TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) Receives $9.55 Average Price Target from Brokerages

Shares of TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) have earned an average recommendation of “Reduce” from the five ratings firms that are presently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating and three have given a hold rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $9.55.

A number of equities research analysts have recently commented on the company. Compass Point upgraded TriplePoint Venture Growth BDC from a “sell” rating to a “neutral” rating and set a $8.75 price objective for the company in a research report on Friday, March 22nd. Piper Sandler decreased their price target on TriplePoint Venture Growth BDC from $11.00 to $10.00 and set a “neutral” rating for the company in a research report on Thursday, March 7th. Wells Fargo & Company restated an “underweight” rating and set a $8.50 price objective (down previously from $9.50) on shares of TriplePoint Venture Growth BDC in a report on Wednesday, May 29th. StockNews.com cut shares of TriplePoint Venture Growth BDC from a “hold” rating to a “sell” rating in a report on Thursday, March 7th. Finally, JMP Securities restated a “market perform” rating on shares of TriplePoint Venture Growth BDC in a report on Thursday, March 7th.

Hedge Funds Weigh In On TriplePoint Venture Growth BDC

Institutional investors and hedge funds have recently bought and sold shares of the business. CWM LLC grew its stake in TriplePoint Venture Growth BDC by 127.5% during the 4th quarter. CWM LLC now owns 2,275 shares of the investment management company’s stock valued at $25,000 after acquiring an additional 1,275 shares in the last quarter. Quarry LP grew its stake in TriplePoint Venture Growth BDC by 43.7% during 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 in the last quarter. Farmers & Merchants Investments Inc. grew its stake in TriplePoint Venture Growth BDC by 94.3% during the 4th quarter. Farmers & Merchants Investments Inc. now owns 4,533 shares of the investment management company’s stock valued at $49,000 after acquiring an additional 2,200 shares in the last quarter. Cape Investment Advisory Inc. purchased a new position in TriplePoint Venture Growth BDC during the 4th quarter valued at about $79,000. Finally, Hartline Investment Corp purchased a new position in TriplePoint Venture Growth BDC during the 1st quarter valued at about $98,000. Hedge funds and other institutional investors own 12.77% of the company’s stock.

TriplePoint Venture Growth BDC Stock Performance

Shares of TriplePoint Venture Growth BDC stock opened at $8.05 on Friday. TriplePoint Venture Growth BDC has a 52 week low of $7.91 and a 52 week high of $12.70. The stock has a market cap of $304.66 million, a PE ratio of -7.25 and a beta of 1.78. The company’s 50-day moving average price is $9.03 and its two-hundred day moving average price is $9.89.

TriplePoint Venture Growth BDC (NYSE:TPVG) last announced its quarterly earnings data on Wednesday, May 1st. The investment management company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.03). TriplePoint Venture Growth BDC had a positive return on equity of 19.64% and a negative net margin of 29.68%. The business had revenue of $29.27 million during the quarter, compared to analyst estimates of $31.25 million. During the same period in the prior year, the firm earned $0.53 EPS. On average, equities analysts predict that TriplePoint Venture Growth BDC will post 1.58 EPS for the current fiscal year.

TriplePoint Venture Growth BDC Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $1.60 annualized dividend and a yield of 19.88%. TriplePoint Venture Growth BDC’s dividend payout ratio (DPR) is presently -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.