TriplePoint Venture Growth BDC (NYSE:TPVG) Upgraded at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods upgraded shares of TriplePoint Venture Growth BDC (NYSE:TPVG) from an underperform rating to a market perform rating in a research note published on Thursday morning, MarketBeat reports. They currently have $7.50 price target on the investment management company’s stock, down from their previous price target of $8.00.

Several other brokerages have also weighed in on TPVG. Piper Sandler decreased their target price 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. LADENBURG THALM/SH SH lowered shares of TriplePoint Venture Growth BDC from a “buy” rating to a “neutral” rating and decreased their target price for the company from $8.50 to $8.00 in a research report on Friday, August 9th. Finally, Wells Fargo & Company reduced their price target on shares of TriplePoint Venture Growth BDC from $8.00 to $6.50 and set an “underweight” rating on the stock in a research report on Tuesday, October 29th. Two research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. Based on data from MarketBeat, TriplePoint Venture Growth BDC has a consensus rating of “Hold” and an average target price of $7.65.

TriplePoint Venture Growth BDC Stock Performance

NYSE:TPVG opened at $7.87 on Thursday. The firm’s 50-day moving average is $7.00 and its 200-day moving average is $8.04. TriplePoint Venture Growth BDC has a 52-week low of $6.44 and a 52-week high of $11.58. The company has a market cap of $315.19 million, a price-to-earnings ratio of 37.48 and a beta of 1.80.

TriplePoint Venture Growth BDC (NYSE:TPVG) last posted its quarterly earnings data on Wednesday, November 6th. The investment management company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.01. TriplePoint Venture Growth BDC had a net margin of 9.01% and a return on equity of 16.86%. The company had revenue of $26.52 million for the quarter, compared to the consensus estimate of $25.65 million. During the same quarter in the previous year, the firm posted $0.54 EPS. Equities analysts predict that TriplePoint Venture Growth BDC will post 1.4 EPS for the current year.

TriplePoint Venture Growth BDC Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be given a dividend of $0.30 per share. The ex-dividend date is Friday, December 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 15.25%. TriplePoint Venture Growth BDC’s payout ratio is 571.46%.

Insider Transactions at TriplePoint Venture Growth BDC

In other TriplePoint Venture Growth BDC news, President Sajal Srivastava purchased 11,298 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was acquired at an average cost of $7.02 per share, with a total value of $79,311.96. Following the completion of the purchase, the president now directly owns 250,858 shares in the company, valued at approximately $1,761,023.16. This represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.01% of the stock is owned by company insiders.

Institutional Investors Weigh In On TriplePoint Venture Growth BDC

A number of institutional investors and hedge funds have recently modified their holdings of the business. Commonwealth Equity Services LLC raised its stake 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 worth $250,000 after buying an additional 1,346 shares during the last quarter. Kovack Advisors Inc. raised its stake in shares of TriplePoint Venture Growth BDC by 7.8% during the third quarter. Kovack Advisors Inc. now owns 37,100 shares of the investment management company’s stock worth $262,000 after buying an additional 2,700 shares during the last quarter. Norden Group LLC raised its stake 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 buying an additional 2,972 shares during the last quarter. U.S. Capital Wealth Advisors LLC raised its stake in shares of TriplePoint Venture Growth BDC by 19.4% during the second quarter. U.S. Capital Wealth Advisors LLC now owns 19,064 shares of the investment management company’s stock worth $153,000 after buying an additional 3,100 shares during the last quarter. Finally, Diversify Advisory Services LLC raised its stake in shares of TriplePoint Venture Growth BDC by 31.2% during the third quarter. Diversify Advisory Services LLC now owns 14,191 shares of the investment management company’s stock worth $94,000 after buying an additional 3,378 shares during the last quarter. 12.77% of the stock is owned by institutional investors.

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.