TriplePoint Venture Growth BDC (NYSE:TPVG) Announces Earnings Results

TriplePoint Venture Growth BDC (NYSE:TPVG) announced its quarterly earnings results on Wednesday. The investment management company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.10), Zacks reports. The business had revenue of $27.11 million for the quarter, compared to analysts’ expectations of $28.77 million. TriplePoint Venture Growth BDC had a positive return on equity of 19.64% and a negative net margin of 29.68%. During the same period last year, the firm earned $0.53 earnings per share.

TriplePoint Venture Growth BDC Stock Down 3.5 %

TPVG stock traded down $0.26 during trading on Friday, hitting $7.21. The company had a trading volume of 1,208,630 shares, compared to its average volume of 365,028. The firm has a market cap of $272.90 million, a PE ratio of -6.50 and a beta of 1.78. TriplePoint Venture Growth BDC has a 1-year low of $7.10 and a 1-year high of $11.58. The firm has a 50-day moving average price of $8.55 and a 200-day moving average price of $9.43.

TriplePoint Venture Growth BDC Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 16.64%. The ex-dividend date is Monday, September 16th. TriplePoint Venture Growth BDC’s dividend payout ratio (DPR) is presently -144.14%.

Analysts Set New Price Targets

A number of analysts have issued reports on TPVG shares. Keefe, Bruyette & Woods decreased their price target on TriplePoint Venture Growth BDC from $9.00 to $8.00 and set an “underperform” rating for the company in a report on Friday. Piper Sandler decreased their price target on TriplePoint Venture Growth BDC from $9.50 to $8.00 and set a “neutral” rating for the company in a report on Thursday. LADENBURG THALM/SH SH cut TriplePoint Venture Growth BDC from a “buy” rating to a “neutral” rating and cut their target price for the stock from $8.50 to $8.00 in a research report on Friday. Finally, Wells Fargo & Company reiterated an “underweight” rating and set a $8.50 target price (down previously from $9.50) on shares of TriplePoint Venture Growth BDC in a research report on Wednesday, May 29th. Three equities research analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $8.79.

About TriplePoint Venture Growth BDC

TriplePoint Venture Growth BDC Corp. is a business development company specializing investments in venture capital-backed companies at the growth stage investments. It also provides debt financing to venture growth space companies which includes growth capital loans, secured and customized loans, equipment financings, revolving loans and direct equity investments.