TriplePoint Venture Growth BDC Corp. (NYSE:TPVG - Get Free Report) shares passed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $6.71 and traded as high as $7.03. TriplePoint Venture Growth BDC shares last traded at $7.02, with a volume of 148,464 shares traded.
Wall Street Analyst Weigh In
Several equities research analysts have recently weighed in on TPVG shares. UBS Group reduced 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. Piper Sandler decreased their price target on shares of TriplePoint Venture Growth BDC from $8.00 to $7.00 and set a "neutral" rating for the company in a research report on Tuesday, April 8th. Compass Point decreased their price objective on shares of TriplePoint Venture Growth BDC from $8.00 to $7.25 and set a "neutral" rating for the company in a research report on Tuesday, March 18th. Wells Fargo & Company decreased their price objective on shares of TriplePoint Venture Growth BDC from $6.50 to $5.50 and set an "underweight" rating for the company in a research report on Monday, April 28th. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of TriplePoint Venture Growth BDC from $7.50 to $7.00 and set a "market perform" rating for the company in a research report on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating and six have given a hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $6.79.
Check Out Our Latest Stock Report on TPVG
TriplePoint Venture Growth BDC Trading Up 0.4%
The stock has a market capitalization of $284.02 million, a PE ratio of 5.54 and a beta of 1.46. The firm's fifty day moving average price is $6.74 and its two-hundred day moving average price is $7.09.
TriplePoint Venture Growth BDC (NYSE:TPVG - Get Free Report) last posted its earnings results on Wednesday, May 7th. The investment management company reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.03). The firm had revenue of $22.45 million for the quarter, compared to analysts' expectations of $24.90 million. TriplePoint Venture Growth BDC had a net margin of 36.10% and a return on equity of 14.12%. As a group, sell-side analysts anticipate that TriplePoint Venture Growth BDC Corp. will post 1.4 earnings per share for the current fiscal year.
TriplePoint Venture Growth BDC Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Monday, June 16th. This represents a $1.20 annualized dividend and a dividend yield of 17.00%. TriplePoint Venture Growth BDC's payout ratio is 129.03%.
Hedge Funds Weigh In On TriplePoint Venture Growth BDC
A number of hedge funds have recently made changes to their positions in the stock. Quarry LP lifted its holdings in shares of TriplePoint Venture Growth BDC by 53.6% during the first quarter. Quarry LP now owns 4,669 shares of the investment management company's stock worth $33,000 after purchasing an additional 1,629 shares during the period. PharVision Advisers LLC grew its holdings in TriplePoint Venture Growth BDC by 15.7% in the 1st quarter. PharVision Advisers LLC now owns 13,193 shares of the investment management company's stock valued at $92,000 after buying an additional 1,789 shares during the period. Cambridge Investment Research Advisors Inc. lifted its stake in shares of TriplePoint Venture Growth BDC by 16.2% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 13,132 shares of the investment management company's stock valued at $92,000 after purchasing an additional 1,833 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of TriplePoint Venture Growth BDC by 25.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 10,000 shares of the investment management company's stock valued at $74,000 after purchasing an additional 2,000 shares in the last quarter. Finally, Legal & General Group Plc grew its holdings in 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 valued at $1,951,000 after purchasing an additional 3,418 shares in the last quarter. Hedge funds and other institutional investors own 12.77% of the company's stock.
TriplePoint Venture Growth BDC Company Profile
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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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