TriplePoint Venture Growth BDC Corp. (TPVG) - What Are Investment Firms Thinking About This Stock?

Key Points

• Analysts remain cautious on TPVG: The stock has an average “Reduce” rating from five firms, including two sell ratings, with an average 12-month price target of $5.17.
• The quarterly dividend was cut substantially to $0.06 per share from $0.29, resulting in an annualized dividend of $0.24 and a 5.6% yield.
• TPVG shares opened at $4.30, near their 52-week low of $4.15, despite the company reporting quarterly EPS of $0.26, above the $0.24 analyst consensus.

Shares of TriplePoint Venture Growth BDC Corp. (NYSE:TPVG - Get Free Report) have received an average rating of "Reduce" from the five ratings firms that are covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation and three have given a hold recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $5.17.

TPVG has been the subject of several recent research reports. Keefe, Bruyette & Woods reduced their price objective on TriplePoint Venture Growth BDC from $6.00 to $5.50 and set a "market perform" rating for the company in a research report on Thursday, August 6th. Piper Sandler dropped their target price on TriplePoint Venture Growth BDC from $5.50 to $5.00 and set a "neutral" rating on the stock in a research report on Monday, July 13th. Finally, Weiss Ratings cut TriplePoint Venture Growth BDC from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Thursday, October 8th.

Insider Buying and Selling

In related news, insider Sajal Srivastava sold 313,865 shares of the stock in a transaction on Friday, September 18th. The shares were sold at an average price of $4.71, for a total transaction of $1,478,304.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO James Labe bought 313,865 shares of TriplePoint Venture Growth BDC stock in a transaction that occurred on Friday, September 18th. The shares were acquired at an average price of $4.71 per share, with a total value of $1,478,304.15. Following the acquisition, the chief executive officer directly owned 2,312,354 shares of the company's stock, valued at $10,891,187.34. The trade was a 15.71% increase in their position. The SEC filing for this purchase provides additional information. 1.55% of the stock is owned by company insiders.

Institutional Investors Weigh In On TriplePoint Venture Growth BDC

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Legal & General Group Plc bought a new stake in TriplePoint Venture Growth BDC during the 2nd quarter worth about $1,597,000. BlackRock Inc. bought a new position in shares of TriplePoint Venture Growth BDC in the 2nd quarter valued at about $754,000. Bank of America Corp DE bought a new position in shares of TriplePoint Venture Growth BDC in the 2nd quarter valued at about $620,000. Cetera Investment Advisers increased its position in shares of TriplePoint Venture Growth BDC by 15.7% in the first quarter. Cetera Investment Advisers now owns 54,299 shares of the investment management company's stock valued at $271,000 after acquiring an additional 7,355 shares during the last quarter. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its position in shares of TriplePoint Venture Growth BDC by 19.9% in the second quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 14,659 shares of the investment management company's stock valued at $72,000 after acquiring an additional 2,435 shares during the last quarter. 12.77% of the stock is currently owned by institutional investors and hedge funds.

TriplePoint Venture Growth BDC Trading Up 0.3%

Shares of NYSE TPVG opened at $4.30 on Tuesday. The firm has a market cap of $175.26 million, a PE ratio of 4.35 and a beta of 1.37. TriplePoint Venture Growth BDC has a 1-year low of $4.15 and a 1-year high of $6.95. The company has a fifty day moving average price of $4.96 and a 200 day moving average price of $5.26.

TriplePoint Venture Growth BDC (NYSE:TPVG - Get Free Report) last released its earnings results on Wednesday, August 5th. The investment management company reported $0.26 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.24 by $0.02. The firm had revenue of $22.15 million during the quarter, compared to analysts' expectations of $22.88 million. TriplePoint Venture Growth BDC had a return on equity of 10.68% and a net margin of 44.58%. Equities research analysts forecast that TriplePoint Venture Growth BDC will post 0.89 EPS for the current year.

TriplePoint Venture Growth BDC Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 30th. Stockholders of record on Wednesday, December 16th will be paid 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 dividend yield of 5.6%. This is a decrease from TriplePoint Venture Growth BDC's previous quarterly dividend of $0.29. TriplePoint Venture Growth BDC's dividend payout ratio (DPR) is 92.93%.

TriplePoint Venture Growth BDC Company Profile

TriplePoint Venture Growth BDC Corp. is a business development company that provides financing to venture growth-stage companies. The company primarily invests in businesses backed by venture capital or private equity sponsors, with an emphasis on companies that have developed products or services and are seeking capital to support expansion, acquisitions, working capital and other corporate purposes.

Its investment portfolio is focused largely on companies in technology, life sciences and other high-growth industries.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.