Analysts Set TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) Price Target at $7.70

Shares of TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) have been assigned an average rating of “Hold” from the six research firms that are currently covering the stock, Marketbeat.com reports. Six analysts have rated the stock with a hold recommendation. The average 12-month price objective among brokers that have covered the stock in the last year is $7.70.

TPVG has been the subject of a number of analyst reports. Keefe, Bruyette & Woods upgraded TriplePoint Venture Growth BDC from an “underperform” rating to a “market perform” rating and reduced their price target for the stock from $8.00 to $7.50 in a research report on Thursday, November 7th. Piper Sandler decreased their target price on shares of TriplePoint Venture Growth BDC from $8.00 to $7.50 and set a “neutral” rating for the company in a research report on Thursday, November 7th. Wells Fargo & Company raised their target price on shares of TriplePoint Venture Growth BDC from $6.50 to $7.50 and gave the company an “equal weight” rating in a research note on Tuesday, November 19th. Compass Point upped their price target on shares of TriplePoint Venture Growth BDC from $7.50 to $8.00 and gave the stock a “neutral” rating in a research note on Thursday, December 5th. Finally, StockNews.com upgraded shares of TriplePoint Venture Growth BDC from a “sell” rating to a “hold” rating in a research note on Friday, November 15th.

Institutional Investors Weigh In On TriplePoint Venture Growth BDC

A number of institutional investors and hedge funds have recently modified their holdings of TPVG. Van ECK Associates Corp increased its stake in TriplePoint Venture Growth BDC by 16.4% in the 2nd quarter. Van ECK Associates Corp now owns 846,716 shares of the investment management company’s stock worth $6,799,000 after purchasing an additional 119,184 shares in the last quarter. Millennium Management LLC increased its position in shares of TriplePoint Venture Growth BDC by 169.5% in the second quarter. Millennium Management LLC now owns 432,206 shares of the investment management company’s stock worth $3,471,000 after acquiring an additional 271,824 shares in the last quarter. Marshall Wace LLP acquired a new stake in shares of TriplePoint Venture Growth BDC during the second quarter valued at approximately $1,486,000. International Assets Investment Management LLC lifted its position in shares of TriplePoint Venture Growth BDC by 435.6% in the 3rd quarter. International Assets Investment Management LLC now owns 107,630 shares of the investment management company’s stock valued at $760,000 after acquiring an additional 87,535 shares in the last quarter. Finally, Jane Street Group LLC boosted its stake in TriplePoint Venture Growth BDC by 712.4% in the 3rd quarter. Jane Street Group LLC now owns 104,997 shares of the investment management company’s stock worth $741,000 after purchasing an additional 92,072 shares during the period. 12.77% of the stock is owned by institutional investors and hedge funds.

TriplePoint Venture Growth BDC Price Performance

Shares of TPVG opened at $7.49 on Friday. TriplePoint Venture Growth BDC has a 12 month low of $6.44 and a 12 month high of $11.58. The stock has a fifty day moving average price of $7.51 and a 200 day moving average price of $7.71. The company has a market cap of $299.97 million, a P/E ratio of 35.67 and a beta of 1.87.

TriplePoint Venture Growth BDC (NYSE:TPVG) last announced its quarterly earnings results on Wednesday, November 6th. The investment management company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.34 by $0.01. The company had revenue of $26.52 million for the quarter, compared to analyst estimates of $25.65 million. TriplePoint Venture Growth BDC had a net margin of 9.01% and a return on equity of 16.86%. During the same quarter last year, the business earned $0.54 earnings per share. As a group, research analysts anticipate that TriplePoint Venture Growth BDC will post 1.4 earnings per share for the current year.

TriplePoint Venture Growth BDC Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 16.02%. The ex-dividend date is Friday, December 13th. TriplePoint Venture Growth BDC’s payout ratio is 571.43%.

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.