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

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) has been given an average rating of “Reduce” by the six research firms that are presently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating and four have issued a hold rating on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $5.6250.

A number of research analysts have recently weighed in on TPVG shares. Wells Fargo & Company cut their price target on shares of TriplePoint Venture Growth BDC from $5.50 to $5.00 and set an “underweight” rating on the stock in a report on Thursday, March 5th. Weiss Ratings lowered shares of TriplePoint Venture Growth BDC from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, March 12th. Keefe, Bruyette & Woods lowered their target price on shares of TriplePoint Venture Growth BDC from $7.00 to $6.50 and set a “market perform” rating on the stock in a research note on Thursday, March 5th. Zacks Research upgraded shares of TriplePoint Venture Growth BDC from a “strong sell” rating to a “hold” rating in a research note on Friday, May 15th. Finally, Piper Sandler lowered their target price on shares of TriplePoint Venture Growth BDC from $6.00 to $5.50 and set a “neutral” rating on the stock in a research note on Tuesday, April 7th.

TriplePoint Venture Growth BDC Trading Down 2.8%

TriplePoint Venture Growth BDC stock opened at $5.39 on Friday. The company has a market capitalization of $218.63 million, a P/E ratio of 5.08 and a beta of 1.27. The firm’s fifty day simple moving average is $5.36 and its 200-day simple moving average is $5.80. TriplePoint Venture Growth BDC has a 1-year low of $4.48 and a 1-year high of $7.53.

TriplePoint Venture Growth BDC (NYSE:TPVG) last released its quarterly earnings results on Wednesday, May 6th. The investment management company reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.02). The business had revenue of $19.81 million for the quarter, compared to the consensus estimate of $23.14 million. TriplePoint Venture Growth BDC had a net margin of 46.77% and a return on equity of 11.54%. On average, equities research analysts predict that TriplePoint Venture Growth BDC will post 0.95 earnings per share for the current year.

TriplePoint Venture Growth BDC Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th will be paid a $0.23 dividend. The ex-dividend date is Tuesday, June 16th. This represents a $0.92 dividend on an annualized basis and a yield of 17.1%. TriplePoint Venture Growth BDC’s dividend payout ratio (DPR) is presently 86.79%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of TPVG. Jane Street Group LLC grew its stake in TriplePoint Venture Growth BDC by 28.1% in the 1st quarter. Jane Street Group LLC now owns 67,693 shares of the investment management company’s stock valued at $472,000 after buying an additional 14,865 shares during the last quarter. Northwestern Mutual Wealth Management Co. acquired a new position in TriplePoint Venture Growth BDC in the 2nd quarter valued at $35,000. Marshall Wace LLP grew its position in TriplePoint Venture Growth BDC by 44.9% in the 2nd quarter. Marshall Wace LLP now owns 529,201 shares of the investment management company’s stock worth $3,710,000 after purchasing an additional 163,916 shares during the last quarter. Osaic Holdings Inc. grew its position in TriplePoint Venture Growth BDC by 75.6% in the 2nd quarter. Osaic Holdings Inc. now owns 35,945 shares of the investment management company’s stock worth $252,000 after purchasing an additional 15,478 shares during the last quarter. Finally, Meridian Wealth Management LLC acquired a new stake in TriplePoint Venture Growth BDC in the 3rd quarter worth $173,000. 12.77% of the stock is currently owned by institutional investors and hedge funds.

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.