Shares of TriplePoint Venture Growth BDC Corp. (NYSE:TPVG – Get Free Report) crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $5.81 and traded as low as $5.53. TriplePoint Venture Growth BDC shares last traded at $5.6890, with a volume of 172,141 shares traded.
Analyst Ratings Changes
TPVG has been the subject of several analyst reports. Piper Sandler lowered their price target on shares of TriplePoint Venture Growth BDC from $6.00 to $5.50 and set a “neutral” rating for the company in a research report on Tuesday, April 7th. Keefe, Bruyette & Woods lowered their price target on shares of TriplePoint Venture Growth BDC from $7.00 to $6.50 and set a “market perform” rating for the company in a research report on Thursday, March 5th. Wells Fargo & Company lowered their price target on shares of TriplePoint Venture Growth BDC from $5.50 to $5.00 and set an “underweight” rating for the company in a research report on Thursday, March 5th. Weiss Ratings cut shares of TriplePoint Venture Growth BDC from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, March 12th. Finally, Zacks Research upgraded shares of TriplePoint Venture Growth BDC from a “strong sell” rating to a “hold” rating in a research report on Friday, May 15th. Four investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, TriplePoint Venture Growth BDC has a consensus rating of “Reduce” and a consensus target price of $5.63.
View Our Latest Stock Analysis on TPVG
TriplePoint Venture Growth BDC Price Performance
TriplePoint Venture Growth BDC (NYSE:TPVG – Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The investment management company reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.02). TriplePoint Venture Growth BDC had a net margin of 46.77% and a return on equity of 11.54%. The business had revenue of $19.81 million during the quarter, compared to analyst estimates of $23.14 million. Sell-side analysts expect that TriplePoint Venture Growth BDC Corp. will post 0.95 EPS for the current fiscal year.
TriplePoint Venture Growth BDC Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a $0.92 annualized dividend and a dividend yield of 16.2%. TriplePoint Venture Growth BDC’s dividend payout ratio is currently 86.79%.
Institutional Investors Weigh In On TriplePoint Venture Growth BDC
Institutional investors have recently added to or reduced their stakes in the stock. Summit Securities Group LLC lifted its position in TriplePoint Venture Growth BDC by 257.1% in the 1st quarter. Summit Securities Group LLC now owns 5,000 shares of the investment management company’s stock valued at $25,000 after acquiring an additional 3,600 shares in the last quarter. Northwestern Mutual Wealth Management Co. bought a new stake in TriplePoint Venture Growth BDC in the 2nd quarter valued at $35,000. Advisory Services Network LLC bought a new stake in TriplePoint Venture Growth BDC in the 3rd quarter valued at $33,000. Rockefeller Capital Management L.P. lifted its position in TriplePoint Venture Growth BDC by 75.0% in 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 acquiring an additional 3,000 shares in the last quarter. Finally, Farmers & Merchants Investments Inc. lifted its position in TriplePoint Venture Growth BDC by 221.7% in the 4th quarter. Farmers & Merchants Investments Inc. now owns 10,293 shares of the investment management company’s stock valued at $67,000 after acquiring an additional 7,093 shares in the last quarter. 12.77% of the stock is owned by institutional investors.
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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