TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) Receives $6.75 Consensus PT from Analysts

Key Points

• TriplePoint Venture Growth BDC Corp. has received a consensus rating of "Reduce" from analysts, with two sell ratings and four hold ratings, along with an average target price of $6.75.
• The company reported a quarterly EPS of $0.28, missing estimates, with revenue also falling short of projections at $23.28 million.
• TriplePoint has announced a quarterly dividend of $0.23, resulting in a dividend yield of 14.7%, but has a high payout ratio of 88.46%.

Shares of TriplePoint Venture Growth BDC Corp. (NYSE:TPVG - Get Free Report) have been assigned a consensus recommendation of "Reduce" from the six analysts that are presently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation and four have given a hold recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $6.75.

A number of brokerages have recently commented on TPVG. UBS Group reiterated a "neutral" rating and issued a $7.00 price target (up from $6.50) on shares of TriplePoint Venture Growth BDC in a research note on Wednesday, July 16th. Zacks Research raised TriplePoint Venture Growth BDC to a "strong sell" rating in a research report on Friday, August 8th.

Insider Buying and Selling at TriplePoint Venture Growth BDC

In related news, insider Sajal Srivastava acquired 48,800 shares of the business's stock in a transaction that occurred on Wednesday, September 3rd. The shares were acquired at an average cost of $6.77 per share, for a total transaction of $330,376.00. Following the completion of the purchase, the insider directly owned 591,235 shares in the company, valued at $4,002,660.95. This trade represents a 9.00% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO James Labe purchased 48,800 shares of TriplePoint Venture Growth BDC stock in a transaction dated Wednesday, September 3rd. The shares were purchased at an average price of $6.77 per share, with a total value of $330,376.00. Following the completion of the acquisition, the chief executive officer owned 591,235 shares in the company, valued at $4,002,660.95. The trade was a 9.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 1,292,100 shares of company stock worth $8,437,508 over the last ninety days. 1.46% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On TriplePoint Venture Growth BDC

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Nomura Asset Management Co. Ltd. bought a new position in TriplePoint Venture Growth BDC in the 2nd quarter worth $26,000. Quarry LP increased its holdings in TriplePoint Venture Growth BDC by 53.6% during the first quarter. Quarry LP now owns 4,669 shares of the investment management company's stock valued at $33,000 after buying an additional 1,629 shares during the period. Northwestern Mutual Wealth Management Co. purchased a new position in TriplePoint Venture Growth BDC in the 2nd quarter worth $35,000. HighTower Advisors LLC purchased a new position in shares of TriplePoint Venture Growth BDC in the 1st quarter valued at about $72,000. Finally, Private Advisor Group LLC acquired a new stake in TriplePoint Venture Growth BDC in the 1st quarter valued at about $72,000. 12.77% of the stock is owned by institutional investors.

TriplePoint Venture Growth BDC Price Performance

Shares of NYSE TPVG traded down $0.16 during mid-day trading on Monday, hitting $6.09. The company had a trading volume of 412,414 shares, compared to its average volume of 400,051. TriplePoint Venture Growth BDC has a 12 month low of $5.53 and a 12 month high of $8.50. The firm's 50 day simple moving average is $6.66 and its two-hundred day simple moving average is $6.69. The stock has a market cap of $245.55 million, a price-to-earnings ratio of 5.86 and a beta of 1.48.

TriplePoint Venture Growth BDC (NYSE:TPVG - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The investment management company reported $0.28 EPS for the quarter, missing analysts' consensus estimates of $0.30 by ($0.02). TriplePoint Venture Growth BDC had a net margin of 42.16% and a return on equity of 13.78%. The firm had revenue of $23.28 million during the quarter, compared to analyst estimates of $23.75 million. Equities analysts forecast that TriplePoint Venture Growth BDC will post 1.4 earnings per share for the current year.

TriplePoint Venture Growth BDC Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 15.1%. The ex-dividend date of this dividend is Tuesday, September 16th. TriplePoint Venture Growth BDC's dividend payout ratio (DPR) is 88.46%.

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.