Shares of TriplePoint Venture Growth BDC Corp. (NYSE:TPVG - Get Free Report) have been given an average recommendation of "Hold" by the six brokerages that are covering the firm, MarketBeat reports. Six investment analysts have rated the stock with a hold recommendation. The average 12 month price target among brokers that have issued a report on the stock in the last year is $7.85.
TPVG has been the subject of several analyst reports. LADENBURG THALM/SH SH cut TriplePoint Venture Growth BDC from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $8.50 to $8.00 in a report on Friday, August 9th. Keefe, Bruyette & Woods upgraded TriplePoint Venture Growth BDC from an "underperform" rating to a "market perform" rating and lowered their price objective for the stock from $8.00 to $7.50 in a research report on Thursday, November 7th. Wells Fargo & Company lifted their target price on shares of TriplePoint Venture Growth BDC from $6.50 to $7.50 and gave the company an "equal weight" rating in a report on Tuesday, November 19th. Piper Sandler lowered their price target on shares of TriplePoint Venture Growth BDC from $8.00 to $7.50 and set a "neutral" rating on the stock in a report on Thursday, November 7th. Finally, StockNews.com upgraded shares of TriplePoint Venture Growth BDC from a "sell" rating to a "hold" rating in a research report on Friday, November 15th.
Check Out Our Latest Stock Analysis on TPVG
Institutional Investors Weigh In On TriplePoint Venture Growth BDC
A number of large investors have recently modified their holdings of the business. Quarry LP purchased a new stake in shares of TriplePoint Venture Growth BDC in the second quarter valued at approximately $35,000. McIlrath & Eck LLC purchased a new stake in shares of TriplePoint Venture Growth BDC in the third quarter valued at about $51,000. EverSource Wealth Advisors LLC acquired a new stake in TriplePoint Venture Growth BDC during the second quarter worth about $62,000. Diversify Wealth Management LLC purchased a new position in TriplePoint Venture Growth BDC during the third quarter worth about $82,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in TriplePoint Venture Growth BDC in the 3rd quarter valued at about $83,000. Hedge funds and other institutional investors own 12.77% of the company's stock.
TriplePoint Venture Growth BDC Price Performance
TPVG traded up $0.09 on Monday, reaching $8.25. 360,428 shares of the stock were exchanged, compared to its average volume of 357,075. The company's 50-day moving average price is $7.09 and its 200 day moving average price is $7.94. The firm has a market capitalization of $330.40 million, a PE ratio of 39.29 and a beta of 1.80. TriplePoint Venture Growth BDC has a fifty-two week low of $6.44 and a fifty-two week high of $11.58.
TriplePoint Venture Growth BDC (NYSE:TPVG - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The investment management company reported $0.35 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.34 by $0.01. The company had revenue of $26.52 million during the quarter, compared to analyst estimates of $25.65 million. TriplePoint Venture Growth BDC had a net margin of 9.01% and a return on equity of 16.86%. During the same period last year, the firm posted $0.54 EPS. As a group, equities analysts forecast that TriplePoint Venture Growth BDC will post 1.4 earnings per share for the current fiscal year.
TriplePoint Venture Growth BDC Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 14.55%. The ex-dividend date of this dividend is Friday, December 13th. TriplePoint Venture Growth BDC's dividend payout ratio is presently 571.43%.
About TriplePoint Venture Growth BDC
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Get Free ReportTriplePoint 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.
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