TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) Receives $6.96 Consensus Target Price from Analysts

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

TPVG has been the topic of a number of recent analyst reports. Wells Fargo & Company lowered their target price on shares of TriplePoint Venture Growth BDC from $6.50 to $5.50 and set an "underweight" rating on the stock in a research note on Monday. Compass Point lowered their target price on shares of TriplePoint Venture Growth BDC from $8.00 to $7.25 and set a "neutral" rating on the stock in a research note on Tuesday, March 18th. Piper Sandler lowered their target price on shares of TriplePoint Venture Growth BDC from $8.00 to $7.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. Keefe, Bruyette & Woods lowered their target price on shares of TriplePoint Venture Growth BDC from $7.50 to $7.00 and set a "market perform" rating on the stock in a research note on Tuesday, April 8th. Finally, UBS Group lowered their target price 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

Several institutional investors have recently added to or reduced their stakes in TPVG. U.S. Capital Wealth Advisors LLC increased its position in shares of TriplePoint Venture Growth BDC by 25.1% in the first quarter. U.S. Capital Wealth Advisors LLC now owns 32,780 shares of the investment management company's stock valued at $229,000 after acquiring an additional 6,580 shares during the period. Cambridge Investment Research Advisors Inc. increased its position in shares of TriplePoint Venture Growth BDC by 16.2% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 13,132 shares of the investment management company's stock valued at $92,000 after acquiring an additional 1,833 shares during the period. Alpine Global Management LLC purchased a new position in shares of TriplePoint Venture Growth BDC in the fourth quarter valued at about $477,000. PharVision Advisers LLC purchased a new position in shares of TriplePoint Venture Growth BDC in the fourth quarter valued at about $84,000. Finally, Two Sigma Advisers LP increased its position in shares of TriplePoint Venture Growth BDC by 6.5% in the fourth quarter. Two Sigma Advisers LP now owns 830,492 shares of the investment management company's stock valued at $6,129,000 after acquiring an additional 50,800 shares during the period. Hedge funds and other institutional investors own 12.77% of the company's stock.

TriplePoint Venture Growth BDC Price Performance

Shares of TPVG traded down $0.13 during midday trading on Friday, hitting $6.08. 232,794 shares of the company traded hands, compared to its average volume of 388,671. The stock has a 50-day moving average of $6.82 and a 200-day moving average of $7.32. TriplePoint Venture Growth BDC has a one year low of $5.53 and a one year high of $9.70. The firm has a market cap of $244.03 million, a P/E ratio of 28.95 and a beta of 1.65.

TriplePoint Venture Growth BDC (NYSE:TPVG - Get Free Report) last posted its quarterly earnings data on Wednesday, March 5th. The investment management company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.03). The company had revenue of $25.75 million during the quarter, compared to the consensus estimate of $26.68 million. TriplePoint Venture Growth BDC had a return on equity of 16.86% and a net margin of 9.01%. Sell-side analysts forecast that TriplePoint Venture Growth BDC will post 1.4 EPS for the current fiscal year.

TriplePoint Venture Growth BDC Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 19.74%. The ex-dividend date was Monday, March 17th. TriplePoint Venture Growth BDC's payout ratio is 146.34%.

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.