TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) Given Consensus Recommendation of “Reduce” by Analysts

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG – Get Free Report) has been given a consensus rating of “Reduce” by the six ratings firms that are currently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a sell rating and four have given a hold rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $5.25.

A number of brokerages recently issued reports on TPVG. Weiss Ratings downgraded shares of TriplePoint Venture Growth BDC from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, September 1st. Piper Sandler cut their price objective on shares of TriplePoint Venture Growth BDC from $5.50 to $5.00 and set a “neutral” rating for the company in a report on Monday, July 13th. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of TriplePoint Venture Growth BDC from $6.00 to $5.50 and set a “market perform” rating for the company in a research report on Thursday, August 6th.

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Hedge Funds Weigh In On TriplePoint Venture Growth BDC

A number of hedge funds have recently bought and sold shares of the business. Summit Securities Group LLC grew its holdings in TriplePoint Venture Growth BDC by 257.1% in the first quarter. Summit Securities Group LLC now owns 5,000 shares of the investment management company’s stock valued at $25,000 after purchasing an additional 3,600 shares during the period. Advisory Services Network LLC acquired a new position in shares of TriplePoint Venture Growth BDC during the 3rd quarter worth approximately $33,000. Northwestern Mutual Wealth Management Co. acquired a new position in shares of TriplePoint Venture Growth BDC during the 2nd quarter worth approximately $35,000. Rockefeller Capital Management L.P. lifted its position in shares of TriplePoint Venture Growth BDC by 75.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 7,000 shares of the investment management company’s stock valued at $46,000 after buying an additional 3,000 shares in the last quarter. Finally, Farmers & Merchants Investments Inc. lifted its position in shares of TriplePoint Venture Growth BDC by 221.7% during the 4th quarter. Farmers & Merchants Investments Inc. now owns 10,293 shares of the investment management company’s stock valued at $67,000 after buying an additional 7,093 shares in the last quarter. Hedge funds and other institutional investors own 12.77% of the company’s stock.

TriplePoint Venture Growth BDC Trading Up 0.1%

Shares of NYSE:TPVG opened at $5.17 on Monday. TriplePoint Venture Growth BDC has a 12-month low of $4.39 and a 12-month high of $6.95. The business has a 50 day moving average of $5.01 and a two-hundred day moving average of $5.18. The company has a market capitalization of $210.27 million, a PE ratio of 5.22 and a beta of 1.31.

TriplePoint Venture Growth BDC (NYSE:TPVG – Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The investment management company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.02. The business had revenue of $24.48 million for the quarter, compared to analysts’ expectations of $22.88 million. TriplePoint Venture Growth BDC had a net margin of 44.58% and a return on equity of 10.68%. Equities research analysts predict that TriplePoint Venture Growth BDC will post 0.94 earnings per share for the current fiscal year.

TriplePoint Venture Growth BDC Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 30th. Investors of record on Wednesday, December 16th will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 4.6%. The ex-dividend date is Wednesday, December 16th. TriplePoint Venture Growth BDC’s payout ratio is currently 92.93%.

About TriplePoint Venture Growth BDC

(Get Free Report)

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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