TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) Receives Average Recommendation of "Reduce" from Analysts

Key Points

• TriplePoint Venture Growth BDC Corp. has received a consensus recommendation of "Reduce" from six brokerages, with an average target price of $6.75.
• Recent insider activity includes significant purchases by both CEO James Labe and insider Sajal Srivastava, each acquiring 80,000 shares at $6.48, indicating confidence in the company's future.
• The company has cut its dividend to $0.23 per share, with a notably high dividend payout ratio of 115.38%, reflecting challenges in maintaining income distributions amid financial pressures.

Shares of TriplePoint Venture Growth BDC Corp. (NYSE:TPVG - Get Free Report) have received an average rating of "Reduce" from the six analysts that are covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation and four have given a hold recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $6.75.

TPVG has been the topic of a number of research analyst reports. UBS Group restated a "neutral" rating and set a $7.00 price objective (up from $6.50) on shares of TriplePoint Venture Growth BDC in a report on Wednesday, July 16th. Zacks Research upgraded shares of TriplePoint Venture Growth BDC to a "strong sell" rating in a report on Friday, August 8th.

Insider Buying and Selling

In other TriplePoint Venture Growth BDC news, insider Sajal Srivastava acquired 65,000 shares of the stock in a transaction dated Friday, August 29th. The shares were bought at an average cost of $6.73 per share, for a total transaction of $437,450.00. Following the completion of the acquisition, the insider directly owned 488,435 shares of the company's stock, valued at approximately $3,287,167.55. This trade represents a 15.35% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO James Labe acquired 65,000 shares of the stock in a transaction dated Friday, August 29th. The stock was acquired at an average price of $6.73 per share, for a total transaction of $437,450.00. Following the completion of the acquisition, the chief executive officer directly owned 488,435 shares of the company's stock, valued at $3,287,167.55. The trade was a 15.35% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 1,086,500 shares of company stock worth $7,050,996 over the last quarter. 1.46% of the stock is owned by corporate insiders.

Institutional Trading of TriplePoint Venture Growth BDC

A number of hedge funds and other institutional investors have recently made changes to their positions in TPVG. Nomura Asset Management Co. Ltd. acquired a new stake in shares of TriplePoint Venture Growth BDC in the second quarter valued at approximately $26,000. Quarry LP grew its stake in shares of TriplePoint Venture Growth BDC by 53.6% in the first quarter. Quarry LP now owns 4,669 shares of the investment management company's stock valued at $33,000 after buying an additional 1,629 shares in the last quarter. Northwestern Mutual Wealth Management Co. bought a new position in shares of TriplePoint Venture Growth BDC in the second quarter valued at $35,000. Private Advisor Group LLC bought a new position in shares of TriplePoint Venture Growth BDC in the first quarter valued at $72,000. Finally, HighTower Advisors LLC bought a new position in shares of TriplePoint Venture Growth BDC in the first quarter valued at $72,000. 12.77% of the stock is currently owned by institutional investors and hedge funds.

TriplePoint Venture Growth BDC Trading Down 0.5%

Shares of NYSE:TPVG traded down $0.04 during mid-day trading on Thursday, reaching $6.75. The stock had a trading volume of 358,636 shares, compared to its average volume of 418,835. The firm has a market cap of $271.96 million, a PE ratio of 6.49 and a beta of 1.48. The firm has a 50 day simple moving average of $6.81 and a two-hundred day simple moving average of $6.84. TriplePoint Venture Growth BDC has a twelve month low of $5.53 and a twelve month high of $8.50.

TriplePoint Venture Growth BDC (NYSE:TPVG - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The investment management company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.02). TriplePoint Venture Growth BDC had a net margin of 42.16% and a return on equity of 13.78%. The company had revenue of $23.28 million during the quarter, compared to analyst estimates of $23.75 million. On average, equities analysts anticipate that TriplePoint Venture Growth BDC will post 1.4 EPS for the current fiscal year.

TriplePoint Venture Growth BDC Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be issued a $0.23 dividend. The ex-dividend date is Tuesday, September 16th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 13.6%. TriplePoint Venture Growth BDC's dividend payout ratio (DPR) is 115.38%.

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.