Shares of TriplePoint Venture Growth BDC Corp. (NYSE:TPVG - Get Free Report) have been assigned an average recommendation of "Reduce" from the six research firms that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $6.79.
A number of brokerages have commented on TPVG. Wells Fargo & Company reduced their target price on shares of 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. Keefe, Bruyette & Woods decreased their price objective 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. Compass Point lowered their price objective on TriplePoint Venture Growth BDC from $8.00 to $7.25 and set a "neutral" rating on the stock in a research report on Tuesday, March 18th. Piper Sandler reduced their target price on shares of 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. Finally, UBS Group decreased their target price on shares of 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.
Read Our Latest Stock Report on TPVG
Institutional Investors Weigh In On TriplePoint Venture Growth BDC
A number of institutional investors have recently added to or reduced their stakes in the stock. Strategic Financial Concepts LLC bought a new stake in TriplePoint Venture Growth BDC in the 4th quarter valued at $120,000. Kovack Advisors Inc. increased its holdings in shares of TriplePoint Venture Growth BDC by 20.8% in the fourth quarter. Kovack Advisors Inc. now owns 44,819 shares of the investment management company's stock worth $331,000 after purchasing an additional 7,719 shares during the last quarter. Norden Group LLC lifted its position in shares of TriplePoint Venture Growth BDC by 47.2% in the fourth quarter. Norden Group LLC now owns 25,998 shares of the investment management company's stock worth $192,000 after buying an additional 8,338 shares in the last quarter. Raymond James Financial Inc. bought a new position in TriplePoint Venture Growth BDC during the fourth quarter valued at approximately $267,000. Finally, EverSource Wealth Advisors LLC grew its holdings in TriplePoint Venture Growth BDC by 25.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 10,000 shares of the investment management company's stock valued at $74,000 after buying an additional 2,000 shares in the last quarter. 12.77% of the stock is owned by hedge funds and other institutional investors.
TriplePoint Venture Growth BDC Stock Performance
Shares of TPVG stock traded up $0.08 on Friday, reaching $6.74. The stock had a trading volume of 260,728 shares, compared to its average volume of 371,350. TriplePoint Venture Growth BDC has a 1 year low of $5.53 and a 1 year high of $9.17. The stock has a market cap of $271.31 million, a P/E ratio of 7.25 and a beta of 1.47. The company has a 50 day simple moving average of $6.51 and a 200 day simple moving average of $7.18.
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 earnings per share for the quarter, missing analysts' consensus estimates of $0.30 by ($0.03). The firm had revenue of $22.45 million during the quarter, compared to the consensus estimate of $24.90 million. TriplePoint Venture Growth BDC had a net margin of 36.10% and a return on equity of 14.12%. On average, equities research analysts anticipate that TriplePoint Venture Growth BDC will post 1.4 earnings per share for the current fiscal year.
TriplePoint Venture Growth BDC Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $1.20 dividend on an annualized basis and a yield of 17.79%. TriplePoint Venture Growth BDC's dividend payout ratio is presently 129.03%.
About TriplePoint Venture Growth BDC
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Get Free ReportTriplePoint 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.
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