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

Key Points

• TriplePoint Venture Growth BDC has a consensus analyst rating of “Reduce”, with two sell ratings and four hold ratings; the average price target is $5.50.
• The stock recently traded down 1.9% to $4.72, near its 52-week low of $4.48 and below both its 50-day and 200-day moving averages.
• The company missed earnings expectations in its latest quarterly report, though it still declared a $0.23 quarterly dividend that annualizes to a 19.5% yield.

Shares of TriplePoint Venture Growth BDC Corp. (NYSE:TPVG - Get Free Report) have been given an average recommendation of "Reduce" by the six ratings firms that are presently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation and four have issued a hold recommendation on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $5.50.

A number of equities analysts recently commented on the stock. Zacks Research raised shares of TriplePoint Venture Growth BDC from a "strong sell" rating to a "hold" rating in a research note on Friday, May 15th. Piper Sandler cut their target price on shares of TriplePoint Venture Growth BDC from $5.50 to $5.00 and set a "neutral" rating on the stock in a research note on Monday, July 13th. Finally, Weiss Ratings reissued a "sell (d+)" rating on shares of TriplePoint Venture Growth BDC in a research note on Tuesday, June 9th.

Institutional Investors Weigh In On TriplePoint Venture Growth BDC

Hedge funds have recently bought and sold shares of the business. Two Sigma Investments LP grew its stake in TriplePoint Venture Growth BDC by 58.6% during the 3rd quarter. Two Sigma Investments LP now owns 612,727 shares of the investment management company's stock valued at $3,535,000 after acquiring an additional 226,479 shares in the last quarter. Marshall Wace LLP increased its holdings in shares of TriplePoint Venture Growth BDC by 44.9% in the 2nd quarter. Marshall Wace LLP now owns 529,201 shares of the investment management company's stock valued at $3,710,000 after purchasing an additional 163,916 shares during the period. Norden Group LLC lifted its position in shares of TriplePoint Venture Growth BDC by 150.1% in the fourth quarter. Norden Group LLC now owns 174,090 shares of the investment management company's stock worth $1,139,000 after purchasing an additional 104,492 shares in the last quarter. Trexquant Investment LP lifted its position in shares of TriplePoint Venture Growth BDC by 48.1% in the fourth quarter. Trexquant Investment LP now owns 190,996 shares of the investment management company's stock worth $1,249,000 after purchasing an additional 62,023 shares in the last quarter. Finally, XTX Topco Ltd acquired a new stake in shares of TriplePoint Venture Growth BDC during the fourth quarter worth approximately $354,000. 12.77% of the stock is owned by hedge funds and other institutional investors.

TriplePoint Venture Growth BDC Trading Down 1.9%

NYSE TPVG opened at $4.72 on Friday. The stock's 50-day moving average price is $5.22 and its two-hundred day moving average price is $5.49. The company has a market cap of $191.63 million, a PE ratio of 4.45 and a beta of 1.28. TriplePoint Venture Growth BDC has a 1 year low of $4.48 and a 1 year high of $7.49.

TriplePoint Venture Growth BDC (NYSE:TPVG - Get Free Report) last announced its earnings results on Wednesday, May 6th. The investment management company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.02). The firm had revenue of $19.81 million during the quarter, compared to analyst estimates of $23.14 million. TriplePoint Venture Growth BDC had a return on equity of 11.54% and a net margin of 46.77%. Research analysts forecast that TriplePoint Venture Growth BDC will post 0.95 EPS for the current fiscal year.

TriplePoint Venture Growth BDC Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th were issued a dividend of $0.23 per share. The ex-dividend date was Tuesday, June 16th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 19.5%. TriplePoint Venture Growth BDC's payout ratio is currently 86.79%.

About TriplePoint Venture Growth BDC

TriplePoint Venture Growth BDC Inc is a closed-end management investment company externally managed by TriplePoint Capital LLC. The firm specializes in providing customized debt and equity financing to growth-stage, venture capital– and private equity–backed companies. Its financing solutions include senior secured loans, unitranche facilities, subordinated debt and selective equity co-investments tailored to support expansion, working capital needs and strategic initiatives.

Launched in September 2018 and listed on the New York Stock Exchange under the symbol TPVG, TriplePoint Venture Growth BDC leverages the deep industry expertise and established underwriting capabilities of TriplePoint Capital, a venture lender since 2003.

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