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

Shares of TriplePoint Venture Growth BDC Corp. (NYSE:TPVG - Get Free Report) have received a consensus recommendation of "Reduce" from the six brokerages that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation and five have issued a hold recommendation on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $6.79.

A number of analysts have recently issued reports on the stock. Compass Point dropped their price objective on shares of TriplePoint Venture Growth BDC from $8.00 to $7.25 and set a "neutral" rating for the company in a report on Tuesday, March 18th. Keefe, Bruyette & Woods reduced 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 report on Tuesday, April 8th. Wells Fargo & Company decreased their price objective on TriplePoint Venture Growth BDC from $6.50 to $5.50 and set an "underweight" rating on the stock in a report on Monday, April 28th. Piper Sandler cut their target price on TriplePoint Venture Growth BDC from $8.00 to $7.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. Finally, UBS Group decreased their price target 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.

Institutional Investors Weigh In On TriplePoint Venture Growth BDC

A number of large investors have recently added to or reduced their stakes in the company. Two Sigma Investments LP boosted its holdings in shares of TriplePoint Venture Growth BDC by 21.9% during the fourth quarter. Two Sigma Investments LP now owns 678,034 shares of the investment management company's stock worth $5,004,000 after purchasing an additional 122,039 shares during the period. Millennium Management LLC grew its position in shares of TriplePoint Venture Growth BDC by 180.1% in 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 during the last quarter. Alpine Global Management LLC bought a new stake in shares of TriplePoint Venture Growth BDC in the 4th quarter worth approximately $477,000. Trexquant Investment LP increased its stake in shares of TriplePoint Venture Growth BDC by 35.5% during the fourth quarter. Trexquant Investment LP now owns 227,039 shares of the investment management company's stock valued at $1,676,000 after buying an additional 59,462 shares during the period. Finally, Cubist Systematic Strategies LLC bought a new position in shares of TriplePoint Venture Growth BDC during the fourth quarter valued at approximately $417,000. Institutional investors own 12.77% of the company's stock.

TriplePoint Venture Growth BDC Price Performance

NYSE TPVG traded up $0.04 during trading on Tuesday, reaching $6.71. The company's stock had a trading volume of 110,784 shares, compared to its average volume of 383,141. The firm has a fifty day moving average of $6.42 and a 200 day moving average of $7.29. TriplePoint Venture Growth BDC has a one year low of $5.53 and a one year high of $9.55. The stock has a market capitalization of $269.96 million, a PE ratio of 31.95 and a beta of 1.49.

TriplePoint Venture Growth BDC (NYSE:TPVG - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The investment management company reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.03). TriplePoint Venture Growth BDC had a return on equity of 16.86% and a net margin of 9.01%. The company had revenue of $22.45 million during the quarter, compared to the consensus estimate of $24.90 million. Research analysts expect that TriplePoint Venture Growth BDC will post 1.4 earnings per share for the current fiscal year.

TriplePoint Venture Growth BDC Dividend Announcement

The company 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 dividend of $0.30 per share. The ex-dividend date is Monday, June 16th. This represents a $1.20 dividend on an annualized basis and a yield of 17.88%. TriplePoint Venture Growth BDC's dividend payout ratio is currently 129.03%.

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.