TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) Given Average Recommendation of "Reduce" by Analysts

Shares of TriplePoint Venture Growth BDC Corp. (NYSE:TPVG - Get Free Report) have received an average recommendation of "Reduce" from the five analysts that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation and four have assigned a hold recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $10.38.

A number of analysts have commented on the company. Keefe, Bruyette & Woods reduced their price target on TriplePoint Venture Growth BDC from $9.50 to $9.00 and set an "underperform" rating for the company in a research report on Thursday, March 7th. Compass Point raised shares of TriplePoint Venture Growth BDC from a "sell" rating to a "neutral" rating and set a $8.75 price target on the stock in a report on Friday, March 22nd. Wells Fargo & Company reduced their price objective on shares of TriplePoint Venture Growth BDC from $11.00 to $9.50 and set an "equal weight" rating for the company in a research note on Thursday, March 7th. Piper Sandler decreased their price target on TriplePoint Venture Growth BDC from $11.00 to $10.00 and set a "neutral" rating on the stock in a report on Thursday, March 7th. Finally, JMP Securities reaffirmed a "market perform" rating on shares of TriplePoint Venture Growth BDC in a research note on Thursday, March 7th.

TriplePoint Venture Growth BDC Stock Performance

Shares of TPVG traded down $0.13 during mid-day trading on Friday, hitting $9.10. 431,047 shares of the company traded hands, compared to its average volume of 308,905. The stock has a 50-day moving average price of $10.04 and a two-hundred day moving average price of $10.34. The stock has a market cap of $342.34 million, a price-to-earnings ratio of -8.27 and a beta of 1.77. TriplePoint Venture Growth BDC has a 1 year low of $8.94 and a 1 year high of $12.70.

TriplePoint Venture Growth BDC (NYSE:TPVG - Get Free Report) last released its quarterly earnings results 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 for the quarter, compared to analysts' expectations of $33.38 million. On average, analysts forecast that TriplePoint Venture Growth BDC will post 1.69 EPS for the current year.

TriplePoint Venture Growth BDC Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 14th were issued a dividend of $0.40 per share. The ex-dividend date was Wednesday, March 13th. This represents a $1.60 annualized dividend and a dividend yield of 17.58%. TriplePoint Venture Growth BDC's dividend payout ratio (DPR) is -145.45%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC raised its stake in shares of TriplePoint Venture Growth BDC by 28.7% in the third quarter. Tower Research Capital LLC TRC now owns 3,895 shares of the investment management company's stock valued at $42,000 after acquiring an additional 869 shares during the period. IHT Wealth Management LLC boosted its position in shares of TriplePoint Venture Growth BDC by 3.9% during the fourth quarter. IHT Wealth Management LLC now owns 25,363 shares of the investment management company's stock valued at $265,000 after buying an additional 953 shares during the period. Quarry LP grew its stake in shares of TriplePoint Venture Growth BDC by 43.7% during the fourth quarter. Quarry LP now owns 3,143 shares of the investment management company's stock valued at $34,000 after buying an additional 956 shares during the last quarter. B. Riley Wealth Advisors Inc. lifted its stake in shares of TriplePoint Venture Growth BDC by 2.0% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 51,297 shares of the investment management company's stock worth $620,000 after acquiring an additional 996 shares during the last quarter. Finally, Cetera Advisor Networks LLC boosted its holdings in TriplePoint Venture Growth BDC by 2.8% during the 4th quarter. Cetera Advisor Networks LLC now owns 37,206 shares of the investment management company's stock valued at $388,000 after acquiring an additional 1,000 shares during the period. Hedge funds and other institutional investors own 12.77% of the company's stock.

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.