Keefe, Bruyette & Woods Cuts TriplePoint Venture Growth BDC (NYSE:TPVG) Price Target to $5.50

TriplePoint Venture Growth BDC (NYSE:TPVG) had its price target cut by Keefe, Bruyette & Woods from $6.00 to $5.50 in a research report sent to investors on Thursday morning,Benzinga reports. They currently have a market perform rating on the investment management company’s stock.

TPVG has been the topic of several other reports. Weiss Ratings restated a “sell (d+)” rating on shares of TriplePoint Venture Growth BDC in a report on Tuesday, June 9th. Zacks Research upgraded 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 price objective on TriplePoint Venture Growth BDC from $5.50 to $5.00 and set a “neutral” rating on the stock in a report on Monday, July 13th. Four equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, TriplePoint Venture Growth BDC currently has a consensus rating of “Reduce” and a consensus price target of $5.25.

TriplePoint Venture Growth BDC Stock Down 0.9%

Shares of TPVG opened at $5.18 on Thursday. The firm has a market cap of $211.08 million, a price-to-earnings ratio of 5.24 and a beta of 1.28. The company’s fifty day moving average is $4.91 and its 200-day moving average is $5.29. TriplePoint Venture Growth BDC has a 12 month low of $4.39 and a 12 month high of $6.95.

TriplePoint Venture Growth BDC (NYSE:TPVG) last released its quarterly earnings data on Wednesday, August 5th. The investment management company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.02. The business had revenue of $24.48 million during the quarter, compared to analyst estimates 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, research analysts predict that TriplePoint Venture Growth BDC will post 0.98 earnings per share for the current fiscal year.

TriplePoint Venture Growth BDC Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 30th. Investors of record on Wednesday, December 16th will be paid a $0.06 dividend. The ex-dividend date is Wednesday, December 16th. This represents a $0.24 dividend on an annualized basis and a yield of 4.6%. TriplePoint Venture Growth BDC’s dividend payout ratio (DPR) is presently 92.93%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Summit Securities Group LLC grew its position in shares of TriplePoint Venture Growth BDC by 257.1% in the first quarter. Summit Securities Group LLC now owns 5,000 shares of the investment management company’s stock valued at $25,000 after purchasing an additional 3,600 shares during the last quarter. Advisory Services Network LLC acquired a new position in shares of TriplePoint Venture Growth BDC during the 3rd quarter worth about $33,000. Northwestern Mutual Wealth Management Co. acquired a new position in shares of TriplePoint Venture Growth BDC during the 2nd quarter worth about $35,000. Rockefeller Capital Management L.P. lifted its position in shares of TriplePoint Venture Growth BDC by 75.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 7,000 shares of the investment management company’s stock worth $46,000 after purchasing an additional 3,000 shares during the last quarter. Finally, Farmers & Merchants Investments Inc. boosted its stake in TriplePoint Venture Growth BDC by 221.7% during the 4th quarter. Farmers & Merchants Investments Inc. now owns 10,293 shares of the investment management company’s stock valued at $67,000 after purchasing an additional 7,093 shares during the period. Institutional investors and hedge funds 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.