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

Shares of TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) have been given a consensus rating of “Reduce” by the six research firms that are presently covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a sell recommendation and three have assigned a hold recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $5.6250.

TPVG has been the subject of a number of analyst reports. Piper Sandler cut their price objective on shares of TriplePoint Venture Growth BDC from $6.00 to $5.50 and set a “neutral” rating for the company in a research report on Tuesday, April 7th. Weiss Ratings lowered shares of TriplePoint Venture Growth BDC from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, March 12th. Keefe, Bruyette & Woods cut their price objective on shares of TriplePoint Venture Growth BDC from $7.00 to $6.50 and set a “market perform” rating for the company in a research report on Thursday, March 5th. Wells Fargo & Company cut their price objective on shares of 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, Zacks Research lowered shares of TriplePoint Venture Growth BDC from a “hold” rating to a “strong sell” rating in a research report on Thursday, April 16th.

Hedge Funds Weigh In On TriplePoint Venture Growth BDC

Institutional investors have recently modified their holdings of the company. Jane Street Group LLC increased its position in TriplePoint Venture Growth BDC by 28.1% during the first quarter. Jane Street Group LLC now owns 67,693 shares of the investment management company’s stock worth $472,000 after purchasing an additional 14,865 shares during the last quarter. Northwestern Mutual Wealth Management Co. acquired a new position in TriplePoint Venture Growth BDC during the second quarter worth approximately $35,000. Marshall Wace LLP increased its position in TriplePoint Venture Growth BDC by 44.9% during the second quarter. Marshall Wace LLP now owns 529,201 shares of the investment management company’s stock worth $3,710,000 after purchasing an additional 163,916 shares during the last quarter. Osaic Holdings Inc. increased its position in TriplePoint Venture Growth BDC by 75.6% during the second quarter. Osaic Holdings Inc. now owns 35,945 shares of the investment management company’s stock worth $252,000 after purchasing an additional 15,478 shares during the last quarter. Finally, Meridian Wealth Management LLC acquired a new position in TriplePoint Venture Growth BDC during the third quarter worth approximately $173,000. Institutional investors and hedge funds own 12.77% of the company’s stock.

TriplePoint Venture Growth BDC Price Performance

Shares of NYSE TPVG opened at $5.61 on Tuesday. TriplePoint Venture Growth BDC has a 12-month low of $4.48 and a 12-month high of $7.53. The company has a market capitalization of $226.95 million, a PE ratio of 4.56 and a beta of 1.28. The firm’s 50-day moving average is $5.19 and its two-hundred day moving average is $5.80.

TriplePoint Venture Growth BDC (NYSE:TPVG) last announced its quarterly earnings results on Wednesday, March 4th. The investment management company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.01). TriplePoint Venture Growth BDC had a net margin of 54.12% and a return on equity of 12.04%. The business had revenue of $25.96 million during the quarter, compared to analysts’ expectations of $23.78 million. On average, analysts forecast that TriplePoint Venture Growth BDC will post 0.95 EPS for the current fiscal year.

TriplePoint Venture Growth BDC Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th were given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 16.4%. The ex-dividend date of this dividend was Tuesday, March 17th. TriplePoint Venture Growth BDC’s payout ratio is currently 74.80%.

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.