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

Key Points

• TriplePoint Venture Growth BDC Corp. has received an average analyst rating of "Reduce," with one sell recommendation and six hold recommendations, while the average price target is $6.25.
• The company announced a $0.23 quarterly dividend to be paid on December 30th, yielding 16.7% annually, with a payout ratio of 88.46%.
• Insider purchases have occurred recently, with both the CEO and an insider acquiring 48,800 shares at $6.77 each, indicating a 9.00% increase in their positions.

Shares of TriplePoint Venture Growth BDC Corp. (NYSE:TPVG - Get Free Report) have been given an average recommendation of "Reduce" by the seven analysts that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation and six have issued a hold recommendation on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $6.25.

A number of analysts recently commented on the company. Zacks Research upgraded TriplePoint Venture Growth BDC from a "strong sell" rating to a "hold" rating in a report on Tuesday, October 7th. Piper Sandler decreased their target price on TriplePoint Venture Growth BDC from $7.00 to $6.00 and set a "neutral" rating for the company in a research report on Thursday, October 9th. UBS Group decreased their target price on TriplePoint Venture Growth BDC from $6.50 to $5.50 and set a "neutral" rating for the company in a research report on Tuesday. Finally, Weiss Ratings reissued a "hold (c-)" rating on shares of TriplePoint Venture Growth BDC in a research report on Wednesday, October 8th.

TriplePoint Venture Growth BDC Trading Down 0.5%

Shares of TriplePoint Venture Growth BDC stock opened at $5.52 on Friday. The business's fifty day simple moving average is $6.16 and its 200 day simple moving average is $6.51. The firm has a market capitalization of $222.57 million, a P/E ratio of 5.31 and a beta of 1.47. TriplePoint Venture Growth BDC has a 12 month low of $5.24 and a 12 month high of $8.50.

TriplePoint Venture Growth BDC (NYSE:TPVG - Get Free Report) last issued its quarterly 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). The business had revenue of $23.28 million for the quarter, compared to the consensus estimate of $23.75 million. TriplePoint Venture Growth BDC had a return on equity of 13.78% and a net margin of 42.16%. Analysts predict that TriplePoint Venture Growth BDC will post 1.4 EPS for the current fiscal year.

TriplePoint Venture Growth BDC Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Tuesday, December 16th will be given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 16.7%. The ex-dividend date of this dividend is Tuesday, December 16th. TriplePoint Venture Growth BDC's dividend payout ratio (DPR) is currently 88.46%.

Insiders Place Their Bets

In other news, insider Sajal Srivastava bought 48,800 shares of the firm's stock in a transaction on Wednesday, September 3rd. The stock was acquired at an average cost of $6.77 per share, with a total value of $330,376.00. Following the completion of the transaction, the insider directly owned 591,235 shares of the company's stock, valued at $4,002,660.95. This represents a 9.00% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO James Labe bought 48,800 shares of the firm's stock in a transaction on Wednesday, September 3rd. The stock was purchased at an average cost of $6.77 per share, with a total value of $330,376.00. Following the completion of the transaction, the chief executive officer directly owned 591,235 shares of the company's stock, valued at approximately $4,002,660.95. The trade was a 9.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 1,292,100 shares of company stock valued at $8,437,508 over the last three months. Company insiders own 1.46% of the company's stock.

Hedge Funds Weigh In On TriplePoint Venture Growth BDC

Several hedge funds have recently made changes to their positions in TPVG. Nomura Asset Management Co. Ltd. purchased a new position in shares of TriplePoint Venture Growth BDC in the second quarter valued at $26,000. Quarry LP grew its position 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 purchasing an additional 1,629 shares in the last quarter. Northwestern Mutual Wealth Management Co. purchased a new position in shares of TriplePoint Venture Growth BDC in the second quarter valued at $35,000. HighTower Advisors LLC purchased a new position in shares of TriplePoint Venture Growth BDC in the first quarter valued at $72,000. Finally, Private Advisor Group LLC purchased 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 hedge funds and other institutional investors.

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.

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