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

Key Points

• Analysts rate TPVG “Reduce” on average: Two analysts recommend selling and four advise holding, with an average 12-month price target of $5.25.
• TriplePoint Venture Growth BDC reported quarterly EPS of $0.26, beating estimates of $0.24, while revenue of $24.48 million also exceeded expectations.
• The company cut its quarterly dividend to $0.06, or $0.24 annually, representing a 4.4% yield; institutional investors and hedge funds own 12.77% of the stock.

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG - Get Free Report) has earned an average recommendation of "Reduce" from the six analysts that are covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $5.25.

TPVG has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods cut their target price on shares of TriplePoint Venture Growth BDC from $6.00 to $5.50 and set a "market perform" rating on the stock in a research report on Thursday, August 6th. Piper Sandler lowered their price target on shares of TriplePoint Venture Growth BDC from $5.50 to $5.00 and set a "neutral" rating for the company in a report on Monday, July 13th. Weiss Ratings reiterated a "sell (d+)" rating on shares of TriplePoint Venture Growth BDC in a research note on Tuesday, June 9th. Finally, Zacks Research raised TriplePoint Venture Growth BDC from a "strong sell" rating to a "hold" rating in a report on Friday, May 15th.

TriplePoint Venture Growth BDC Trading Up 2.5%

TPVG stock opened at $5.41 on Thursday. The stock has a market capitalization of $220.24 million, a P/E ratio of 5.46 and a beta of 1.28. TriplePoint Venture Growth BDC has a 12 month low of $4.39 and a 12 month high of $6.95. The firm has a 50-day moving average price of $4.90 and a 200-day moving average price of $5.25.

TriplePoint Venture Growth BDC (NYSE:TPVG - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The investment management company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.02. The company had revenue of $24.48 million for the quarter, compared to analyst estimates of $22.88 million. TriplePoint Venture Growth BDC had a net margin of 44.58% and a return on equity of 10.68%. As a group, equities analysts predict that TriplePoint Venture Growth BDC will post 0.94 EPS for the current fiscal year.

TriplePoint Venture Growth BDC Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 30th. Shareholders of record on Wednesday, December 16th will be given a $0.06 dividend. The ex-dividend date is Wednesday, December 16th. This represents a $0.24 annualized dividend and a yield of 4.4%. TriplePoint Venture Growth BDC's dividend payout ratio (DPR) is currently 92.93%.

Institutional Trading of TriplePoint Venture Growth BDC

Hedge funds have recently made changes to their positions in the company. CANADA LIFE ASSURANCE Co raised its stake in shares of TriplePoint Venture Growth BDC by 4.4% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 53,793 shares of the investment management company's stock valued at $351,000 after acquiring an additional 2,278 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors grew its stake in shares of TriplePoint Venture Growth BDC by 19.9% in the second quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 14,659 shares of the investment management company's stock worth $72,000 after purchasing an additional 2,435 shares during the last quarter. Verition Fund Management LLC grew its stake in shares of TriplePoint Venture Growth BDC by 14.1% in the third quarter. Verition Fund Management LLC now owns 22,677 shares of the investment management company's stock worth $131,000 after purchasing an additional 2,800 shares during the last quarter. O Shaughnessy Asset Management LLC increased its holdings in TriplePoint Venture Growth BDC by 13.8% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 24,152 shares of the investment management company's stock valued at $158,000 after purchasing an additional 2,921 shares during the period. Finally, Rockefeller Capital Management L.P. increased its holdings in TriplePoint Venture Growth BDC by 75.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 7,000 shares of the investment management company's stock valued at $46,000 after purchasing an additional 3,000 shares during the period. 12.77% of the stock is owned by institutional investors and hedge funds.

TriplePoint Venture Growth BDC Company Profile

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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