TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) Receives $5.25 Average PT from Analysts

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) has been given a consensus recommendation of “Reduce” by the six ratings firms that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $5.25.

TPVG has been the topic of several recent analyst reports. Zacks Research upgraded shares of TriplePoint Venture Growth BDC from a “strong sell” rating to a “hold” rating in a report on Friday, May 15th. Piper Sandler decreased their price objective on TriplePoint Venture Growth BDC from $5.50 to $5.00 and set a “neutral” rating for the company in a report on Monday, July 13th. Keefe, Bruyette & Woods reduced 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 report on Thursday, August 6th. Finally, Weiss Ratings raised TriplePoint Venture Growth BDC from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, August 13th.

Institutional Trading of TriplePoint Venture Growth BDC

Hedge funds have recently added to or reduced their stakes in the company. Bank of America Corp DE acquired a new stake in TriplePoint Venture Growth BDC during the second quarter valued at $620,000. Legal & General Group Plc acquired a new position in shares of TriplePoint Venture Growth BDC in the second quarter worth about $1,597,000. BlackRock Inc. purchased a new stake in shares of TriplePoint Venture Growth BDC during the 2nd quarter worth about $754,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its stake in shares of TriplePoint Venture Growth BDC by 19.9% during 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 in the last quarter. Finally, Attessa Capital LLC acquired a new stake in shares of TriplePoint Venture Growth BDC during the 2nd quarter valued at about $67,000. 12.77% of the stock is owned by hedge funds and other institutional investors.

TriplePoint Venture Growth BDC Stock Performance

Shares of TPVG opened at $5.46 on Thursday. The company has a 50 day moving average price of $4.90 and a 200-day moving average price of $5.23. TriplePoint Venture Growth BDC has a fifty-two week low of $4.39 and a fifty-two week high of $6.95. The stock has a market capitalization of $222.28 million, a PE ratio of 5.52 and a beta of 1.28.

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 (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.02. TriplePoint Venture Growth BDC had a net margin of 44.58% and a return on equity of 10.68%. The firm had revenue of $24.48 million for the quarter, compared to the consensus estimate of $22.88 million. Equities research analysts forecast that TriplePoint Venture Growth BDC will post 0.94 EPS for the current year.

TriplePoint Venture Growth BDC Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 30th. Investors of record on Wednesday, December 16th will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 4.4%. The ex-dividend date is Wednesday, December 16th. TriplePoint Venture Growth BDC’s payout ratio is currently 92.93%.

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.