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

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) has received an average rating of “Reduce” from the five ratings firms that are presently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation and three have given a hold recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $9.55.

Several equities analysts have weighed in on the company. Keefe, Bruyette & Woods restated an “underperform” rating and set a $9.00 target price on shares of TriplePoint Venture Growth BDC in a report on Tuesday, June 18th. Wells Fargo & Company reissued an “underweight” rating and issued a $8.50 price objective (down from $9.50) on shares of TriplePoint Venture Growth BDC in a research note on Wednesday, May 29th.

Hedge Funds Weigh In On TriplePoint Venture Growth BDC

Institutional investors have recently made changes to their positions in the business. CWM LLC grew its holdings in TriplePoint Venture Growth BDC by 127.5% in the 4th quarter. CWM LLC now owns 2,275 shares of the investment management company’s stock valued at $25,000 after buying an additional 1,275 shares during the last quarter. Quarry LP grew its stake in shares of TriplePoint Venture Growth BDC by 43.7% in the fourth quarter. Quarry LP now owns 3,143 shares of the investment management company’s stock worth $34,000 after acquiring an additional 956 shares during the last quarter. Farmers & Merchants Investments Inc. grew its stake in shares of TriplePoint Venture Growth BDC by 94.3% in the fourth quarter. Farmers & Merchants Investments Inc. now owns 4,533 shares of the investment management company’s stock worth $49,000 after acquiring an additional 2,200 shares during the last quarter. Cape Investment Advisory Inc. bought a new position in TriplePoint Venture Growth BDC during the fourth quarter worth $79,000. Finally, Hartline Investment Corp acquired a new position in TriplePoint Venture Growth BDC during the 1st quarter valued at $98,000. 12.77% of the stock is currently owned by institutional investors.

TriplePoint Venture Growth BDC Price Performance

Shares of TriplePoint Venture Growth BDC stock opened at $8.87 on Tuesday. The stock has a 50-day simple moving average of $8.77 and a 200-day simple moving average of $9.59. TriplePoint Venture Growth BDC has a 52-week low of $7.91 and a 52-week high of $12.70. The firm has a market cap of $335.73 million, a price-to-earnings ratio of -7.99 and a beta of 1.78.

TriplePoint Venture Growth BDC (NYSE:TPVG) last posted its earnings results on Wednesday, May 1st. The investment management company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.03). The business had revenue of $29.27 million during the quarter, compared to the consensus estimate of $31.25 million. TriplePoint Venture Growth BDC had a positive return on equity of 19.64% and a negative net margin of 29.68%. During the same period in the prior year, the firm earned $0.53 earnings per share. As a group, equities research analysts predict that TriplePoint Venture Growth BDC will post 1.58 earnings per share for the current year.

TriplePoint Venture Growth BDC Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 18.04%. The ex-dividend date of this dividend was Friday, June 14th. TriplePoint Venture Growth BDC’s dividend payout ratio (DPR) is -144.14%.

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.