TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) Receives Average Recommendation of “Reduce” from Brokerages

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) has received a consensus recommendation of “Reduce” from the five analysts that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation and four have given a hold recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $7.45.

Several brokerages have commented on TPVG. Piper Sandler increased their price objective on shares of TriplePoint Venture Growth BDC from $7.50 to $8.00 and gave the company a “neutral” rating in a report on Thursday, March 6th. Wells Fargo & Company cut TriplePoint Venture Growth BDC from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $7.50 to $6.50 in a report on Monday, March 17th. Finally, Compass Point reduced their price objective on TriplePoint Venture Growth BDC from $8.00 to $7.25 and set a “neutral” rating on the stock in a research note on Tuesday, March 18th.

Hedge Funds Weigh In On TriplePoint Venture Growth BDC

Institutional investors and hedge funds have recently modified their holdings of the stock. Two Sigma Investments LP lifted its position in TriplePoint Venture Growth BDC by 21.9% in the fourth quarter. Two Sigma Investments LP now owns 678,034 shares of the investment management company’s stock worth $5,004,000 after buying an additional 122,039 shares during the last quarter. Jane Street Group LLC lifted its holdings in shares of TriplePoint Venture Growth BDC by 712.4% in the 3rd quarter. Jane Street Group LLC now owns 104,997 shares of the investment management company’s stock worth $741,000 after acquiring an additional 92,072 shares during the last quarter. Millennium Management LLC boosted its stake in shares of TriplePoint Venture Growth BDC by 180.1% during the 4th quarter. Millennium Management LLC now owns 120,602 shares of the investment management company’s stock worth $890,000 after purchasing an additional 77,551 shares during the period. Alpine Global Management LLC bought a new position in TriplePoint Venture Growth BDC during the 4th quarter valued at about $477,000. Finally, Trexquant Investment LP lifted its stake in TriplePoint Venture Growth BDC by 35.5% in the fourth quarter. Trexquant Investment LP now owns 227,039 shares of the investment management company’s stock worth $1,676,000 after purchasing an additional 59,462 shares during the last quarter. Hedge funds and other institutional investors own 12.77% of the company’s stock.

TriplePoint Venture Growth BDC Stock Down 0.5 %

NYSE TPVG opened at $7.10 on Monday. The business has a 50-day moving average price of $7.67 and a 200-day moving average price of $7.47. The firm has a market cap of $284.77 million, a price-to-earnings ratio of 33.79 and a beta of 1.90. TriplePoint Venture Growth BDC has a twelve month low of $6.44 and a twelve month high of $9.73.

TriplePoint Venture Growth BDC (NYSE:TPVG) last released its quarterly earnings data on Wednesday, March 5th. The investment management company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.03). The company had revenue of $25.75 million for the quarter, compared to the consensus estimate of $26.68 million. TriplePoint Venture Growth BDC had a net margin of 9.01% and a return on equity of 16.86%. Research analysts expect that TriplePoint Venture Growth BDC will post 1.4 EPS for the current fiscal year.

TriplePoint Venture Growth BDC Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $1.20 dividend on an annualized basis and a yield of 16.91%. TriplePoint Venture Growth BDC’s dividend payout ratio (DPR) is presently 146.34%.

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.