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

Key Points

• Analysts have a consensus "Reduce" rating on TriplePoint (2 sell, 4 hold), with an average 12‑month price target of about $5.63 after recent price‑target cuts and downgrades from KBW, Weiss, Piper Sandler and Wells Fargo.
• Insiders — including CEO James Labe and Sajal Srivastava — each purchased 23,799 shares at $6.66 on Jan. 12, modestly increasing their stakes (insiders own ~1.55% of the company).
• The company reported Q results with a slight EPS miss ($0.25 vs. $0.26) and a large revenue shortfall ($3.42M vs. $23.78M expected); the stock trades near $5.11 and pays a 18% dividend yield ($0.92 annualized) with a 74.8% payout ratio.

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG - Get Free Report) has received a consensus recommendation of "Reduce" from the six analysts that are currently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating and four have given a hold rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $5.6250.

A number of brokerages have recently issued reports on TPVG. Keefe, Bruyette & Woods dropped their price target on shares of TriplePoint Venture Growth BDC from $7.00 to $6.50 and set a "market perform" rating on the stock in a research note on Thursday, March 5th. Weiss Ratings lowered shares of TriplePoint Venture Growth BDC from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Thursday, March 12th. Piper Sandler dropped their price target on shares of TriplePoint Venture Growth BDC from $6.00 to $5.50 and set a "neutral" rating on the stock in a research note on Tuesday. Finally, Wells Fargo & Company dropped their price target on shares of TriplePoint Venture Growth BDC from $5.50 to $5.00 and set an "underweight" rating on the stock in a research note on Thursday, March 5th.

Insider Transactions at TriplePoint Venture Growth BDC

In other news, insider Sajal Srivastava purchased 23,799 shares of the company's stock in a transaction dated Monday, January 12th. The shares were acquired at an average cost of $6.66 per share, for a total transaction of $158,501.34. Following the completion of the purchase, the insider directly owned 1,998,489 shares in the company, valued at $13,309,936.74. The trade was a 1.21% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO James Labe purchased 23,799 shares of the company's stock in a transaction dated Monday, January 12th. The shares were purchased at an average price of $6.66 per share, for a total transaction of $158,501.34. Following the completion of the purchase, the chief executive officer owned 1,998,489 shares of the company's stock, valued at approximately $13,309,936.74. This trade represents a 1.21% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 1.55% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. O Shaughnessy Asset Management LLC grew its position in TriplePoint Venture Growth BDC by 13.8% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 24,152 shares of the investment management company's stock worth $158,000 after buying an additional 2,921 shares during the period. Royal Bank of Canada grew its position in TriplePoint Venture Growth BDC by 19.5% during the fourth quarter. Royal Bank of Canada now owns 23,196 shares of the investment management company's stock worth $152,000 after buying an additional 3,783 shares during the period. Millennium Management LLC acquired a new position in TriplePoint Venture Growth BDC during the third quarter worth about $134,000. Verition Fund Management LLC grew its position in TriplePoint Venture Growth BDC by 14.1% during the third quarter. Verition Fund Management LLC now owns 22,677 shares of the investment management company's stock worth $131,000 after buying an additional 2,800 shares during the period. Finally, Squarepoint Ops LLC acquired a new position in TriplePoint Venture Growth BDC during the fourth quarter worth about $121,000. 12.77% of the stock is currently owned by institutional investors and hedge funds.

TriplePoint Venture Growth BDC Stock Performance

Shares of NYSE:TPVG opened at $5.11 on Friday. The company has a 50-day simple moving average of $5.31 and a 200-day simple moving average of $5.83. TriplePoint Venture Growth BDC has a one year low of $4.48 and a one year high of $7.53. The stock has a market capitalization of $206.71 million, a price-to-earnings ratio of 4.15 and a beta of 1.32.

TriplePoint Venture Growth BDC (NYSE:TPVG - Get Free Report) last announced its earnings results on Wednesday, March 4th. The investment management company reported $0.25 EPS for the quarter, missing analysts' consensus estimates of $0.26 by ($0.01). TriplePoint Venture Growth BDC had a net margin of 54.12% and a return on equity of 12.04%. The business had revenue of $3.42 million during the quarter, compared to analysts' expectations of $23.78 million. As a group, research analysts forecast that TriplePoint Venture Growth BDC will post 1.4 EPS for the current fiscal year.

TriplePoint Venture Growth BDC Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th were paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 18.0%. The ex-dividend date was Tuesday, March 17th. TriplePoint Venture Growth BDC's payout ratio is 74.80%.

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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