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

Key Points

• Analysts have a consensus "Reduce" rating on TriplePoint Venture Growth BDC from six brokerages (three sell, three hold) with an average 12‑month price target of $5.63 and several recent downgrades and price cuts.
• The firm pays a quarterly $0.23 dividend (annualized $0.92), representing a 16.4% dividend yield and a 74.8% payout ratio.
• TPVG reported quarterly EPS of $0.25 (below the $0.26 consensus) while revenue beat at $25.96M; the stock opened at $5.61 with a market cap of $226.95M and a P/E of 4.56.

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG - Get Free Report) has been given a consensus recommendation of "Reduce" by the six brokerages that are covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation and three have assigned a hold recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $5.6250.

A number of analysts recently commented on TPVG shares. Zacks Research downgraded shares of TriplePoint Venture Growth BDC from a "hold" rating to a "strong sell" rating in a report on Thursday, April 16th. Keefe, Bruyette & Woods decreased their price objective on shares of TriplePoint Venture Growth BDC from $7.00 to $6.50 and set a "market perform" rating on the stock in a report on Thursday, March 5th. Wells Fargo & Company decreased their price objective on shares of TriplePoint Venture Growth BDC from $5.50 to $5.00 and set an "underweight" rating on the stock in a report on Thursday, March 5th. Weiss Ratings downgraded shares of TriplePoint Venture Growth BDC from a "hold (c-)" rating to a "sell (d+)" rating in a report on Thursday, March 12th. Finally, Piper Sandler decreased their price objective on shares of TriplePoint Venture Growth BDC from $6.00 to $5.50 and set a "neutral" rating on the stock in a report on Tuesday, April 7th.

Institutional Trading of TriplePoint Venture Growth BDC

Several institutional investors and hedge funds have recently modified their holdings of the business. Two Sigma Investments LP lifted its holdings in shares of TriplePoint Venture Growth BDC by 58.6% in the third quarter. Two Sigma Investments LP now owns 612,727 shares of the investment management company's stock valued at $3,535,000 after purchasing an additional 226,479 shares in the last quarter. Marshall Wace LLP lifted its holdings in shares of TriplePoint Venture Growth BDC by 44.9% in the second quarter. Marshall Wace LLP now owns 529,201 shares of the investment management company's stock valued at $3,710,000 after purchasing an additional 163,916 shares in the last quarter. Trexquant Investment LP lifted its holdings in shares of TriplePoint Venture Growth BDC by 48.1% in the fourth quarter. Trexquant Investment LP now owns 190,996 shares of the investment management company's stock valued at $1,249,000 after purchasing an additional 62,023 shares in the last quarter. Norden Group LLC lifted its holdings in shares of TriplePoint Venture Growth BDC by 150.1% in the fourth quarter. Norden Group LLC now owns 174,090 shares of the investment management company's stock valued at $1,139,000 after purchasing an additional 104,492 shares in the last quarter. Finally, Jane Street Group LLC lifted its holdings in shares of TriplePoint Venture Growth BDC by 7.3% in the second quarter. Jane Street Group LLC now owns 72,663 shares of the investment management company's stock valued at $509,000 after purchasing an additional 4,970 shares in the last quarter. Hedge funds and other institutional investors own 12.77% of the company's stock.

TriplePoint Venture Growth BDC Trading Up 0.8%

TPVG stock opened at $5.61 on Tuesday. The company has a market cap of $226.95 million, a P/E ratio of 4.56 and a beta of 1.28. TriplePoint Venture Growth BDC has a 52 week low of $4.48 and a 52 week high of $7.53. The company's 50-day moving average price is $5.19 and its 200 day moving average price is $5.80.

TriplePoint Venture Growth BDC (NYSE:TPVG - Get Free Report) last released its quarterly earnings data 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). The company had revenue of $25.96 million for the quarter, compared to analysts' expectations of $23.78 million. TriplePoint Venture Growth BDC had a return on equity of 12.04% and a net margin of 54.12%. On average, equities research analysts expect that TriplePoint Venture Growth BDC will post 0.95 earnings per share for the current year.

TriplePoint Venture Growth BDC Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 16.4%. The ex-dividend date of this dividend was Tuesday, March 17th. TriplePoint Venture Growth BDC's dividend 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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