TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) Stock Has Consensus Target Price of $5.17

Shares of TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) have been assigned an average recommendation of “Reduce” from the five brokerages that are covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation and three have given a hold recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $5.17.

Several research analysts have recently commented on TPVG shares. Piper Sandler lowered their target price on shares of TriplePoint Venture Growth BDC from $5.50 to $5.00 and set a “neutral” rating on the stock in a report on Monday, July 13th. Weiss Ratings downgraded shares of TriplePoint Venture Growth BDC from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, October 8th. Finally, Keefe, Bruyette & Woods cut their price target on TriplePoint Venture Growth BDC from $6.00 to $5.50 and set a “market perform” rating for the company in a research note on Thursday, August 6th.

TriplePoint Venture Growth BDC Stock Performance

TPVG stock opened at $4.55 on Tuesday. TriplePoint Venture Growth BDC has a 52 week low of $4.15 and a 52 week high of $6.95. The company has a market capitalization of $185.11 million, a PE ratio of 4.69 and a beta of 1.37. The company’s 50-day simple moving average is $4.87 and its 200 day simple moving average is $5.22.

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, topping the consensus estimate of $0.24 by $0.02. The business had revenue of $22.15 million during the quarter, compared to analysts’ expectations 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 forecast that TriplePoint Venture Growth BDC will post 0.89 EPS for the current year.

TriplePoint Venture Growth BDC Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 30th. Shareholders of record on Wednesday, December 16th will be paid a dividend of $0.06 per share. This is a drop from TriplePoint Venture Growth BDC’s previous quarterly dividend of $0.29. The ex-dividend date is Wednesday, December 16th. This represents a $0.24 dividend on an annualized basis and a yield of 5.3%. TriplePoint Venture Growth BDC’s dividend payout ratio is 92.93%.

Insider Buying and Selling at TriplePoint Venture Growth BDC

In other news, insider Sajal Srivastava sold 313,865 shares of the company’s stock in a transaction on Friday, September 18th. The stock was sold at an average price of $4.71, for a total transaction of $1,478,304.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO James Labe bought 313,865 shares of TriplePoint Venture Growth BDC stock in a transaction dated Friday, September 18th. The shares were bought at an average cost of $4.71 per share, for a total transaction of $1,478,304.15. Following the completion of the acquisition, the chief executive officer owned 2,312,354 shares in the company, valued at $10,891,187.34. This represents a 15.71% increase in their position. The SEC filing for this purchase provides additional information. 1.55% of the stock is owned by insiders.

Institutional Investors Weigh In On TriplePoint Venture Growth BDC

Institutional investors and hedge funds have recently bought and sold shares of the company. Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased 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 valued at $72,000 after buying an additional 2,435 shares during the period. Rockefeller Capital Management L.P. raised its position in shares of TriplePoint Venture Growth BDC by 75.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 7,000 shares of the investment management company’s stock valued at $46,000 after buying an additional 3,000 shares in the last quarter. Summit Securities Group LLC raised its position 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 in the last quarter. Cetera Investment Advisers lifted its holdings in shares of 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 period. Finally, Attessa Capital LLC bought a new stake in shares of TriplePoint Venture Growth BDC during the 2nd quarter worth approximately $67,000. Institutional investors own 12.77% of the company’s stock.

TriplePoint Venture Growth BDC Company Profile

TriplePoint Venture Growth BDC Corp. is a business development company that provides financing to venture growth-stage companies. The company primarily invests in businesses backed by venture capital or private equity sponsors, with an emphasis on companies that have developed products or services and are seeking capital to support expansion, acquisitions, working capital and other corporate purposes.

Its investment portfolio is focused largely on companies in technology, life sciences and other high-growth industries.