TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) Given Consensus Recommendation of “Reduce” by Brokerages

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) has been assigned a consensus rating of “Reduce” from the six ratings firms that are presently covering the firm, Marketbeat reports. Three analysts have rated the stock with a sell rating and three have issued a hold rating on the company. The average 1 year target price among brokers that have covered the stock in the last year is $5.6250.

TPVG has been the topic of a number of research reports. Wells Fargo & Company dropped their price target on shares of TriplePoint Venture Growth BDC from $5.50 to $5.00 and set an “underweight” rating on the stock in a research note on Thursday, March 5th. Piper Sandler dropped their price target on shares of TriplePoint Venture Growth BDC from $6.00 to $5.50 and set a “neutral” rating on the stock in a research note on Tuesday, April 7th. Keefe, Bruyette & Woods dropped their price target on shares of TriplePoint Venture Growth BDC from $7.00 to $6.50 and set a “market perform” rating on the stock in a research note on Thursday, March 5th. Weiss Ratings downgraded shares of TriplePoint Venture Growth BDC from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, March 12th. Finally, Zacks Research downgraded shares of TriplePoint Venture Growth BDC from a “hold” rating to a “strong sell” rating in a research note on Thursday, April 16th.

TriplePoint Venture Growth BDC Stock Down 3.6%

Shares of NYSE:TPVG opened at $5.77 on Tuesday. The company’s fifty day moving average is $5.20 and its two-hundred day moving average is $5.80. TriplePoint Venture Growth BDC has a 12-month low of $4.48 and a 12-month high of $7.53. The company has a market cap of $234.06 million, a P/E ratio of 5.44 and a beta of 1.28.

TriplePoint Venture Growth BDC (NYSE:TPVG) last posted its quarterly earnings results on Wednesday, May 6th. The investment management company reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.02). TriplePoint Venture Growth BDC had a return on equity of 11.53% and a net margin of 46.77%.The company had revenue of $19.81 million during the quarter, compared to analyst estimates of $23.14 million. Equities research analysts anticipate that TriplePoint Venture Growth BDC will post 0.94 earnings per share for the current year.

TriplePoint Venture Growth BDC Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th will be paid a $0.23 dividend. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 16.0%. TriplePoint Venture Growth BDC’s dividend payout ratio is 74.80%.

Hedge Funds Weigh In On TriplePoint Venture Growth BDC

A number of hedge funds have recently modified their holdings of the stock. Two Sigma Investments LP increased its position in TriplePoint Venture Growth BDC by 58.6% during the third quarter. Two Sigma Investments LP now owns 612,727 shares of the investment management company’s stock worth $3,535,000 after buying an additional 226,479 shares during the last quarter. Marshall Wace LLP increased its position in TriplePoint Venture Growth BDC by 44.9% during the second quarter. Marshall Wace LLP now owns 529,201 shares of the investment management company’s stock worth $3,710,000 after buying an additional 163,916 shares during the last quarter. Norden Group LLC increased its position in TriplePoint Venture Growth BDC by 150.1% during the fourth quarter. Norden Group LLC now owns 174,090 shares of the investment management company’s stock worth $1,139,000 after buying an additional 104,492 shares during the last quarter. Trexquant Investment LP increased its position in TriplePoint Venture Growth BDC by 48.1% during the fourth quarter. Trexquant Investment LP now owns 190,996 shares of the investment management company’s stock worth $1,249,000 after buying an additional 62,023 shares during the last quarter. Finally, XTX Topco Ltd acquired a new position in TriplePoint Venture Growth BDC during the fourth quarter worth $354,000. 12.77% of the stock is owned by institutional investors and hedge funds.

TriplePoint Venture Growth BDC Company Profile

TriplePoint Venture Growth BDC Inc is a closed-end management investment company externally managed by TriplePoint Capital LLC. The firm specializes in providing customized debt and equity financing to growth-stage, venture capital– and private equity–backed companies. Its financing solutions include senior secured loans, unitranche facilities, subordinated debt and selective equity co-investments tailored to support expansion, working capital needs and strategic initiatives.

Launched in September 2018 and listed on the New York Stock Exchange under the symbol TPVG, TriplePoint Venture Growth BDC leverages the deep industry expertise and established underwriting capabilities of TriplePoint Capital, a venture lender since 2003.