Shares of TriplePoint Venture Growth BDC Corp. (NYSE:TPVG – Get Free Report) passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $5.62 and traded as low as $4.90. TriplePoint Venture Growth BDC shares last traded at $5.0840, with a volume of 183,031 shares changing hands.
Wall Street Analyst Weigh In
TPVG has been the subject of several analyst reports. Weiss Ratings restated a “sell (d+)” rating on shares of TriplePoint Venture Growth BDC in a report on Tuesday, June 9th. Keefe, Bruyette & Woods dropped their target price on shares of TriplePoint Venture Growth BDC from $7.00 to $6.50 and set a “market perform” rating on the stock in a report on Thursday, March 5th. Wells Fargo & Company decreased their price target on TriplePoint Venture Growth BDC from $5.50 to $5.00 and set an “underweight” rating for the company in a report on Thursday, March 5th. Piper Sandler cut their target price on TriplePoint Venture Growth BDC from $6.00 to $5.50 and set a “neutral” rating on the stock in a research report on Tuesday, April 7th. Finally, Zacks Research raised TriplePoint Venture Growth BDC from a “strong sell” rating to a “hold” rating in a research note on Friday, May 15th. Four investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and an average price target of $5.62.
View Our Latest Analysis on TriplePoint Venture Growth BDC
TriplePoint Venture Growth BDC Price Performance
TriplePoint Venture Growth BDC (NYSE:TPVG – Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The investment management company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.02). The company had revenue of $19.81 million during the quarter, compared to the consensus estimate of $23.14 million. TriplePoint Venture Growth BDC had a net margin of 46.77% and a return on equity of 11.54%. Equities research analysts expect that TriplePoint Venture Growth BDC Corp. will post 0.95 earnings per share for the current fiscal year.
TriplePoint Venture Growth BDC Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th were paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 18.7%. The ex-dividend date of this dividend was Tuesday, June 16th. TriplePoint Venture Growth BDC’s dividend payout ratio is 86.79%.
Hedge Funds Weigh In On TriplePoint Venture Growth BDC
A number of institutional investors have recently modified their holdings of the company. Verition Fund Management LLC lifted its holdings in shares of TriplePoint Venture Growth BDC by 14.1% in the 3rd quarter. Verition Fund Management LLC now owns 22,677 shares of the investment management company’s stock worth $131,000 after purchasing an additional 2,800 shares in the last quarter. Squarepoint Ops LLC bought a new stake in TriplePoint Venture Growth BDC during the 4th quarter valued at $121,000. Oxford Asset Management LLP acquired a new position in TriplePoint Venture Growth BDC during the fourth quarter worth $74,000. Northwestern Mutual Wealth Management Co. bought a new position in shares of TriplePoint Venture Growth BDC in the second quarter valued at $35,000. Finally, Advisory Services Network LLC bought a new position in shares of TriplePoint Venture Growth BDC in the third quarter valued at $33,000. 12.77% of the stock is owned by institutional investors and hedge funds.
About TriplePoint Venture Growth BDC
TriplePoint Venture Growth BDC Inc is a closed-end management investment company externally managed by TriplePoint Capital LLC. The firm specializes in providing customized debt and equity financing to growth-stage, venture capital– and private equity–backed companies. Its financing solutions include senior secured loans, unitranche facilities, subordinated debt and selective equity co-investments tailored to support expansion, working capital needs and strategic initiatives.
Launched in September 2018 and listed on the New York Stock Exchange under the symbol TPVG, TriplePoint Venture Growth BDC leverages the deep industry expertise and established underwriting capabilities of TriplePoint Capital, a venture lender since 2003.
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