TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) Given Average Rating of "Hold" by Brokerages

Shares of TriplePoint Venture Growth BDC Corp. (NYSE:TPVG - Get Free Report) have been assigned an average rating of "Hold" from the six research firms that are covering the stock, Marketbeat Ratings reports. Six investment analysts have rated the stock with a hold recommendation. The average 12-month price objective among brokers that have covered the stock in the last year is $7.70.

Several analysts have recently issued reports on the company. Keefe, Bruyette & Woods raised TriplePoint Venture Growth BDC from an "underperform" rating to a "market perform" rating and decreased their price objective for the stock from $8.00 to $7.50 in a report on Thursday, November 7th. Piper Sandler lowered their price objective on shares of TriplePoint Venture Growth BDC from $8.00 to $7.50 and set a "neutral" rating for the company in a research report on Thursday, November 7th. StockNews.com raised shares of TriplePoint Venture Growth BDC from a "sell" rating to a "hold" rating in a research note on Friday, November 15th. Wells Fargo & Company increased their price target 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. Finally, Compass Point boosted their price objective on TriplePoint Venture Growth BDC from $7.50 to $8.00 and gave the stock a "neutral" rating in a research note on Thursday, December 5th.

TriplePoint Venture Growth BDC Trading Up 6.2 %

TPVG traded up $0.42 during trading on Friday, hitting $7.22. 2,639,065 shares of the company traded hands, compared to its average volume of 376,235. The company has a market cap of $289.15 million, a PE ratio of 34.38 and a beta of 1.87. TriplePoint Venture Growth BDC has a 1 year low of $6.44 and a 1 year high of $11.58. The stock's 50-day simple moving average is $7.47 and its two-hundred day simple moving average is $7.77.

TriplePoint Venture Growth BDC (NYSE:TPVG - Get Free Report) last issued its earnings results on Wednesday, November 6th. The investment management company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.01. The firm had revenue of $26.52 million for the quarter, compared to analysts' expectations of $25.65 million. TriplePoint Venture Growth BDC had a return on equity of 16.86% and a net margin of 9.01%. During the same period in the previous year, the firm posted $0.54 earnings per share. Equities analysts expect that TriplePoint Venture Growth BDC will post 1.4 EPS for the current year.

TriplePoint Venture Growth BDC Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.20 annualized dividend and a dividend yield of 16.62%. TriplePoint Venture Growth BDC's dividend payout ratio (DPR) is presently 571.43%.

Hedge Funds Weigh In On TriplePoint Venture Growth BDC

Several hedge funds have recently bought and sold shares of TPVG. Commonwealth Equity Services LLC increased its position in shares of TriplePoint Venture Growth BDC by 4.5% during the second quarter. Commonwealth Equity Services LLC now owns 31,132 shares of the investment management company's stock worth $250,000 after acquiring an additional 1,346 shares during the period. Kovack Advisors Inc. increased its holdings in TriplePoint Venture Growth BDC by 7.8% during the 3rd quarter. Kovack Advisors Inc. now owns 37,100 shares of the investment management company's stock worth $262,000 after purchasing an additional 2,700 shares during the period. Diversify Advisory Services LLC raised its position 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 in the last quarter. Norden Group LLC lifted its holdings in shares of TriplePoint Venture Growth BDC by 21.4% in the 2nd quarter. Norden Group LLC now owns 21,678 shares of the investment management company's stock worth $174,000 after buying an additional 3,818 shares during the period. Finally, Quarry LP bought a new position in shares of TriplePoint Venture Growth BDC during the 2nd quarter worth $35,000. 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.