TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) Receives Average Recommendation of “Reduce” from Brokerages

Shares of TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) have been given a consensus recommendation of “Reduce” by the five ratings firms that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation and four have given a hold recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $10.38.

TPVG has been the subject of a number of recent research reports. Compass Point upgraded shares of TriplePoint Venture Growth BDC from a “sell” rating to a “neutral” rating and set a $8.75 price target for the company in a research note on Friday, March 22nd. Keefe, Bruyette & Woods decreased their price target on shares of TriplePoint Venture Growth BDC from $9.50 to $9.00 and set an “underperform” rating for the company in a research note on Thursday, March 7th. Piper Sandler decreased their price target on shares of TriplePoint Venture Growth BDC from $11.00 to $10.00 and set a “neutral” rating for the company in a research note on Thursday, March 7th. StockNews.com downgraded shares of TriplePoint Venture Growth BDC from a “hold” rating to a “sell” rating in a research note on Thursday, March 7th. Finally, JMP Securities reiterated a “market perform” rating on shares of TriplePoint Venture Growth BDC in a research note on Thursday, March 7th.

Hedge Funds Weigh In On TriplePoint Venture Growth BDC

Institutional investors have recently modified their holdings of the business. International Assets Investment Management LLC increased its holdings in shares of TriplePoint Venture Growth BDC by 1,066.7% in the 4th quarter. International Assets Investment Management LLC now owns 1,265,136 shares of the investment management company’s stock valued at $13,739,000 after acquiring an additional 1,156,701 shares during the period. Dfpg Investments LLC purchased a new position in TriplePoint Venture Growth BDC in the 4th quarter valued at $116,000. Virtus ETF Advisers LLC grew its position in TriplePoint Venture Growth BDC by 100.7% in the 3rd quarter. Virtus ETF Advisers LLC now owns 81,440 shares of the investment management company’s stock valued at $852,000 after buying an additional 40,855 shares during the last quarter. Raymond James & Associates grew its position in TriplePoint Venture Growth BDC by 30.1% in the 3rd quarter. Raymond James & Associates now owns 28,761 shares of the investment management company’s stock valued at $301,000 after buying an additional 6,660 shares during the last quarter. Finally, Sigma Planning Corp grew its position in TriplePoint Venture Growth BDC by 27.3% in the 3rd quarter. Sigma Planning Corp now owns 76,661 shares of the investment management company’s stock valued at $802,000 after buying an additional 16,451 shares during the last quarter. 12.77% of the stock is owned by institutional investors and hedge funds.

TriplePoint Venture Growth BDC Stock Performance

NYSE TPVG opened at $9.14 on Friday. The firm has a 50 day simple moving average of $9.88 and a 200-day simple moving average of $10.30. TriplePoint Venture Growth BDC has a one year low of $8.88 and a one year high of $12.70. The firm has a market cap of $343.85 million, a price-to-earnings ratio of -8.31 and a beta of 1.77.

TriplePoint Venture Growth BDC (NYSE:TPVG) last posted its quarterly earnings data on Wednesday, March 6th. The investment management company reported $0.47 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.02). TriplePoint Venture Growth BDC had a negative net margin of 28.96% and a positive return on equity of 19.50%. The business had revenue of $32.97 million during the quarter, compared to analysts’ expectations of $33.38 million. Equities analysts predict that TriplePoint Venture Growth BDC will post 1.69 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, March 29th. Stockholders of record on Thursday, March 14th were issued a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 17.51%. TriplePoint Venture Growth BDC’s payout ratio is -145.45%.

About TriplePoint Venture Growth BDC

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.