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

Shares of TriplePoint Venture Growth BDC Corp. (NYSE:TPVG - Get Free Report) have been assigned a consensus recommendation of "Reduce" from the six brokerages that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation and five have issued a hold recommendation on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $6.79.

TPVG has been the topic of a number of recent research reports. Compass Point cut their target price on TriplePoint Venture Growth BDC from $8.00 to $7.25 and set a "neutral" rating on the stock in a report on Tuesday, March 18th. Piper Sandler dropped their price objective on shares of TriplePoint Venture Growth BDC from $8.00 to $7.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. Keefe, Bruyette & Woods decreased their target price on shares of TriplePoint Venture Growth BDC from $7.50 to $7.00 and set a "market perform" rating for the company in a research report on Tuesday, April 8th. Wells Fargo & Company lowered their target price on shares of TriplePoint Venture Growth BDC from $6.50 to $5.50 and set an "underweight" rating on the stock in a report on Monday, April 28th. Finally, UBS Group cut their price target on TriplePoint Venture Growth BDC from $7.50 to $6.00 and set a "neutral" rating for the company in a research note on Thursday, April 17th.

Institutional Investors Weigh In On TriplePoint Venture Growth BDC

Institutional investors have recently added to or reduced their stakes in the company. Two Sigma Investments LP boosted its stake in shares of TriplePoint Venture Growth BDC by 21.9% in the 4th quarter. Two Sigma Investments LP now owns 678,034 shares of the investment management company's stock worth $5,004,000 after buying an additional 122,039 shares during the last quarter. Millennium Management LLC lifted its holdings 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 worth $890,000 after acquiring an additional 77,551 shares during the period. Alpine Global Management LLC purchased a new position in TriplePoint Venture Growth BDC in the fourth quarter worth $477,000. Trexquant Investment LP grew its stake in TriplePoint Venture Growth BDC by 35.5% in the 4th quarter. Trexquant Investment LP now owns 227,039 shares of the investment management company's stock valued at $1,676,000 after purchasing an additional 59,462 shares during the period. Finally, Cubist Systematic Strategies LLC bought a new position in TriplePoint Venture Growth BDC in the 4th quarter valued at $417,000. 12.77% of the stock is owned by institutional investors.

TriplePoint Venture Growth BDC Stock Up 2.1%

TPVG traded up $0.15 during trading on Wednesday, hitting $7.27. The company's stock had a trading volume of 192,553 shares, compared to its average volume of 360,627. The firm has a market capitalization of $292.47 million, a P/E ratio of 7.82 and a beta of 1.46. The stock's fifty day moving average price is $6.80 and its 200-day moving average price is $7.09. TriplePoint Venture Growth BDC has a twelve month low of $5.53 and a twelve month high of $9.17.

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

TriplePoint Venture Growth BDC Dividend Announcement

The company also recently declared 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. This represents a $1.20 dividend on an annualized basis and a dividend yield of 16.51%. The ex-dividend date was Monday, June 16th. TriplePoint Venture Growth BDC's payout ratio is currently 129.03%.

TriplePoint Venture Growth BDC Company Profile

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.