TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) Receives Average Recommendation of “Reduce” from Analysts

Shares of TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) have been given an average rating of “Reduce” by the six research firms that are currently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a sell rating and four have given a hold rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $8.25.

TPVG has been the subject of a number of research reports. Wells Fargo & Company reissued an “underweight” rating and set a $8.50 target price (down previously from $9.50) on shares of TriplePoint Venture Growth BDC in a report on Wednesday, May 29th. Piper Sandler cut their price objective on shares of TriplePoint Venture Growth BDC from $9.50 to $8.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. LADENBURG THALM/SH SH cut shares of TriplePoint Venture Growth BDC from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $8.50 to $8.00 in a report on Friday, August 9th. Finally, Keefe, Bruyette & Woods cut their price target on TriplePoint Venture Growth BDC from $9.00 to $8.00 and set an “underperform” rating for the company in a research note on Friday, August 9th.

Insider Transactions at TriplePoint Venture Growth BDC

In other news, President Sajal Srivastava acquired 11,298 shares of the stock in a transaction on Monday, August 12th. The stock was acquired at an average cost of $7.02 per share, for a total transaction of $79,311.96. Following the completion of the transaction, the president now directly owns 250,858 shares in the company, valued at $1,761,023.16. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 0.01% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Van ECK Associates Corp boosted its stake in shares of 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 valued at $6,799,000 after purchasing an additional 119,184 shares in the last quarter. Millennium Management LLC boosted its position in 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 valued at $3,471,000 after buying an additional 271,824 shares in the last quarter. Marshall Wace LLP bought a new stake in shares of TriplePoint Venture Growth BDC during the second quarter worth $1,486,000. Norden Group LLC increased its holdings 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 worth $1,185,000 after buying an additional 110,132 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its stake in shares of TriplePoint Venture Growth BDC by 7.4% in the 4th quarter. International Assets Investment Management LLC now owns 116,495 shares of the investment management company’s stock valued at $1,265,000 after acquiring an additional 8,060 shares during the last quarter. Institutional investors own 12.77% of the company’s stock.

TriplePoint Venture Growth BDC Stock Performance

Shares of TPVG opened at $7.14 on Wednesday. The firm has a market cap of $270.22 million, a P/E ratio of -6.43 and a beta of 1.79. TriplePoint Venture Growth BDC has a 52 week low of $6.89 and a 52 week high of $11.58. The firm’s 50-day simple moving average is $7.90 and its 200 day simple moving average is $8.72.

TriplePoint Venture Growth BDC (NYSE:TPVG) last posted its earnings results on Wednesday, August 7th. The investment management company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.10). The firm had revenue of $27.11 million during the quarter, compared to analyst estimates of $28.77 million. TriplePoint Venture Growth BDC had a negative net margin of 8.03% and a positive return on equity of 18.24%. During the same period in the previous year, the company posted $0.53 EPS. As a group, equities analysts forecast that TriplePoint Venture Growth BDC will post 1.4 earnings per share for the current year.

TriplePoint Venture Growth BDC Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 16.81%. The ex-dividend date of this dividend is Monday, September 16th. TriplePoint Venture Growth BDC’s payout ratio is presently -108.11%.

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.