TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) Receives $10.38 Average Target Price from Analysts

Shares of TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) have received an average recommendation of “Reduce” from the five analysts that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation and four have issued a hold recommendation on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $10.38.

Several analysts have commented on the stock. Wells Fargo & Company lowered their price objective on shares of TriplePoint Venture Growth BDC from $11.00 to $9.50 and set an “equal weight” rating for the company in a report on Thursday, March 7th. Compass Point upgraded shares of TriplePoint Venture Growth BDC from a “sell” rating to a “neutral” rating and set a $8.75 price objective for the company in a report on Friday, March 22nd. Keefe, Bruyette & Woods lowered their price objective on shares of TriplePoint Venture Growth BDC from $9.50 to $9.00 and set an “underperform” rating for the company in a report on Thursday, March 7th. Piper Sandler lowered their price objective on shares of TriplePoint Venture Growth BDC from $11.00 to $10.00 and set a “neutral” rating for the company in a report on Thursday, March 7th. Finally, StockNews.com lowered shares of TriplePoint Venture Growth BDC from a “hold” rating to a “sell” rating in a report on Thursday, March 7th.

Hedge Funds Weigh In On TriplePoint Venture Growth BDC

Several large investors have recently made changes to their positions in the business. CWM LLC raised 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 worth $25,000 after acquiring an additional 1,275 shares during the last quarter. Captrust Financial Advisors purchased a new position in TriplePoint Venture Growth BDC in the 2nd quarter worth approximately $25,000. Quarry LP raised its holdings in TriplePoint Venture Growth BDC by 43.7% in the 4th 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. BNP Paribas Arbitrage SA purchased a new position in TriplePoint Venture Growth BDC in the 2nd quarter worth approximately $36,000. Finally, Lazard Asset Management LLC purchased a new position in TriplePoint Venture Growth BDC in the 1st quarter worth approximately $39,000. 12.77% of the stock is currently owned by hedge funds and other institutional investors.

TriplePoint Venture Growth BDC Price Performance

NYSE TPVG opened at $9.14 on Friday. The stock has a market capitalization of $343.85 million, a PE ratio of -8.31 and a beta of 1.77. TriplePoint Venture Growth BDC has a 1 year low of $8.88 and a 1 year high of $12.70. The business’s 50-day moving average is $9.88 and its 200 day moving average is $10.30.

TriplePoint Venture Growth BDC (NYSE:TPVG) last posted its earnings results on Wednesday, March 6th. The investment management company reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.02). The business had revenue of $32.97 million during the quarter, compared to the consensus estimate of $33.38 million. TriplePoint Venture Growth BDC had a positive return on equity of 19.50% and a negative net margin of 28.96%. As a group, equities research analysts anticipate that TriplePoint Venture Growth BDC will post 1.69 earnings per share for the current year.

TriplePoint Venture Growth BDC Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 14th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $1.60 annualized dividend and a dividend yield of 17.51%. TriplePoint Venture Growth BDC’s payout ratio is -145.45%.

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.