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

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) has been given a consensus recommendation of “Reduce” by the six analysts that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating and five have issued a hold rating on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $5.25.

Several analysts recently issued reports on the company. Zacks Research raised TriplePoint Venture Growth BDC from a “strong sell” rating to a “hold” rating in a research note on Friday, May 15th. Piper Sandler dropped their price objective on TriplePoint Venture Growth BDC from $5.50 to $5.00 and set a “neutral” rating for the company in a report on Monday, July 13th. Weiss Ratings raised TriplePoint Venture Growth BDC from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday. Finally, Keefe, Bruyette & Woods cut their target price on shares of TriplePoint Venture Growth BDC from $6.00 to $5.50 and set a “market perform” rating on the stock in a research report on Thursday, August 6th.

TriplePoint Venture Growth BDC Stock Performance

TPVG stock opened at $5.49 on Thursday. The firm has a 50 day moving average price of $4.90 and a 200-day moving average price of $5.24. The firm has a market capitalization of $223.50 million, a price-to-earnings ratio of 5.55 and a beta of 1.28. TriplePoint Venture Growth BDC has a 52-week low of $4.39 and a 52-week high of $6.95.

TriplePoint Venture Growth BDC (NYSE:TPVG) last posted its quarterly earnings results on Wednesday, August 5th. The investment management company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.02. The firm had revenue of $24.48 million for the quarter, compared to analysts’ expectations of $22.88 million. TriplePoint Venture Growth BDC had a net margin of 44.58% and a return on equity of 10.68%. As a group, sell-side analysts forecast that TriplePoint Venture Growth BDC will post 0.94 earnings per share for the current fiscal year.

TriplePoint Venture Growth BDC Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 30th. Shareholders of record on Wednesday, December 16th will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 4.4%. The ex-dividend date is Wednesday, December 16th. TriplePoint Venture Growth BDC’s payout ratio is 92.93%.

Institutional Trading of TriplePoint Venture Growth BDC

Hedge funds and other institutional investors have recently made changes to their positions in the business. HRT Financial LP acquired a new position in shares of TriplePoint Venture Growth BDC during the fourth quarter valued at about $297,000. CANADA LIFE ASSURANCE Co raised its holdings in shares of TriplePoint Venture Growth BDC by 35.5% during the third quarter. CANADA LIFE ASSURANCE Co now owns 51,515 shares of the investment management company’s stock worth $296,000 after purchasing an additional 13,490 shares during the last quarter. Osaic Holdings Inc. boosted its stake in shares of TriplePoint Venture Growth BDC by 75.6% in the second quarter. Osaic Holdings Inc. now owns 35,945 shares of the investment management company’s stock worth $252,000 after buying an additional 15,478 shares during the last quarter. Aquatic Capital Management LLC boosted its position in TriplePoint Venture Growth BDC by 251.3% in the 3rd quarter. Aquatic Capital Management LLC now owns 41,137 shares of the investment management company’s stock worth $237,000 after purchasing an additional 29,427 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC boosted its holdings in TriplePoint Venture Growth BDC by 13.8% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 24,152 shares of the investment management company’s stock worth $158,000 after buying an additional 2,921 shares in the last quarter. Hedge funds and other institutional investors own 12.77% of the company’s stock.

About TriplePoint Venture Growth BDC

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.