TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) Receives $6.79 Average PT from Analysts

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG - Get Free Report) has earned an average recommendation of "Reduce" from the six brokerages that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $6.79.

Several analysts recently commented on the company. Keefe, Bruyette & Woods cut their price objective on TriplePoint Venture Growth BDC from $7.50 to $7.00 and set a "market perform" rating for the company in a report on Tuesday, April 8th. Compass Point cut their price objective on TriplePoint Venture Growth BDC from $8.00 to $7.25 and set a "neutral" rating for the company in a report on Tuesday, March 18th. Piper Sandler cut their price objective on TriplePoint Venture Growth BDC from $8.00 to $7.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. UBS Group cut their price objective on TriplePoint Venture Growth BDC from $7.50 to $6.00 and set a "neutral" rating for the company in a report on Thursday, April 17th. Finally, Wells Fargo & Company cut their price objective on TriplePoint Venture Growth BDC from $6.50 to $5.50 and set an "underweight" rating for the company in a report on Monday, April 28th.

Hedge Funds Weigh In On TriplePoint Venture Growth BDC

Institutional investors and hedge funds have recently bought and sold shares of the stock. Millennium Management LLC lifted its position in TriplePoint Venture Growth BDC by 180.1% during the fourth quarter. Millennium Management LLC now owns 120,602 shares of the investment management company's stock valued at $890,000 after purchasing an additional 77,551 shares in the last quarter. Bank of America Corp DE lifted its position in shares of TriplePoint Venture Growth BDC by 208.5% in the fourth quarter. Bank of America Corp DE now owns 17,122 shares of the investment management company's stock valued at $126,000 after acquiring an additional 11,572 shares in the last quarter. Two Sigma Investments LP lifted its position in shares of TriplePoint Venture Growth BDC by 21.9% in the fourth quarter. Two Sigma Investments LP now owns 678,034 shares of the investment management company's stock valued at $5,004,000 after acquiring an additional 122,039 shares in the last quarter. Alpine Global Management LLC purchased a new position in shares of TriplePoint Venture Growth BDC in the fourth quarter valued at about $477,000. Finally, Two Sigma Advisers LP lifted its position in shares of TriplePoint Venture Growth BDC by 6.5% in the fourth quarter. Two Sigma Advisers LP now owns 830,492 shares of the investment management company's stock valued at $6,129,000 after acquiring an additional 50,800 shares in the last quarter. 12.77% of the stock is currently owned by hedge funds and other institutional investors.

TriplePoint Venture Growth BDC Stock Down 0.8%

Shares of TriplePoint Venture Growth BDC stock traded down $0.06 on Wednesday, reaching $7.14. The company's stock had a trading volume of 212,896 shares, compared to its average volume of 360,650. The company has a market capitalization of $287.24 million, a price-to-earnings ratio of 7.68 and a beta of 1.46. The firm's fifty day simple moving average is $6.78 and its two-hundred day simple moving average is $7.09. TriplePoint Venture Growth BDC has a 52 week low of $5.53 and a 52 week high of $9.17.

TriplePoint Venture Growth BDC (NYSE:TPVG - Get Free Report) last posted its earnings results on Wednesday, May 7th. The investment management company reported $0.27 EPS for the quarter, missing analysts' consensus estimates of $0.30 by ($0.03). The business had revenue of $22.45 million during the quarter, compared to the consensus estimate of $24.90 million. TriplePoint Venture Growth BDC had a return on equity of 14.12% and a net margin of 36.10%. As a group, research analysts predict that TriplePoint Venture Growth BDC will post 1.4 EPS for the current year.

TriplePoint Venture Growth BDC Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 16th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Monday, June 16th. This represents a $1.20 annualized dividend and a yield of 16.81%. TriplePoint Venture Growth BDC's dividend payout ratio (DPR) is presently 129.03%.

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.