TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) Receives Consensus Rating of "Reduce" from Brokerages

Key Points

• Analysts hold a “Reduce” consensus rating on TriplePoint Venture Growth BDC, with two sell ratings and four holds. The average 12-month price target is $5.25, near the stock’s reported $5.23 price.
• Recent analyst actions were generally cautious: Keefe, Bruyette & Woods and Piper Sandler lowered their price targets, while Weiss Ratings downgraded the stock to sell.
• TriplePoint exceeded quarterly expectations with earnings of $0.26 per share versus a $0.24 estimate and revenue of $24.48 million, but cut its quarterly dividend to $0.06 per share, equating to a 4.6% annualized yield.

Shares of TriplePoint Venture Growth BDC Corp. (NYSE:TPVG - Get Free Report) have been given an average recommendation of "Reduce" by the six ratings firms that are currently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $5.25.

TPVG has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods decreased their price target on shares of TriplePoint Venture Growth BDC from $6.00 to $5.50 and set a "market perform" rating on the stock in a report on Thursday, August 6th. Weiss Ratings cut TriplePoint Venture Growth BDC from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Tuesday, September 1st. Piper Sandler decreased their target price on TriplePoint Venture Growth BDC from $5.50 to $5.00 and set a "neutral" rating for the company in a research report on Monday, July 13th. Finally, Zacks Research upgraded TriplePoint Venture Growth BDC from a "strong sell" rating to a "hold" rating in a research note on Friday, May 15th.

Institutional Investors Weigh In On TriplePoint Venture Growth BDC

Several hedge funds have recently bought and sold shares of the business. Two Sigma Investments LP increased its stake in shares of TriplePoint Venture Growth BDC by 58.6% during the third quarter. Two Sigma Investments LP now owns 612,727 shares of the investment management company's stock valued at $3,535,000 after purchasing an additional 226,479 shares in the last quarter. Marshall Wace LLP raised its stake in TriplePoint Venture Growth BDC by 44.9% during the second quarter. Marshall Wace LLP now owns 529,201 shares of the investment management company's stock valued at $3,710,000 after buying an additional 163,916 shares during the last quarter. Legal & General Group Plc bought a new stake in TriplePoint Venture Growth BDC in the second quarter worth $1,597,000. Trexquant Investment LP grew its stake in shares of TriplePoint Venture Growth BDC by 48.1% in the fourth quarter. Trexquant Investment LP now owns 190,996 shares of the investment management company's stock worth $1,249,000 after acquiring an additional 62,023 shares during the last quarter. Finally, BlackRock Inc. purchased a new position in shares of TriplePoint Venture Growth BDC in the 2nd quarter worth about $754,000. Institutional investors own 12.77% of the company's stock.

TriplePoint Venture Growth BDC Price Performance

Shares of TriplePoint Venture Growth BDC stock opened at $5.23 on Monday. The firm has a market cap of $212.91 million, a PE ratio of 5.28 and a beta of 1.31. TriplePoint Venture Growth BDC has a 1 year low of $4.39 and a 1 year high of $6.95. The stock has a fifty day moving average price of $4.98 and a 200-day moving average price of $5.19.

TriplePoint Venture Growth BDC (NYSE:TPVG - Get Free Report) last issued its earnings results on Wednesday, August 5th. The investment management company reported $0.26 earnings per share for the quarter, topping analysts' consensus estimates of $0.24 by $0.02. The firm had revenue of $24.48 million during the quarter, compared to analyst estimates of $22.88 million. TriplePoint Venture Growth BDC had a net margin of 44.58% and a return on equity of 10.68%. As a group, equities analysts anticipate that TriplePoint Venture Growth BDC will post 0.94 EPS for the current fiscal year.

TriplePoint Venture Growth BDC Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 30th. Shareholders of record on Wednesday, December 16th will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Wednesday, December 16th. This represents a $0.24 annualized dividend and a yield of 4.6%. TriplePoint Venture Growth BDC's dividend payout ratio (DPR) is currently 92.93%.

About TriplePoint Venture Growth BDC

TriplePoint Venture Growth BDC Inc is a closed-end management investment company externally managed by TriplePoint Capital LLC. The firm specializes in providing customized debt and equity financing to growth-stage, venture capital– and private equity–backed companies. Its financing solutions include senior secured loans, unitranche facilities, subordinated debt and selective equity co-investments tailored to support expansion, working capital needs and strategic initiatives.

Launched in September 2018 and listed on the New York Stock Exchange under the symbol TPVG, TriplePoint Venture Growth BDC leverages the deep industry expertise and established underwriting capabilities of TriplePoint Capital, a venture lender since 2003.

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