Compass Point Cuts TriplePoint Venture Growth BDC (NYSE:TPVG) Price Target to $7.25

TriplePoint Venture Growth BDC (NYSE:TPVG) had its price target cut by Compass Point from $8.00 to $7.25 in a research report released on Tuesday morning,Benzinga reports. They currently have a neutral rating on the investment management company’s stock.

A number of other equities research analysts also recently weighed in on the stock. Wells Fargo & Company downgraded shares of TriplePoint Venture Growth BDC from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $7.50 to $6.50 in a research report on Monday. Piper Sandler lifted their price target on shares of TriplePoint Venture Growth BDC from $7.50 to $8.00 and gave the company a “neutral” rating in a research report on Thursday, March 6th. One research analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $7.45.

TriplePoint Venture Growth BDC Stock Down 0.3 %

Shares of NYSE:TPVG opened at $7.14 on Tuesday. TriplePoint Venture Growth BDC has a 12-month low of $6.44 and a 12-month high of $9.73. The stock has a market cap of $286.38 million, a PE ratio of 33.98 and a beta of 1.90. The business has a 50 day moving average of $7.73 and a 200-day moving average of $7.49.

TriplePoint Venture Growth BDC (NYSE:TPVG) last issued its quarterly earnings data on Wednesday, March 5th. The investment management company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). TriplePoint Venture Growth BDC had a return on equity of 16.86% and a net margin of 9.01%. The firm had revenue of $25.75 million for the quarter, compared to the consensus estimate of $26.68 million. Equities research analysts expect 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 Monday, March 31st. Shareholders of record on Monday, March 17th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 16.82%. The ex-dividend date is Monday, March 17th. TriplePoint Venture Growth BDC’s payout ratio is presently 146.34%.

Institutional Investors Weigh In On TriplePoint Venture Growth BDC

Several institutional investors and hedge funds have recently added to or reduced their stakes in TPVG. Summit Securities Group LLC bought a new stake in TriplePoint Venture Growth BDC during the fourth quarter worth $41,000. McIlrath & Eck LLC bought a new stake in TriplePoint Venture Growth BDC during the third quarter worth $51,000. EverSource Wealth Advisors LLC lifted its stake in TriplePoint Venture Growth BDC by 25.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 10,000 shares of the investment management company’s stock worth $74,000 after purchasing an additional 2,000 shares during the last quarter. Avenir Corp bought a new stake in TriplePoint Venture Growth BDC during the fourth quarter worth $74,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in TriplePoint Venture Growth BDC during the third quarter worth $83,000. 12.77% of the stock is currently owned by 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.