TriplePoint Venture Growth BDC (NYSE:TPVG) Lowered to “Neutral” at LADENBURG THALM/SH SH

LADENBURG THALM/SH SH lowered shares of TriplePoint Venture Growth BDC (NYSE:TPVG) from a buy rating to a neutral rating in a research report report published on Friday, MarketBeat.com reports. They currently have $8.00 price target on the investment management company’s stock, down from their prior price target of $8.50.

Other equities analysts also recently issued reports about the stock. Wells Fargo & Company reissued an underweight rating and issued a $8.50 price target (down from $9.50) on shares of TriplePoint Venture Growth BDC in a report on Wednesday, May 29th. Piper Sandler reduced their price objective on TriplePoint Venture Growth BDC from $9.50 to $8.00 and set a neutral rating on the stock in a research report on Thursday. Finally, 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. Three equities research analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. According to MarketBeat.com, TriplePoint Venture Growth BDC has an average rating of Hold and an average target price of $8.79.

TriplePoint Venture Growth BDC Stock Down 3.5 %

TPVG stock traded down $0.26 during mid-day trading on Friday, reaching $7.21. 1,208,630 shares of the company traded hands, compared to its average volume of 365,028. The stock has a market cap of $272.87 million, a price-to-earnings ratio of -6.50 and a beta of 1.78. TriplePoint Venture Growth BDC has a fifty-two week low of $7.10 and a fifty-two week high of $11.58. The firm’s 50 day moving average price is $8.55 and its 200 day moving average price is $9.41.

TriplePoint Venture Growth BDC (NYSE:TPVG) last announced its quarterly earnings results on Wednesday, August 7th. The investment management company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.10). The company had revenue of $27.11 million for the quarter, compared to the consensus estimate of $28.77 million. TriplePoint Venture Growth BDC had a positive return on equity of 19.64% and a negative net margin of 29.68%. During the same quarter last year, the company posted $0.53 EPS. On average, analysts anticipate that TriplePoint Venture Growth BDC will post 1.58 EPS for the current fiscal year.

TriplePoint Venture Growth BDC Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 16.64%. The ex-dividend date is Monday, September 16th. TriplePoint Venture Growth BDC’s dividend payout ratio (DPR) is currently -108.11%.

Hedge Funds Weigh In On TriplePoint Venture Growth BDC

Hedge funds have recently made changes to their positions in the business. International Assets Investment Management LLC boosted its holdings in TriplePoint Venture Growth BDC by 1,066.7% in the fourth quarter. International Assets Investment Management LLC now owns 1,265,136 shares of the investment management company’s stock valued at $13,739,000 after acquiring an additional 1,156,701 shares in the last quarter. Van ECK Associates Corp boosted its stake in shares of TriplePoint Venture Growth BDC by 16.4% during the 2nd quarter. Van ECK Associates Corp now owns 846,716 shares of the investment management company’s stock valued at $6,799,000 after purchasing an additional 119,184 shares in the last quarter. Norden Group LLC increased its position in shares of TriplePoint Venture Growth BDC by 739.7% during the first quarter. Norden Group LLC now owns 125,020 shares of the investment management company’s stock valued at $1,185,000 after buying an additional 110,132 shares during the period. Quadrature Capital Ltd bought a new position in TriplePoint Venture Growth BDC in the fourth quarter worth about $655,000. Finally, Strategic Financial Concepts LLC bought a new position in shares of TriplePoint Venture Growth BDC in the 2nd quarter worth about $430,000. 12.77% of the stock is owned by hedge funds and other institutional investors.

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.