TriplePoint Venture Growth BDC (NYSE:TPVG) Hits New 1-Year High at $16.92

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG)’s stock price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $16.92 and last traded at $16.89, with a volume of 7588 shares trading hands. The stock had previously closed at $16.30.

Several analysts have issued reports on the company. Piper Sandler assumed coverage on TriplePoint Venture Growth BDC in a report on Monday, July 12th. They issued an “overweight” rating and a $17.00 target price for the company. Compass Point upgraded TriplePoint Venture Growth BDC from a “neutral” rating to a “buy” rating and upped their target price for the company from $15.50 to $16.50 in a report on Tuesday, September 21st. Zacks Investment Research cut TriplePoint Venture Growth BDC from a “hold” rating to a “sell” rating in a report on Saturday, August 7th. Finally, JMP Securities increased their price target on TriplePoint Venture Growth BDC from $16.00 to $16.50 and gave the stock a “market outperform” rating in a report on Friday, August 6th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $16.67.

The firm has a market capitalization of $525.84 million, a PE ratio of 11.73, a PEG ratio of 2.89 and a beta of 1.88. The business has a fifty day moving average price of $15.65 and a two-hundred day moving average price of $15.54.

TriplePoint Venture Growth BDC (NYSE:TPVG) last released its quarterly earnings results on Wednesday, August 4th. The investment management company reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.03). The business had revenue of $20.32 million for the quarter, compared to analysts’ expectations of $21.80 million. TriplePoint Venture Growth BDC had a return on equity of 10.50% and a net margin of 49.57%. On average, sell-side analysts expect that TriplePoint Venture Growth BDC Corp. will post 1.32 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 15th. Investors of record on Tuesday, August 31st were paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 8.48%. The ex-dividend date of this dividend was Monday, August 30th. TriplePoint Venture Growth BDC’s payout ratio is 91.72%.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Van ECK Associates Corp lifted its stake in TriplePoint Venture Growth BDC by 17.7% during the 1st quarter. Van ECK Associates Corp now owns 542,366 shares of the investment management company’s stock worth $7,837,000 after acquiring an additional 81,562 shares in the last quarter. Hennion & Walsh Asset Management Inc. acquired a new position in TriplePoint Venture Growth BDC during the 1st quarter worth about $1,409,000. Advisor Group Holdings Inc. lifted its stake in TriplePoint Venture Growth BDC by 32.6% during the 2nd quarter. Advisor Group Holdings Inc. now owns 90,046 shares of the investment management company’s stock worth $1,368,000 after acquiring an additional 22,113 shares in the last quarter. Lebenthal Global Advisors LLC lifted its stake in TriplePoint Venture Growth BDC by 55.4% during the 2nd quarter. Lebenthal Global Advisors LLC now owns 16,348 shares of the investment management company’s stock worth $248,000 after acquiring an additional 5,828 shares in the last quarter. Finally, Virtus ETF Advisers LLC raised its position in TriplePoint Venture Growth BDC by 11.2% in the 1st quarter. Virtus ETF Advisers LLC now owns 32,164 shares of the investment management company’s stock valued at $465,000 after purchasing an additional 3,232 shares in the last quarter. 23.88% of the stock is currently owned by hedge funds and other institutional investors.

About TriplePoint Venture Growth BDC (NYSE:TPVG)

TriplePoint Venture Growth BDC Corp. (the “Company“) is an externally managed, closed-end, non-diversified management investment company that has elected to be regulated as a business development company under the Investment Company Act of 1940, as amended. It was formed to expand the venture growth stage business segment of its sponsor, TriplePoint Capital LLC (“TriplePoint Capital“).

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