TriplePoint Venture Growth BDC (NYSE:TPVG) Upgraded at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods upgraded shares of TriplePoint Venture Growth BDC (NYSE:TPVG) from an underperform rating to a market perform rating in a research report report published on Thursday morning, MarketBeat reports. The brokerage currently has $7.50 target price on the investment management company’s stock, down from their previous target price of $8.00.

Several other equities research analysts also recently issued reports on TPVG. LADENBURG THALM/SH SH downgraded shares of TriplePoint Venture Growth BDC from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $8.50 to $8.00 in a research report on Friday, August 9th. Piper Sandler lowered 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 research report on Thursday, August 8th. Finally, Wells Fargo & Company lowered their price objective on shares of TriplePoint Venture Growth BDC from $8.00 to $6.50 and set an “underweight” rating for the company in a research report on Tuesday, October 29th. Two analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $7.65.

TriplePoint Venture Growth BDC Stock Performance

Shares of NYSE:TPVG opened at $7.87 on Thursday. TriplePoint Venture Growth BDC has a 52 week low of $6.44 and a 52 week high of $11.58. The company has a market capitalization of $315.19 million, a PE ratio of 37.48 and a beta of 1.80. The company has a 50 day moving average price of $7.00 and a two-hundred day moving average price of $8.04.

TriplePoint Venture Growth BDC (NYSE:TPVG) last issued its quarterly earnings data on Wednesday, November 6th. The investment management company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.01. TriplePoint Venture Growth BDC had a net margin of 9.01% and a return on equity of 16.86%. The company had revenue of $26.52 million during the quarter, compared to the consensus estimate of $25.65 million. During the same quarter in the prior year, the firm earned $0.54 earnings per share. On average, sell-side analysts forecast that TriplePoint Venture Growth BDC will post 1.4 earnings per share for the current year.

TriplePoint Venture Growth BDC Dividend Announcement

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 annualized dividend and a yield of 15.25%. The ex-dividend date is Friday, December 13th. TriplePoint Venture Growth BDC’s payout ratio is 571.46%.

Insider Buying and Selling

In other TriplePoint Venture Growth BDC news, President Sajal Srivastava bought 11,298 shares of TriplePoint Venture Growth BDC stock in a transaction that occurred on Monday, August 12th. The stock was acquired at an average price of $7.02 per share, for a total transaction of $79,311.96. Following the completion of the acquisition, the president now owns 250,858 shares of the company’s stock, valued at $1,761,023.16. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.01% of the stock is currently owned by corporate insiders.

Institutional Trading of TriplePoint Venture Growth BDC

A number of large investors have recently added to or reduced their stakes in TPVG. Norden Group LLC lifted its stake in TriplePoint Venture Growth BDC by 20.0% in the first quarter. Norden Group LLC now owns 17,860 shares of the investment management company’s stock valued at $169,000 after acquiring an additional 2,972 shares during the last quarter. Paloma Partners Management Co acquired a new stake in TriplePoint Venture Growth BDC in the first quarter valued at $184,000. B. Riley Wealth Advisors Inc. raised its position in shares of TriplePoint Venture Growth BDC by 10.2% in the first quarter. B. Riley Wealth Advisors Inc. now owns 48,852 shares of the investment management company’s stock valued at $511,000 after purchasing an additional 4,512 shares during the period. U.S. Capital Wealth Advisors LLC raised its position in shares of TriplePoint Venture Growth BDC by 19.4% in the second quarter. U.S. Capital Wealth Advisors LLC now owns 19,064 shares of the investment management company’s stock valued at $153,000 after purchasing an additional 3,100 shares during the period. Finally, Commonwealth Equity Services LLC raised its position in shares of TriplePoint Venture Growth BDC by 4.5% in the second quarter. Commonwealth Equity Services LLC now owns 31,132 shares of the investment management company’s stock valued at $250,000 after purchasing an additional 1,346 shares during the period. Institutional investors and hedge funds own 12.77% of the company’s stock.

About TriplePoint Venture Growth BDC

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.