TriplePoint Venture Growth BDC (NYSE:TPVG) Hits New 12-Month High at $16.24

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG)’s share price hit a new 52-week high on Wednesday . The stock traded as high as $16.24 and last traded at $16.24, with a volume of 153500 shares trading hands. The stock had previously closed at $16.11.

Several analysts have recently weighed in on TPVG shares. Oppenheimer started coverage on shares of TriplePoint Venture Growth BDC in a research report on Wednesday, May 19th. They set a “market perform” rating on the stock. Zacks Investment Research lowered shares of TriplePoint Venture Growth BDC from a “hold” rating to a “strong sell” rating in a research report on Saturday, May 8th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company’s stock. TriplePoint Venture Growth BDC presently has a consensus rating of “Hold” and a consensus target price of $12.25.

The stock has a market capitalization of $511.68 million, a PE ratio of 9.79, a P/E/G ratio of 2.71 and a beta of 1.89. The business’s fifty day moving average price is $15.40.

TriplePoint Venture Growth BDC (NYSE:TPVG) last announced its earnings results on Wednesday, May 5th. The investment management company reported $0.29 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.38 by ($0.09). TriplePoint Venture Growth BDC had a return on equity of 11.01% and a net margin of 57.89%. The company had revenue of $19.97 million during the quarter. On average, research analysts predict that TriplePoint Venture Growth BDC Corp. will post 1.4 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 30th. Shareholders of record on Wednesday, June 16th will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 8.70%. The ex-dividend date is Tuesday, June 15th. TriplePoint Venture Growth BDC’s dividend payout ratio is presently 91.72%.

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Morgan Stanley raised its stake in shares of TriplePoint Venture Growth BDC by 27.6% in the first quarter. Morgan Stanley now owns 198,336 shares of the investment management company’s stock worth $2,866,000 after acquiring an additional 42,896 shares during the last quarter. IHT Wealth Management LLC raised its stake in shares of TriplePoint Venture Growth BDC by 17.2% during the first quarter. IHT Wealth Management LLC now owns 18,829 shares of the investment management company’s stock worth $272,000 after buying an additional 2,765 shares during the last quarter. Virtus ETF Advisers LLC raised its stake in shares of TriplePoint Venture Growth BDC by 11.2% during the first quarter. Virtus ETF Advisers LLC now owns 32,164 shares of the investment management company’s stock worth $465,000 after buying an additional 3,232 shares during the last quarter. Quadrature Capital Ltd bought a new stake in shares of TriplePoint Venture Growth BDC during the first quarter worth approximately $149,000. Finally, Hennion & Walsh Asset Management Inc. bought a new stake in shares of TriplePoint Venture Growth BDC during the first quarter worth approximately $1,409,000. 24.96% of the stock is owned by institutional investors.

About TriplePoint Venture Growth BDC (NYSE:TPVG)

TriplePoint Venture Growth BDC Corp is a business development company specializing investments in growth stage. It also provides debt financing to venture growth space companies which includes growth capital loans, equipment financings, revolving loans, and direct equity investments. The fund seeks to invest in e-commerce, entertainment, technology and life sciences sector.

Featured Story: Stock Market – What is a circuit breaker?

Receive News & Ratings for TriplePoint Venture Growth BDC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TriplePoint Venture Growth BDC and related companies with MarketBeat.com's FREE daily email newsletter.