ValuEngine Lowers Triplepoint Venture Growth BDC (NYSE:TPVG) to Sell

ValuEngine lowered shares of Triplepoint Venture Growth BDC (NYSE:TPVG) from a hold rating to a sell rating in a report issued on Monday, ValuEngine reports.

TPVG has been the subject of a number of other research reports. Zacks Investment Research raised Triplepoint Venture Growth BDC from a hold rating to a buy rating and set a $9.50 price target for the company in a report on Tuesday, March 17th. Wells Fargo & Co reduced their price target on Triplepoint Venture Growth BDC from $14.50 to $13.75 and set an overweight rating for the company in a report on Thursday, March 5th. JMP Securities assumed coverage on Triplepoint Venture Growth BDC in a report on Tuesday, January 14th. They issued an outperform rating and a $15.50 price target for the company. Finally, LADENBURG THALM/SH SH raised Triplepoint Venture Growth BDC from a neutral rating to a buy rating and set a $13.50 price target for the company in a report on Thursday, March 5th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. The stock currently has a consensus rating of Buy and an average price target of $13.00.

Shares of TPVG opened at $6.58 on Monday. The company has a market capitalization of $165.62 million, a P/E ratio of 5.10 and a beta of 1.03. Triplepoint Venture Growth BDC has a one year low of $2.80 and a one year high of $17.17. The stock has a 50-day moving average price of $11.23 and a 200 day moving average price of $14.19.

Triplepoint Venture Growth BDC (NYSE:TPVG) last issued its quarterly earnings results on Wednesday, March 4th. The investment management company reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.05. The firm had revenue of $21.27 million during the quarter, compared to the consensus estimate of $20.01 million. Triplepoint Venture Growth BDC had a return on equity of 11.27% and a net margin of 43.28%. Sell-side analysts anticipate that Triplepoint Venture Growth BDC will post 1.62 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Shareholders of record on Monday, March 16th will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 21.88%. The ex-dividend date is Friday, March 13th. Triplepoint Venture Growth BDC’s dividend payout ratio is presently 93.51%.

In other news, CFO Christopher M. Mathieu bought 5,000 shares of Triplepoint Venture Growth BDC stock in a transaction on Wednesday, March 25th. The shares were bought at an average price of $5.40 per share, with a total value of $27,000.00. Following the acquisition, the chief financial officer now directly owns 5,000 shares in the company, valued at approximately $27,000. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.71% of the company’s stock.

Large investors have recently added to or reduced their stakes in the business. Victory Capital Management Inc. lifted its holdings in Triplepoint Venture Growth BDC by 18.6% during the 4th quarter. Victory Capital Management Inc. now owns 5,301 shares of the investment management company’s stock worth $72,000 after buying an additional 832 shares during the last quarter. Bank of America Corp DE lifted its holdings in Triplepoint Venture Growth BDC by 126.9% during the 4th quarter. Bank of America Corp DE now owns 5,490 shares of the investment management company’s stock worth $78,000 after buying an additional 3,070 shares during the last quarter. Great West Life Assurance Co. Can bought a new position in Triplepoint Venture Growth BDC during the 4th quarter worth approximately $116,000. Greenwich Investment Management Inc. bought a new position in Triplepoint Venture Growth BDC during the 4th quarter worth approximately $155,000. Finally, Raymond James & Associates bought a new position in Triplepoint Venture Growth BDC during the 4th quarter worth approximately $178,000. 25.82% of the stock is currently owned by institutional investors.

About Triplepoint Venture Growth BDC

TriplePoint Venture Growth BDC Corp is a business development company specializing investments in growth stage. It also provides debt financing to venture growth space companies which includes growth capital loans, equipment financings, revolving loans, and direct equity investments. The fund seeks to invest in e-commerce, entertainment, technology and life sciences sector.

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Analyst Recommendations for Triplepoint Venture Growth BDC (NYSE:TPVG)

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