TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) Given Consensus Rating of "Reduce" by Analysts

Shares of TriplePoint Venture Growth BDC Corp. (NYSE:TPVG - Get Free Report) have received an average recommendation of "Reduce" from the six ratings firms that are covering the stock, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation and four have given a hold recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $7.85.

A number of analysts recently weighed in on TPVG shares. Piper Sandler cut their price target on shares of TriplePoint Venture Growth BDC from $9.50 to $8.00 and set a "neutral" rating on the stock in a research report on Thursday, August 8th. LADENBURG THALM/SH SH downgraded shares of TriplePoint Venture Growth BDC from a "buy" rating to a "neutral" rating and cut their price target for the company from $8.50 to $8.00 in a research report on Friday, August 9th. Keefe, Bruyette & Woods cut their price target on shares of TriplePoint Venture Growth BDC from $9.00 to $8.00 and set an "underperform" rating on the stock in a research report on Friday, August 9th. Finally, Wells Fargo & Company cut their price target on shares of TriplePoint Venture Growth BDC from $8.00 to $6.50 and set an "underweight" rating on the stock in a research report on Tuesday.

Insider Transactions at TriplePoint Venture Growth BDC

In other TriplePoint Venture Growth BDC news, President Sajal Srivastava purchased 11,298 shares of the firm's stock in a transaction dated Monday, August 12th. The stock was bought at an average cost of $7.02 per share, with a total value of $79,311.96. Following the purchase, the president now directly owns 250,858 shares of the company's stock, valued at $1,761,023.16. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 1.40% of the company's stock.

Hedge Funds Weigh In On TriplePoint Venture Growth BDC

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Commonwealth Equity Services LLC grew its stake in shares of TriplePoint Venture Growth BDC by 4.5% in the second quarter. Commonwealth Equity Services LLC now owns 31,132 shares of the investment management company's stock valued at $250,000 after buying an additional 1,346 shares in the last quarter. Norden Group LLC lifted its holdings in TriplePoint Venture Growth BDC by 20.0% during the 1st quarter. Norden Group LLC now owns 17,860 shares of the investment management company's stock valued at $169,000 after purchasing an additional 2,972 shares during the last quarter. U.S. Capital Wealth Advisors LLC lifted its holdings in TriplePoint Venture Growth BDC by 19.4% during the 2nd quarter. U.S. Capital Wealth Advisors LLC now owns 19,064 shares of the investment management company's stock valued at $153,000 after purchasing an additional 3,100 shares during the last quarter. Diversify Advisory Services LLC lifted its holdings in TriplePoint Venture Growth BDC by 31.2% during the 3rd quarter. Diversify Advisory Services LLC now owns 14,191 shares of the investment management company's stock valued at $94,000 after purchasing an additional 3,378 shares during the last quarter. Finally, Quarry LP acquired a new stake in TriplePoint Venture Growth BDC during the 2nd quarter valued at $35,000. 12.77% of the stock is owned by institutional investors.

TriplePoint Venture Growth BDC Stock Performance

TriplePoint Venture Growth BDC stock traded up $0.02 during trading hours on Thursday, reaching $6.64. 298,898 shares of the company's stock traded hands, compared to its average volume of 358,666. TriplePoint Venture Growth BDC has a fifty-two week low of $6.58 and a fifty-two week high of $11.58. The firm has a market capitalization of $265.27 million, a price-to-earnings ratio of -22.10 and a beta of 1.79. The firm's 50 day moving average is $7.07 and its 200-day moving average is $8.16.

TriplePoint Venture Growth BDC (NYSE:TPVG - Get Free Report) last released its earnings results on Wednesday, August 7th. The investment management company reported $0.33 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.43 by ($0.10). The business had revenue of $27.11 million for the quarter, compared to analyst estimates of $28.77 million. TriplePoint Venture Growth BDC had a negative net margin of 8.03% and a positive return on equity of 18.24%. During the same quarter in the previous year, the company posted $0.53 earnings per share. Analysts predict that TriplePoint Venture Growth BDC will post 1.4 EPS for the current year.

TriplePoint Venture Growth BDC Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $1.20 annualized dividend and a dividend yield of 18.07%. TriplePoint Venture Growth BDC's dividend payout ratio is currently -399.99%.

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.