Analysts Set TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) Price Target at $9.55

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) has been given a consensus recommendation of “Reduce” by the five ratings firms that are currently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation and three have given a hold recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $9.55.

TPVG has been the topic of several recent research reports. Piper Sandler cut their target price on shares of TriplePoint Venture Growth BDC from $11.00 to $10.00 and set a “neutral” rating on the stock in a research report on Thursday, March 7th. Wells Fargo & Company reaffirmed an “underweight” rating and set a $8.50 target price (down from $9.50) on shares of TriplePoint Venture Growth BDC in a report on Wednesday, May 29th. Keefe, Bruyette & Woods reissued an “underperform” rating and issued a $9.00 price target on shares of TriplePoint Venture Growth BDC in a research note on Tuesday, June 18th. Compass Point raised TriplePoint Venture Growth BDC from a “sell” rating to a “neutral” rating and set a $8.75 price objective on the stock in a research note on Friday, March 22nd. Finally, StockNews.com downgraded shares of TriplePoint Venture Growth BDC from a “hold” rating to a “sell” rating in a research report on Thursday, March 7th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of TPVG. CWM LLC raised its holdings in shares of TriplePoint Venture Growth BDC by 127.5% during the fourth quarter. CWM LLC now owns 2,275 shares of the investment management company’s stock valued at $25,000 after purchasing an additional 1,275 shares during the period. Quarry LP grew its stake in 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 valued at $34,000 after acquiring an additional 956 shares during the period. Farmers & Merchants Investments Inc. grew its stake in 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 valued at $49,000 after acquiring an additional 2,200 shares during the period. Cape Investment Advisory Inc. bought a new stake in shares of TriplePoint Venture Growth BDC during the fourth quarter valued at approximately $79,000. Finally, Summitry LLC acquired a new position in shares of TriplePoint Venture Growth BDC during the fourth quarter worth approximately $109,000. 12.77% of the stock is owned by institutional investors.

TriplePoint Venture Growth BDC Price Performance

TPVG stock opened at $8.06 on Friday. TriplePoint Venture Growth BDC has a 1 year low of $7.91 and a 1 year high of $12.70. The stock has a market cap of $304.88 million, a price-to-earnings ratio of -7.26 and a beta of 1.78. The company has a 50 day simple moving average of $9.09 and a 200 day simple moving average of $9.92.

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

TriplePoint Venture Growth BDC Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $1.60 dividend on an annualized basis and a yield of 19.86%. TriplePoint Venture Growth BDC’s payout ratio is currently -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.