TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) Stock Has Average Price Target of $5.17

Shares of TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) have been given a consensus rating of “Reduce” by the five analysts that are currently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation and three have given a hold recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $5.17.

A number of equities research analysts have issued reports on the company. Piper Sandler decreased their target price on TriplePoint Venture Growth BDC from $5.50 to $5.00 and set a “neutral” rating for the company in a research report on Monday, July 13th. Keefe, Bruyette & Woods dropped their price target on shares of TriplePoint Venture Growth BDC from $6.00 to $5.50 and set a “market perform” rating on the stock in a research report on Thursday, August 6th. Finally, Weiss Ratings cut shares of TriplePoint Venture Growth BDC from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, October 8th.

TriplePoint Venture Growth BDC Stock Down 0.5%

NYSE TPVG opened at $4.53 on Tuesday. The stock has a market capitalization of $184.33 million, a PE ratio of 4.57 and a beta of 1.37. The company has a 50 day moving average price of $4.86 and a two-hundred day moving average price of $5.21. TriplePoint Venture Growth BDC has a 12-month low of $4.15 and a 12-month high of $6.95.

TriplePoint Venture Growth BDC (NYSE:TPVG) last issued its quarterly earnings data on Wednesday, August 5th. The investment management company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.02. TriplePoint Venture Growth BDC had a return on equity of 10.68% and a net margin of 44.58%. The business had revenue of $22.15 million for the quarter, compared to analyst estimates of $22.88 million. As a group, equities analysts anticipate that TriplePoint Venture Growth BDC will post 0.89 EPS for the current year.

TriplePoint Venture Growth BDC Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 30th. Investors of record on Wednesday, December 16th will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 5.3%. The ex-dividend date is Wednesday, December 16th. This is a drop from TriplePoint Venture Growth BDC’s previous quarterly dividend of $0.29. TriplePoint Venture Growth BDC’s dividend payout ratio (DPR) is 92.93%.

Insider Buying and Selling at TriplePoint Venture Growth BDC

In other TriplePoint Venture Growth BDC news, insider Sajal Srivastava sold 313,865 shares of the business’s stock in a transaction on Friday, September 18th. The shares were sold at an average price of $4.71, for a total transaction of $1,478,304.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO James Labe bought 313,865 shares of the business’s stock in a transaction on Friday, September 18th. The shares were purchased at an average cost of $4.71 per share, with a total value of $1,478,304.15. Following the transaction, the chief executive officer owned 2,312,354 shares in the company, valued at approximately $10,891,187.34. The trade was a 15.71% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Company insiders own 1.55% of the company’s stock.

Hedge Funds Weigh In On TriplePoint Venture Growth BDC

A number of institutional investors have recently made changes to their positions in the business. Arlington Capital Management INC acquired a new position in shares of TriplePoint Venture Growth BDC during the 3rd quarter worth about $245,000. SMH Capital Advisors Inc. acquired a new stake in TriplePoint Venture Growth BDC in the 3rd quarter valued at approximately $95,000. Bank of America Corp DE acquired a new stake in TriplePoint Venture Growth BDC in the 2nd quarter valued at approximately $620,000. Legal & General Group Plc acquired a new stake in TriplePoint Venture Growth BDC in the 2nd quarter valued at approximately $1,597,000. Finally, BlackRock Inc. bought a new position in TriplePoint Venture Growth BDC in the 2nd quarter worth approximately $754,000. 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 that provides financing to venture growth-stage companies. The company primarily invests in businesses backed by venture capital or private equity sponsors, with an emphasis on companies that have developed products or services and are seeking capital to support expansion, acquisitions, working capital and other corporate purposes.

Its investment portfolio is focused largely on companies in technology, life sciences and other high-growth industries.