TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) Receives $8.25 Average PT from Analysts

Shares of TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) have been assigned an average recommendation of “Reduce” from the six analysts that are covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating and four have given a hold rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $8.25.

TPVG has been the subject of a number of analyst reports. Keefe, Bruyette & Woods decreased their price objective on TriplePoint Venture Growth BDC from $9.00 to $8.00 and set an “underperform” rating for the company in a research note on Friday, August 9th. LADENBURG THALM/SH SH downgraded shares of TriplePoint Venture Growth BDC from a “buy” rating to a “neutral” rating and cut their price target for the company from $8.50 to $8.00 in a research report on Friday, August 9th. Finally, Piper Sandler lowered their target price on shares of TriplePoint Venture Growth BDC from $9.50 to $8.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th.

TriplePoint Venture Growth BDC Trading Up 0.5 %

Shares of NYSE:TPVG opened at $6.67 on Friday. The stock has a market capitalization of $266.47 million, a P/E ratio of -22.23 and a beta of 1.79. TriplePoint Venture Growth BDC has a 1-year low of $6.60 and a 1-year high of $11.58. The business has a 50-day moving average price of $7.28 and a two-hundred day moving average price of $8.39.

TriplePoint Venture Growth BDC (NYSE:TPVG) last announced its quarterly earnings data on Wednesday, August 7th. The investment management company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.10). The business had revenue of $27.11 million during the quarter, compared to the consensus estimate of $28.77 million. TriplePoint Venture Growth BDC had a negative net margin of 8.03% and a positive return on equity of 18.24%. During the same period in the previous year, the business posted $0.53 earnings per share. As a group, equities analysts predict that TriplePoint Venture Growth BDC will post 1.4 EPS for the current year.

TriplePoint Venture Growth BDC Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were issued a $0.30 dividend. The ex-dividend date was Monday, September 16th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 17.99%. TriplePoint Venture Growth BDC’s dividend payout ratio (DPR) is presently -399.99%.

Insider Transactions at TriplePoint Venture Growth BDC

In other TriplePoint Venture Growth BDC news, President Sajal Srivastava bought 11,298 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The stock was acquired at an average price of $7.02 per share, with a total value of $79,311.96. Following the completion of the transaction, the president now owns 250,858 shares in the company, valued at approximately $1,761,023.16. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.01% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Quarry LP bought a new stake in shares of TriplePoint Venture Growth BDC during the 2nd quarter worth approximately $35,000. Millennium Management LLC raised its position in TriplePoint Venture Growth BDC by 169.5% during the second quarter. Millennium Management LLC now owns 432,206 shares of the investment management company’s stock worth $3,471,000 after acquiring an additional 271,824 shares in the last quarter. Marshall Wace LLP acquired a new stake in TriplePoint Venture Growth BDC in the second quarter valued at $1,486,000. Magnetar Financial LLC bought a new position in shares of TriplePoint Venture Growth BDC in the 2nd quarter valued at about $297,000. Finally, EverSource Wealth Advisors LLC acquired a new position in shares of TriplePoint Venture Growth BDC during the 2nd quarter worth about $62,000. 12.77% of the stock is currently owned by institutional investors.

TriplePoint Venture Growth BDC Company Profile

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.