePoint Venture Growth BDC Trading Up 0.9%

TPVG opened at $4.46 on Friday. The business’s fifty day simple moving average is $5.09 and its 200-day simple moving average is $5.42. TriplePoint Venture Growth BDC has a 12-month low of $4.39 and a 12-month high of $7.28. The company has a market capitalization of $181.07 million, a price-to-earnings ratio of 4.21 and a beta of 1.28.

TriplePoint Venture Growth BDC (NYSE:TPVG) last posted its earnings results on Wednesday, May 6th. The investment management company reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.02). TriplePoint Venture Growth BDC had a net margin of 46.77% and a return on equity of 11.54%. The company had revenue of $19.81 million during the quarter, compared to analysts’ expectations of $23.14 million. On average, equities research analysts predict that TriplePoint Venture Growth BDC will post 0.95 EPS for the current year.

TriplePoint Venture Growth BDC Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 20.6%. The ex-dividend date of this dividend was Tuesday, June 16th. TriplePoint Venture Growth BDC’s dividend payout ratio is 86.79%.

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.