TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) Receives $5.63 Consensus Target Price from Analysts

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) has been assigned an average rating of “Reduce” from the six analysts that are covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating and four have issued a hold rating on the company. The average 12 month target price among analysts that have covered the stock in the last year is $5.6250.

Several brokerages recently commented on TPVG. Piper Sandler reduced their target price on shares of TriplePoint Venture Growth BDC from $6.00 to $5.50 and set a “neutral” rating for the company in a report on Tuesday, April 7th. 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. Weiss Ratings restated a “sell (d+)” rating on shares of TriplePoint Venture Growth BDC in a report on Tuesday, June 9th. Wells Fargo & Company reduced their target price on shares of TriplePoint Venture Growth BDC from $5.50 to $5.00 and set an “underweight” rating for the company in a report on Thursday, March 5th. Finally, Keefe, Bruyette & Woods reduced their target price on shares of TriplePoint Venture Growth BDC from $7.00 to $6.50 and set a “market perform” rating for the company in a report on Thursday, March 5th.

TriplePoint Venture Growth BDC Stock Up 2.1%

Shares of TPVG stock opened at $4.93 on Wednesday. The firm has a fifty day moving average of $5.39 and a 200-day moving average of $5.63. TriplePoint Venture Growth BDC has a 12-month low of $4.48 and a 12-month high of $7.50. The company has a market capitalization of $200.20 million, a price-to-earnings ratio of 4.65 and a beta of 1.27.

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

TriplePoint Venture Growth BDC Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th were issued a dividend of $0.23 per share. The ex-dividend date was Tuesday, June 16th. This represents a $0.92 annualized dividend and a yield of 18.7%. TriplePoint Venture Growth BDC’s dividend payout ratio is presently 86.79%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Two Sigma Investments LP lifted its stake in TriplePoint Venture Growth BDC by 58.6% in the third quarter. Two Sigma Investments LP now owns 612,727 shares of the investment management company’s stock valued at $3,535,000 after acquiring an additional 226,479 shares during the last quarter. Marshall Wace LLP lifted its stake in TriplePoint Venture Growth BDC by 44.9% in the second quarter. Marshall Wace LLP now owns 529,201 shares of the investment management company’s stock valued at $3,710,000 after acquiring an additional 163,916 shares during the last quarter. Trexquant Investment LP lifted its stake in TriplePoint Venture Growth BDC by 48.1% in the fourth quarter. Trexquant Investment LP now owns 190,996 shares of the investment management company’s stock valued at $1,249,000 after acquiring an additional 62,023 shares during the last quarter. Norden Group LLC lifted its stake in TriplePoint Venture Growth BDC by 150.1% in the fourth quarter. Norden Group LLC now owns 174,090 shares of the investment management company’s stock valued at $1,139,000 after acquiring an additional 104,492 shares during the last quarter. Finally, Jane Street Group LLC lifted its stake in TriplePoint Venture Growth BDC by 7.3% in the second quarter. Jane Street Group LLC now owns 72,663 shares of the investment management company’s stock valued at $509,000 after acquiring an additional 4,970 shares during the last quarter. Institutional investors and hedge funds own 12.77% of the company’s stock.

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.