Brokerages Set TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) PT at $6.25

Shares of TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) have received an average recommendation of “Reduce” from the seven brokerages that are currently covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a sell recommendation and four have assigned a hold recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $6.25.

A number of research analysts have recently weighed in on TPVG shares. Wall Street Zen raised shares of TriplePoint Venture Growth BDC from a “sell” rating to a “hold” rating in a research note on Saturday. Weiss Ratings reiterated a “sell (d+)” rating on shares of TriplePoint Venture Growth BDC in a report on Monday, December 1st. Piper Sandler cut their price target on TriplePoint Venture Growth BDC from $7.00 to $6.00 and set a “neutral” rating for the company in a report on Thursday, October 9th. Zacks Research downgraded TriplePoint Venture Growth BDC from a “hold” rating to a “strong sell” rating in a research report on Friday, November 7th. Finally, UBS Group decreased their price objective on TriplePoint Venture Growth BDC from $6.50 to $5.50 and set a “neutral” rating on the stock in a research note on Tuesday, October 14th.

TriplePoint Venture Growth BDC Stock Down 1.0%

TriplePoint Venture Growth BDC stock opened at $6.69 on Friday. TriplePoint Venture Growth BDC has a 52 week low of $5.24 and a 52 week high of $8.33. The firm’s 50-day simple moving average is $5.86 and its 200 day simple moving average is $6.44. The firm has a market capitalization of $270.07 million, a PE ratio of 7.86 and a beta of 1.35.

TriplePoint Venture Growth BDC (NYSE:TPVG) last posted its earnings results on Wednesday, November 5th. The investment management company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.03). The business had revenue of $22.66 million for the quarter, compared to analysts’ expectations of $24.22 million. TriplePoint Venture Growth BDC had a net margin of 36.02% and a return on equity of 12.88%. On average, research analysts expect that TriplePoint Venture Growth BDC will post 1.4 EPS for the current fiscal year.

TriplePoint Venture Growth BDC Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Tuesday, December 16th will be paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 13.8%. The ex-dividend date of this dividend is Tuesday, December 16th. TriplePoint Venture Growth BDC’s dividend payout ratio (DPR) is currently 108.24%.

Insider Transactions at TriplePoint Venture Growth BDC

In other news, CEO James Labe bought 47,713 shares of the stock in a transaction on Thursday, December 4th. The stock was purchased at an average cost of $6.62 per share, with a total value of $315,860.06. Following the purchase, the chief executive officer owned 1,270,479 shares of the company’s stock, valued at approximately $8,410,570.98. The trade was a 3.90% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, insider Sajal Srivastava purchased 47,713 shares of the business’s stock in a transaction on Thursday, December 4th. The stock was acquired at an average price of $6.62 per share, with a total value of $315,860.06. Following the completion of the acquisition, the insider directly owned 1,270,479 shares in the company, valued at $8,410,570.98. The trade was a 3.90% increase in their position. The SEC filing for this purchase provides additional information. Over the last quarter, insiders have bought 998,752 shares of company stock valued at $6,207,152. Insiders own 1.46% of the company’s stock.

Hedge Funds Weigh In On TriplePoint Venture Growth BDC

Hedge funds have recently made changes to their positions in the stock. Townsquare Capital LLC grew its stake in shares of TriplePoint Venture Growth BDC by 20.6% during the 1st quarter. Townsquare Capital LLC now owns 102,318 shares of the investment management company’s stock valued at $714,000 after buying an additional 17,445 shares during the period. HighTower Advisors LLC acquired a new position in TriplePoint Venture Growth BDC in the first quarter valued at $72,000. Ethos Financial Group LLC purchased a new stake in TriplePoint Venture Growth BDC during the first quarter valued at about $176,000. Samalin Investment Counsel LLC grew its position in TriplePoint Venture Growth BDC by 16.1% during the first quarter. Samalin Investment Counsel LLC now owns 81,906 shares of the investment management company’s stock valued at $572,000 after acquiring an additional 11,364 shares during the period. Finally, Quarry LP increased its stake in TriplePoint Venture Growth BDC by 53.6% during the first quarter. Quarry LP now owns 4,669 shares of the investment management company’s stock worth $33,000 after acquiring an additional 1,629 shares during the last quarter. Institutional investors and hedge funds own 12.77% of the company’s stock.

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.