TriplePoint Venture Growth BDC (NYSE:TPVG) Price Target Cut to $7.25 by Analysts at Compass Point

TriplePoint Venture Growth BDC (NYSE:TPVG - Free Report) had its price objective reduced by Compass Point from $8.00 to $7.25 in a research report sent to investors on Tuesday,Benzinga reports. Compass Point currently has a neutral rating on the investment management company's stock.

A number of other brokerages have also recently issued reports on TPVG. Wells Fargo & Company cut TriplePoint Venture Growth BDC from an "equal weight" rating to an "underweight" rating and lowered their target price for the stock from $7.50 to $6.50 in a report on Monday, March 17th. Piper Sandler raised their target price on TriplePoint Venture Growth BDC from $7.50 to $8.00 and gave the company a "neutral" rating in a report on Thursday, March 6th. One analyst has rated the stock with a sell rating and five have given a hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $7.45.

TriplePoint Venture Growth BDC Trading Up 0.9 %

Shares of NYSE:TPVG traded up $0.06 during trading on Tuesday, hitting $7.19. 207,356 shares of the company were exchanged, compared to its average volume of 376,943. The stock has a market cap of $288.75 million, a price-to-earnings ratio of 34.26 and a beta of 1.90. TriplePoint Venture Growth BDC has a fifty-two week low of $6.44 and a fifty-two week high of $9.73. The firm has a fifty day moving average price of $7.72 and a two-hundred day moving average price of $7.49.

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TriplePoint Venture Growth BDC (NYSE:TPVG - Get Free Report) last released its quarterly earnings results on Wednesday, March 5th. The investment management company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.03). The firm had revenue of $25.75 million during the quarter, compared to the consensus estimate of $26.68 million. TriplePoint Venture Growth BDC had a net margin of 9.01% and a return on equity of 16.86%. As a group, research analysts predict that TriplePoint Venture Growth BDC will post 1.4 EPS for the current year.

TriplePoint Venture Growth BDC Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 16.68%. The ex-dividend date is Monday, March 17th. TriplePoint Venture Growth BDC's payout ratio is 146.34%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Summit Securities Group LLC purchased a new stake in shares of TriplePoint Venture Growth BDC in the 4th quarter worth approximately $41,000. McIlrath & Eck LLC purchased a new stake in TriplePoint Venture Growth BDC during the 3rd quarter valued at $51,000. EverSource Wealth Advisors LLC boosted its stake in TriplePoint Venture Growth BDC by 25.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 10,000 shares of the investment management company's stock valued at $74,000 after purchasing an additional 2,000 shares during the last quarter. Avenir Corp purchased a new stake in TriplePoint Venture Growth BDC during the 4th quarter valued at $74,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of TriplePoint Venture Growth BDC in the 3rd quarter worth $83,000. Institutional investors own 12.77% of the company's stock.

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.