TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) Receives $8.79 Consensus Price Target from Brokerages

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) has received an average recommendation of “Reduce” from the six research firms that are covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $8.25.

TPVG has been the subject of several recent research reports. LADENBURG THALM/SH SH lowered shares of TriplePoint Venture Growth BDC from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $8.50 to $8.00 in a research report on Friday, August 9th. Wells Fargo & Company reissued an “underweight” rating and issued a $8.50 price objective (down from $9.50) on shares of TriplePoint Venture Growth BDC in a research report on Wednesday, May 29th. Keefe, Bruyette & Woods decreased their target price on TriplePoint Venture Growth BDC from $9.00 to $8.00 and set an “underperform” rating for the company in a research report on Friday, August 9th. Finally, Piper Sandler dropped their target price on TriplePoint Venture Growth BDC from $9.50 to $8.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th.

Insider Buying and Selling

In other TriplePoint Venture Growth BDC news, President Sajal Srivastava acquired 11,298 shares of the company’s stock in a transaction on Monday, August 12th. The shares were bought at an average cost of $7.02 per share, for a total transaction of $79,311.96. Following the acquisition, the president now directly owns 250,858 shares of the company’s stock, valued at $1,761,023.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.01% of the company’s stock.

Hedge Funds Weigh In On TriplePoint Venture Growth BDC

Several large investors have recently modified their holdings of TPVG. CWM LLC raised its stake in TriplePoint Venture Growth BDC by 127.5% during the fourth quarter. CWM LLC now owns 2,275 shares of the investment management company’s stock valued at $25,000 after buying an additional 1,275 shares in the last quarter. Quarry LP increased its holdings in shares of TriplePoint Venture Growth BDC by 43.7% in the 4th quarter. Quarry LP now owns 3,143 shares of the investment management company’s stock valued at $34,000 after acquiring an additional 956 shares during the last quarter. EverSource Wealth Advisors LLC acquired a new stake in shares of TriplePoint Venture Growth BDC during the 2nd quarter valued at approximately $62,000. Cape Investment Advisory Inc. bought a new position in TriplePoint Venture Growth BDC during the fourth quarter worth $79,000. Finally, Farmers & Merchants Investments Inc. boosted its holdings in TriplePoint Venture Growth BDC by 116.9% in the first quarter. Farmers & Merchants Investments Inc. now owns 9,833 shares of the investment management company’s stock worth $93,000 after purchasing an additional 5,300 shares during the period. Institutional investors own 12.77% of the company’s stock.

TriplePoint Venture Growth BDC Trading Up 0.4 %

Shares of TriplePoint Venture Growth BDC stock opened at $7.49 on Friday. The business’s fifty day moving average price is $8.17 and its 200 day moving average price is $9.16. TriplePoint Venture Growth BDC has a twelve month low of $6.89 and a twelve month high of $11.58. The stock has a market capitalization of $299.23 million, a P/E ratio of -6.75 and a beta of 1.78.

TriplePoint Venture Growth BDC (NYSE:TPVG) last released its quarterly earnings data on Wednesday, August 7th. The investment management company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.10). The firm had revenue of $27.11 million during the quarter, compared to analyst estimates of $28.77 million. TriplePoint Venture Growth BDC had a negative net margin of 8.03% and a positive return on equity of 18.24%. During the same period in the prior year, the firm earned $0.53 earnings per share. As a group, sell-side analysts predict that TriplePoint Venture Growth BDC will post 1.4 EPS for the current year.

TriplePoint Venture Growth BDC Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 16.02%. The ex-dividend date of this dividend is Monday, September 16th. TriplePoint Venture Growth BDC’s payout ratio is -144.14%.

TriplePoint Venture Growth BDC Company Profile

TriplePoint Venture Growth BDC Corp. is a business development company specializing investments in venture capital-backed companies at the growth stage investments. It also provides debt financing to venture growth space companies which includes growth capital loans, secured and customized loans, equipment financings, revolving loans and direct equity investments.