TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Wednesday.

According to Zacks, “TriplePoint Venture Growth BDC Corp. is an externally managed, closed-end, non-diversified management investment company. The Company’s investment objective is to maximize its total return to stockholders primarily in the form of current income and, to a lesser extent, capital appreciation by primarily lending with warrants to venture growth stage companies focused in technology, life sciences and other high growth industries backed by a select group of leading venture capital investors. TriplePoint Venture Growth BDC Corp. is based in United States. “

Several other research analysts have also recently commented on the stock. Compass Point upgraded shares of TriplePoint Venture Growth BDC Corp. from a “neutral” rating to a “buy” rating and set a $12.30 target price for the company in a research report on Thursday, September 22nd. Janney Montgomery Scott assumed coverage on shares of TriplePoint Venture Growth BDC Corp. in a report on Wednesday, June 22nd. They issued a “neutral” rating and a $13.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $12.85.

Shares of TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) opened at 10.85 on Wednesday. The firm has a 50-day moving average price of $11.03 and a 200-day moving average price of $10.85. TriplePoint Venture Growth BDC Corp. has a one year low of $8.83 and a one year high of $12.65.

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) last posted its earnings results on Monday, August 8th. The investment management company reported $0.30 EPS for the quarter, missing the consensus estimate of $0.34 by $0.04. TriplePoint Venture Growth BDC Corp. had a positive return on equity of 9.91% and a negative net margin of 3.69%. On average, equities analysts predict that TriplePoint Venture Growth BDC Corp. will post $1.42 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 16th. Stockholders of record on Wednesday, August 31st were issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 13.27%. The ex-dividend date of this dividend was Monday, August 29th. TriplePoint Venture Growth BDC Corp.’s dividend payout ratio (DPR) is presently -1,309.09%.

In related news, insider Sajal Srivastava acquired 7,000 shares of the firm’s stock in a transaction dated Friday, September 9th. The stock was acquired at an average cost of $11.02 per share, for a total transaction of $77,140.00. Following the completion of the acquisition, the insider now directly owns 107,643 shares of the company’s stock, valued at approximately $1,186,225.86. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.27% of the stock is currently owned by insiders.

Several large investors have recently modified their holdings of the stock. Confluence Investment Management LLC increased its stake in shares of TriplePoint Venture Growth BDC Corp. by 14.3% in the second quarter. Confluence Investment Management LLC now owns 738,959 shares of the investment management company’s stock valued at $7,826,000 after buying an additional 92,202 shares during the period. Advisors Asset Management Inc. increased its stake in TriplePoint Venture Growth BDC Corp. by 8.7% in the second quarter. Advisors Asset Management Inc. now owns 908,230 shares of the investment management company’s stock worth $9,618,000 after buying an additional 72,691 shares during the last quarter. Guggenheim Capital LLC increased its stake in TriplePoint Venture Growth BDC Corp. by 52.8% in the second quarter. Guggenheim Capital LLC now owns 144,250 shares of the investment management company’s stock worth $1,528,000 after buying an additional 49,848 shares during the last quarter. Royal Bank of Canada increased its stake in TriplePoint Venture Growth BDC Corp. by 37.3% in the second quarter. Royal Bank of Canada now owns 74,299 shares of the investment management company’s stock worth $787,000 after buying an additional 20,183 shares during the last quarter. Finally, Nuveen Fund Advisors LLC bought a new stake in TriplePoint Venture Growth BDC Corp. during the second quarter worth about $203,000. Institutional investors and hedge funds own 54.41% of the company’s stock.

TriplePoint Venture Growth BDC Corp. Company Profile

TriplePoint Venture Growth BDC Corp. is a closed-end, non-diversified management investment company. The Company’s investment objective is to maximize its total return to stockholders primarily in the form of current income and, to a lesser extent, capital appreciation by primarily lending with warrants to venture growth stage companies focused in technology, life sciences and other high growth industries, which are backed by TriplePoint Capital LLC’s (TPC) select group of venture capital investors.

5 Day Chart for NYSE:TPVG

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