TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) Receives $5.63 Average PT from Analysts

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) has been assigned an average rating of “Reduce” from the six brokerages that are currently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $5.6250.

Several brokerages have commented on TPVG. Piper Sandler lowered their price target on TriplePoint Venture Growth BDC from $6.00 to $5.50 and set a “neutral” rating on the stock in a report on Tuesday, April 7th. Zacks Research upgraded TriplePoint Venture Growth BDC from a “strong sell” rating to a “hold” rating in a report on Friday, May 15th. Wells Fargo & Company lowered their price target on 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. Keefe, Bruyette & Woods lowered their price target on TriplePoint Venture Growth BDC from $7.00 to $6.50 and set a “market perform” rating on the stock in a report on Thursday, March 5th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of TriplePoint Venture Growth BDC in a report on Tuesday, June 9th.

Hedge Funds Weigh In On TriplePoint Venture Growth BDC

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Kovack Advisors Inc. grew its holdings in TriplePoint Venture Growth BDC by 13.1% during the fourth quarter. Kovack Advisors Inc. now owns 59,383 shares of the investment management company’s stock valued at $388,000 after purchasing an additional 6,864 shares during the last quarter. Millennium Management LLC boosted its position in shares of TriplePoint Venture Growth BDC by 20.3% in the fourth quarter. Millennium Management LLC now owns 28,036 shares of the investment management company’s stock valued at $183,000 after acquiring an additional 4,729 shares during the period. O Shaughnessy Asset Management LLC boosted its position in shares of TriplePoint Venture Growth BDC by 13.8% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 24,152 shares of the investment management company’s stock valued at $158,000 after acquiring an additional 2,921 shares during the period. Verition Fund Management LLC boosted its position in shares of TriplePoint Venture Growth BDC by 14.1% in the third quarter. Verition Fund Management LLC now owns 22,677 shares of the investment management company’s stock valued at $131,000 after acquiring an additional 2,800 shares during the period. Finally, Cetera Investment Advisers boosted its position in shares of TriplePoint Venture Growth BDC by 15.7% in the first quarter. Cetera Investment Advisers now owns 54,299 shares of the investment management company’s stock valued at $271,000 after acquiring an additional 7,355 shares during the period. Institutional investors and hedge funds own 12.77% of the company’s stock.

TriplePoint Venture Growth BDC Stock Up 0.1%

Shares of TPVG opened at $4.70 on Wednesday. The company’s fifty day moving average is $5.41 and its 200-day moving average is $5.65. TriplePoint Venture Growth BDC has a 12 month low of $4.48 and a 12 month high of $7.50. The firm has a market cap of $190.94 million, a price-to-earnings ratio of 4.44 and a beta of 1.27.

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

TriplePoint Venture Growth BDC Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 19.6%. The ex-dividend date is Tuesday, June 16th. TriplePoint Venture Growth BDC’s dividend payout ratio (DPR) is 86.79%.

TriplePoint Venture Growth BDC Company Profile

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.