TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) Given Consensus Rating of “Hold” by Brokerages

Shares of TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) have received an average rating of “Hold” from the six ratings firms that are covering the company, Marketbeat.com reports. Six equities research analysts have rated the stock with a hold rating. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $7.85.

Several research firms have issued reports on TPVG. LADENBURG THALM/SH SH cut TriplePoint Venture Growth BDC from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $8.50 to $8.00 in a research report on Friday, August 9th. Wells Fargo & Company increased their price objective on TriplePoint Venture Growth BDC from $6.50 to $7.50 and gave the stock an “equal weight” rating in a research report on Tuesday, November 19th. Piper Sandler dropped their price target on TriplePoint Venture Growth BDC from $8.00 to $7.50 and set a “neutral” rating for the company in a research report on Thursday, November 7th. StockNews.com raised TriplePoint Venture Growth BDC from a “sell” rating to a “hold” rating in a research note on Friday, November 15th. Finally, Keefe, Bruyette & Woods raised TriplePoint Venture Growth BDC from an “underperform” rating to a “market perform” rating and decreased their price objective for the company from $8.00 to $7.50 in a research note on Thursday, November 7th.

Institutional Trading of TriplePoint Venture Growth BDC

A number of hedge funds have recently added to or reduced their stakes in the business. Quarry LP acquired a new position in shares of TriplePoint Venture Growth BDC in the 2nd quarter valued at about $35,000. McIlrath & Eck LLC purchased a new stake in shares of TriplePoint Venture Growth BDC during the 3rd quarter valued at about $51,000. EverSource Wealth Advisors LLC purchased a new stake in TriplePoint Venture Growth BDC during the 2nd quarter worth approximately $62,000. Diversify Wealth Management LLC purchased a new stake in TriplePoint Venture Growth BDC during the 3rd quarter worth approximately $82,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in TriplePoint Venture Growth BDC during the 3rd quarter worth approximately $83,000. 12.77% of the stock is owned by institutional investors and hedge funds.

TriplePoint Venture Growth BDC Trading Up 1.5 %

TPVG stock opened at $8.16 on Monday. TriplePoint Venture Growth BDC has a twelve month low of $6.44 and a twelve month high of $11.58. The business has a 50 day simple moving average of $7.09 and a 200-day simple moving average of $7.94. The company has a market capitalization of $326.81 million, a P/E ratio of 38.86 and a beta of 1.80.

TriplePoint Venture Growth BDC (NYSE:TPVG) last released its quarterly earnings results on Wednesday, November 6th. The investment management company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.34 by $0.01. The business had revenue of $26.52 million during the quarter, compared to analysts’ expectations of $25.65 million. TriplePoint Venture Growth BDC had a return on equity of 16.86% and a net margin of 9.01%. During the same quarter in the prior year, the business earned $0.54 earnings per share. Research analysts predict that TriplePoint Venture Growth BDC will post 1.4 EPS for the current fiscal year.

TriplePoint Venture Growth BDC Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 14.71%. The ex-dividend date is Friday, December 13th. TriplePoint Venture Growth BDC’s payout ratio is 571.46%.

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.