TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) Stock Has Consensus Target Price of $5.25

by · The Markets Daily

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG – Get Free Report) has been given a consensus rating of “Reduce” by the six ratings firms that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation and five have assigned a hold recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $5.25.

Several research analysts have recently issued reports on the company. Keefe, Bruyette & Woods reduced their price objective on TriplePoint Venture Growth BDC from $6.00 to $5.50 and set a “market perform” rating for the company in a research note on Thursday, August 6th. Weiss Ratings raised TriplePoint Venture Growth BDC from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, September 16th. Finally, Piper Sandler dropped their target price on TriplePoint Venture Growth BDC from $5.50 to $5.00 and set a “neutral” rating on the stock in a research report on Monday, July 13th.

Check Out Our Latest Research Report on TriplePoint Venture Growth BDC

TriplePoint Venture Growth BDC Price Performance

NYSE TPVG opened at $4.91 on Friday. The stock’s fifty day moving average price is $5.08 and its 200 day moving average price is $5.13. TriplePoint Venture Growth BDC has a 1 year low of $4.39 and a 1 year high of $6.95. The company has a market cap of $199.68 million, a price-to-earnings ratio of 4.95 and a beta of 1.37.

TriplePoint Venture Growth BDC (NYSE:TPVG – Get Free Report) last issued its earnings results on Wednesday, August 5th. The investment management company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.02. The company had revenue of $22.15 million during the quarter, compared to analyst estimates of $22.88 million. TriplePoint Venture Growth BDC had a return on equity of 10.68% and a net margin of 44.58%. Research analysts expect that TriplePoint Venture Growth BDC will post 0.94 earnings per share for the current year.

TriplePoint Venture Growth BDC Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 30th. Shareholders of record on Wednesday, December 16th will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 4.9%. The ex-dividend date is Wednesday, December 16th. This is a negative change from TriplePoint Venture Growth BDC’s previous quarterly dividend of $0.29. TriplePoint Venture Growth BDC’s dividend payout ratio (DPR) is presently 92.93%.

Insider Activity at TriplePoint Venture Growth BDC

In other news, insider Sajal Srivastava sold 313,865 shares of the stock in a transaction on Friday, September 18th. The shares were sold at an average price of $4.71, for a total value of $1,478,304.15. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO James Labe bought 313,865 shares of TriplePoint Venture Growth BDC stock in a transaction that occurred on Friday, September 18th. The shares were acquired at an average cost of $4.71 per share, with a total value of $1,478,304.15. Following the acquisition, the chief executive officer owned 2,312,354 shares of the company’s stock, valued at $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. Insiders own 1.55% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Summit Securities Group LLC grew its position in TriplePoint Venture Growth BDC by 257.1% during the 1st quarter. Summit Securities Group LLC now owns 5,000 shares of the investment management company’s stock worth $25,000 after purchasing an additional 3,600 shares during the period. Rockefeller Capital Management L.P. raised its stake in shares of TriplePoint Venture Growth BDC by 75.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 7,000 shares of the investment management company’s stock valued at $46,000 after buying an additional 3,000 shares during the last quarter. AXQ Capital LP acquired a new position in shares of TriplePoint Venture Growth BDC in the 4th quarter valued at about $72,000. Attessa Capital LLC acquired a new position in shares of TriplePoint Venture Growth BDC in the 2nd quarter valued at about $67,000. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its stake in shares of TriplePoint Venture Growth BDC by 19.9% in the second quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 14,659 shares of the investment management company’s stock worth $72,000 after buying an additional 2,435 shares during the last quarter. 12.77% of the stock is currently owned by institutional investors and hedge funds.

TriplePoint Venture Growth BDC Company Profile

(Get Free Report)

TriplePoint Venture Growth BDC Corp. (NYSE: TPVG) is a business development company that provides financing to venture capital-backed companies in the growth stage. The company primarily invests in businesses operating in technology, life sciences and other high-growth industries.

Its investment activities generally center on venture growth loans and other debt investments designed to support companies as they expand their operations, develop products and pursue strategic opportunities.

Featured Stories