TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) Receives $6.79 Consensus Price Target from Analysts

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG - Get Free Report) has been given an average rating of "Reduce" by the six ratings firms that are covering the company, Marketbeat 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 1-year price objective among brokers that have issued ratings on the stock in the last year is $6.79.

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

TriplePoint Venture Growth BDC Trading Up 1.8%

Shares of NYSE:TPVG traded up $0.13 on Wednesday, reaching $7.25. The company had a trading volume of 70,468 shares, compared to its average volume of 359,530. TriplePoint Venture Growth BDC has a 52-week low of $5.53 and a 52-week high of $9.17. The firm's 50 day simple moving average is $6.78 and its 200-day simple moving average is $7.09. The firm has a market capitalization of $291.47 million, a PE ratio of 7.79 and a beta of 1.46.

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

TriplePoint Venture Growth BDC Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders 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 dividend on an annualized basis and a yield of 16.56%. TriplePoint Venture Growth BDC's dividend payout ratio is currently 129.03%.

Institutional Trading of TriplePoint Venture Growth BDC

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Millennium Management LLC increased its stake in TriplePoint Venture Growth BDC by 180.1% during the 4th quarter. Millennium Management LLC now owns 120,602 shares of the investment management company's stock worth $890,000 after buying an additional 77,551 shares in the last quarter. Bank of America Corp DE increased its stake in TriplePoint Venture Growth BDC by 208.5% during the 4th quarter. Bank of America Corp DE now owns 17,122 shares of the investment management company's stock worth $126,000 after buying an additional 11,572 shares in the last quarter. Two Sigma Investments LP increased its stake in TriplePoint Venture Growth BDC by 21.9% during 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 in the last quarter. Alpine Global Management LLC purchased a new stake in TriplePoint Venture Growth BDC during the 4th quarter worth approximately $477,000. Finally, Two Sigma Advisers LP grew 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 purchasing an additional 50,800 shares in the last quarter. Institutional investors and hedge funds own 12.77% of the company's stock.

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.