TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) Given Consensus Rating of “Hold” by Analysts

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) has earned a consensus recommendation of “Hold” from the six ratings firms that are covering the firm, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold rating. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $7.70.

TPVG has been the subject of several recent research reports. Keefe, Bruyette & Woods raised TriplePoint Venture Growth BDC from an “underperform” rating to a “market perform” rating and lowered their price objective for the company from $8.00 to $7.50 in a research report on Thursday, November 7th. StockNews.com raised shares of TriplePoint Venture Growth BDC from a “sell” rating to a “hold” rating in a research report on Friday, November 15th. Compass Point boosted their price objective 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. 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 note on Thursday, November 7th. Finally, Wells Fargo & Company boosted their price target on TriplePoint Venture Growth BDC from $6.50 to $7.50 and gave the stock an “equal weight” rating in a research report on Tuesday, November 19th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Commonwealth Equity Services LLC raised its holdings in TriplePoint Venture Growth BDC by 4.5% in the 2nd quarter. Commonwealth Equity Services LLC now owns 31,132 shares of the investment management company’s stock worth $250,000 after acquiring an additional 1,346 shares during the last quarter. Kovack Advisors Inc. raised its stake in shares of TriplePoint Venture Growth BDC by 7.8% in the third quarter. Kovack Advisors Inc. now owns 37,100 shares of the investment management company’s stock worth $262,000 after purchasing an additional 2,700 shares during the last quarter. Diversify Advisory Services LLC lifted its holdings in shares of TriplePoint Venture Growth BDC by 31.2% during the third quarter. Diversify Advisory Services LLC now owns 14,191 shares of the investment management company’s stock valued at $94,000 after purchasing an additional 3,378 shares in the last quarter. Norden Group LLC boosted its position in shares of TriplePoint Venture Growth BDC by 21.4% during the second quarter. Norden Group LLC now owns 21,678 shares of the investment management company’s stock valued at $174,000 after buying an additional 3,818 shares during the last quarter. Finally, Quarry LP bought a new stake in TriplePoint Venture Growth BDC in the 2nd quarter worth about $35,000. Institutional investors own 12.77% of the company’s stock.

TriplePoint Venture Growth BDC Price Performance

TPVG stock opened at $6.80 on Friday. TriplePoint Venture Growth BDC has a 1 year low of $6.44 and a 1 year high of $11.58. The firm has a 50-day moving average of $7.47 and a 200 day moving average of $7.77. The company has a market cap of $272.33 million, a P/E ratio of 32.38 and a beta of 1.87.

TriplePoint Venture Growth BDC (NYSE:TPVG) last announced its earnings results 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. The firm had revenue of $26.52 million during the quarter, compared to analyst estimates of $25.65 million. TriplePoint Venture Growth BDC had a return on equity of 16.86% and a net margin of 9.01%. During the same quarter in the prior year, the company earned $0.54 EPS. On average, equities research analysts expect that TriplePoint Venture Growth BDC will post 1.4 earnings per share for the current fiscal year.

TriplePoint Venture Growth BDC Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be paid a dividend of $0.30 per share. The ex-dividend date is Friday, December 13th. This represents a $1.20 dividend on an annualized basis and a yield of 17.65%. TriplePoint Venture Growth BDC’s dividend payout ratio is currently 571.43%.

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.