Piper Sandler Issues Pessimistic Forecast for TriplePoint Venture Growth BDC (NYSE:TPVG) Stock Price

TriplePoint Venture Growth BDC (NYSE:TPVG - Free Report) had its target price trimmed by Piper Sandler from $8.00 to $7.00 in a research note issued to investors on Tuesday morning,Benzinga reports. The brokerage currently has a neutral rating on the investment management company's stock.

Several other research analysts have also issued reports on TPVG. Wells Fargo & Company lowered shares of TriplePoint Venture Growth BDC from an "equal weight" rating to an "underweight" rating and dropped their price target for the stock from $7.50 to $6.50 in a research report on Monday, March 17th. Compass Point decreased their price target on shares of TriplePoint Venture Growth BDC from $8.00 to $7.25 and set a "neutral" rating on the stock in a research note on Tuesday, March 18th. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the company's stock. According to MarketBeat, TriplePoint Venture Growth BDC has a consensus rating of "Hold" and a consensus price target of $7.15.

TriplePoint Venture Growth BDC Price Performance

Shares of NYSE TPVG traded down $0.11 during trading hours on Tuesday, hitting $5.88. 539,154 shares of the company's stock were exchanged, compared to its average volume of 384,439. TriplePoint Venture Growth BDC has a 1-year low of $5.53 and a 1-year high of $9.73. The stock has a market capitalization of $235.80 million, a price-to-earnings ratio of 27.98 and a beta of 1.65. The company's 50-day moving average price is $7.29 and its 200-day moving average price is $7.40.

Remove Ads

TriplePoint Venture Growth BDC (NYSE:TPVG - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $25.75 million for the quarter, compared to the consensus estimate of $26.68 million. TriplePoint Venture Growth BDC had a return on equity of 16.86% and a net margin of 9.01%. On average, research analysts expect that TriplePoint Venture Growth BDC will post 1.4 earnings per share for the current year.

TriplePoint Venture Growth BDC Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 20.43%. The ex-dividend date of this dividend was Monday, March 17th. TriplePoint Venture Growth BDC's dividend payout ratio is currently 146.34%.

Institutional Trading of TriplePoint Venture Growth BDC

Several hedge funds have recently added to or reduced their stakes in TPVG. Two Sigma Investments LP raised its holdings in TriplePoint Venture Growth BDC by 21.9% during the 4th quarter. Two Sigma Investments LP now owns 678,034 shares of the investment management company's stock worth $5,004,000 after buying an additional 122,039 shares during the period. Jane Street Group LLC boosted its position in TriplePoint Venture Growth BDC by 712.4% during the third quarter. Jane Street Group LLC now owns 104,997 shares of the investment management company's stock valued at $741,000 after purchasing an additional 92,072 shares during the last quarter. Millennium Management LLC grew its stake in shares of TriplePoint Venture Growth BDC by 180.1% in the fourth quarter. Millennium Management LLC now owns 120,602 shares of the investment management company's stock valued at $890,000 after buying an additional 77,551 shares in the last quarter. Alpine Global Management LLC acquired a new position in shares of TriplePoint Venture Growth BDC during the 4th quarter worth about $477,000. Finally, Trexquant Investment LP increased its position in TriplePoint Venture Growth BDC by 35.5% during the fourth quarter. Trexquant Investment LP now owns 227,039 shares of the investment management company's stock worth $1,676,000 after buying an additional 59,462 shares during the last quarter. Institutional investors and hedge funds own 12.77% of the company's stock.

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.