Analysts Set TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) Target Price at $6.96

Key Points

• TriplePoint Venture Growth BDC Corp. has received an average analyst rating of "Reduce" , with one sell recommendation and five hold recommendations from covering firms.
• The company reported $0.27 earnings per share for the last quarter, missing estimates and showcasing a net margin of 36.10%.
• TriplePoint recently announced a quarterly dividend of $0.30 per share, resulting in an annualized yield of 17.7%, despite a payout ratio of 129.03%.

Shares of TriplePoint Venture Growth BDC Corp. (NYSE:TPVG - Get Free Report) have been assigned an average recommendation of "Reduce" from the six ratings firms that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation and five have assigned a hold recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $6.9583.

A number of research analysts have issued reports on the company. UBS Group reissued a "neutral" rating and issued a $7.00 target price (up from $6.50) on shares of TriplePoint Venture Growth BDC in a research note on Wednesday, July 16th. Wells Fargo & Company dropped their price objective on TriplePoint Venture Growth BDC from $6.50 to $5.50 and set an "underweight" rating on the stock in a research note on Monday, April 28th.

TriplePoint Venture Growth BDC Price Performance

Shares of NYSE TPVG traded down $0.54 during trading hours on Friday, reaching $6.37. The stock had a trading volume of 1,310,886 shares, compared to its average volume of 293,893. TriplePoint Venture Growth BDC has a twelve month low of $5.53 and a twelve month high of $8.50. The company has a market cap of $256.06 million, a price-to-earnings ratio of 6.84 and a beta of 1.46. The business's fifty day moving average is $7.03 and its two-hundred day moving average is $7.03.

TriplePoint Venture Growth BDC (NYSE:TPVG - Get Free Report) last released its earnings results on Wednesday, August 6th. The investment management company reported $0.28 EPS for the quarter, missing analysts' consensus estimates of $0.30 by ($0.02). TriplePoint Venture Growth BDC had a return on equity of 14.12% and a net margin of 36.10%. The business had revenue of $23.28 million for the quarter, compared to analyst estimates of $23.75 million. Sell-side analysts forecast that TriplePoint Venture Growth BDC will post 1.4 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Raymond James Financial Inc. acquired a new position in TriplePoint Venture Growth BDC during the 4th quarter worth approximately $267,000. JPMorgan Chase & Co. increased its holdings in TriplePoint Venture Growth BDC by 1,475.7% during the 4th quarter. JPMorgan Chase & Co. now owns 36,241 shares of the investment management company's stock worth $267,000 after purchasing an additional 33,941 shares in the last quarter. Trexquant Investment LP boosted its holdings in 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 worth $1,676,000 after purchasing an additional 59,462 shares during the last quarter. ExodusPoint Capital Management LP bought a new position in TriplePoint Venture Growth BDC in the 4th quarter valued at $219,000. Finally, Legal & General Group Plc raised its stake in shares of TriplePoint Venture Growth BDC by 1.3% during the 4th quarter. Legal & General Group Plc now owns 264,486 shares of the investment management company's stock worth $1,951,000 after purchasing an additional 3,418 shares during the period. Institutional investors and hedge funds own 12.77% of the company's stock.

About TriplePoint Venture Growth BDC

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.