TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) Given Average Rating of “Reduce” by Analysts

Shares of TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) have been given an average recommendation of “Reduce” by the six analysts that are covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation and four have assigned a hold recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $8.25.

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

Insider Buying and Selling

In related news, President Sajal Srivastava acquired 11,298 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were purchased at an average price of $7.02 per share, for a total transaction of $79,311.96. Following the completion of the acquisition, the president now owns 250,858 shares of the company’s stock, valued at $1,761,023.16. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 0.01% of the stock is owned by insiders.

Institutional Investors Weigh In On TriplePoint Venture Growth BDC

Several hedge funds and other institutional investors have recently modified their holdings of the company. Quarry LP lifted 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 worth $34,000 after purchasing an additional 956 shares in the last quarter. Commonwealth Equity Services LLC grew its holdings in shares of TriplePoint Venture Growth BDC by 4.5% during the second quarter. Commonwealth Equity Services LLC now owns 31,132 shares of the investment management company’s stock valued at $250,000 after buying an additional 1,346 shares during the last quarter. Norden Group LLC increased its position in shares of TriplePoint Venture Growth BDC by 20.0% during the first quarter. Norden Group LLC now owns 17,860 shares of the investment management company’s stock worth $169,000 after acquiring an additional 2,972 shares in the last quarter. U.S. Capital Wealth Advisors LLC raised its holdings in shares of TriplePoint Venture Growth BDC by 19.4% in the 2nd quarter. U.S. Capital Wealth Advisors LLC now owns 19,064 shares of the investment management company’s stock worth $153,000 after acquiring an additional 3,100 shares during the last quarter. Finally, L.M. Kohn & Company lifted its position in TriplePoint Venture Growth BDC by 37.3% in the 4th quarter. L.M. Kohn & Company now owns 15,101 shares of the investment management company’s stock valued at $164,000 after acquiring an additional 4,103 shares in the last quarter. Institutional investors own 12.77% of the company’s stock.

TriplePoint Venture Growth BDC Price Performance

TPVG opened at $7.14 on Wednesday. The company’s 50 day moving average price is $7.90 and its two-hundred day moving average price is $8.72. The firm has a market capitalization of $270.22 million, a price-to-earnings ratio of -6.43 and a beta of 1.79. TriplePoint Venture Growth BDC has a fifty-two week low of $6.89 and a fifty-two week high of $11.58.

TriplePoint Venture Growth BDC (NYSE:TPVG) last posted its quarterly earnings data on Wednesday, August 7th. The investment management company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.10). The company 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 quarter in the previous year, the company earned $0.53 earnings per share. As a group, equities research analysts predict that TriplePoint Venture Growth BDC will post 1.4 EPS for the current year.

TriplePoint Venture Growth BDC Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be given a dividend of $0.30 per share. The ex-dividend date is Monday, September 16th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 16.81%. TriplePoint Venture Growth BDC’s payout ratio is presently -108.11%.

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.