TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) Receives Consensus Recommendation of "Reduce" from Brokerages

Shares of TriplePoint Venture Growth BDC Corp. (NYSE:TPVG - Get Free Report) have received an average recommendation of "Reduce" from the five ratings firms that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation and four have assigned a hold recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $7.45.

A number of research analysts recently weighed in on TPVG shares. Wells Fargo & Company downgraded 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 note on Monday, March 17th. Piper Sandler upped their price objective on shares of TriplePoint Venture Growth BDC from $7.50 to $8.00 and gave the stock a "neutral" rating in a report on Thursday, March 6th. Finally, Compass Point reduced their price objective on shares of TriplePoint Venture Growth BDC from $8.00 to $7.25 and set a "neutral" rating for the company in a report on Tuesday, March 18th.

TriplePoint Venture Growth BDC Price Performance

Shares of NYSE:TPVG traded down $0.64 during mid-day trading on Monday, hitting $6.12. The company had a trading volume of 838,432 shares, compared to its average volume of 377,488. TriplePoint Venture Growth BDC has a one year low of $6.07 and a one year high of $9.73. The firm has a fifty day moving average price of $7.58 and a 200 day moving average price of $7.45. The company has a market capitalization of $245.44 million, a PE ratio of 29.12 and a beta of 1.90.

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TriplePoint Venture Growth BDC (NYSE:TPVG - Get Free Report) last posted its quarterly earnings results on Wednesday, March 5th. The investment management company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.03). The company 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%. Research analysts expect 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 disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 19.62%. The ex-dividend date was Monday, March 17th. TriplePoint Venture Growth BDC's payout ratio is 146.34%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Two Sigma Investments LP increased its position in TriplePoint Venture Growth BDC by 21.9% in the fourth 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 last quarter. Jane Street Group LLC grew its stake in shares of TriplePoint Venture Growth BDC by 712.4% during the 3rd quarter. Jane Street Group LLC now owns 104,997 shares of the investment management company's stock worth $741,000 after acquiring an additional 92,072 shares during the period. Millennium Management LLC increased its holdings in TriplePoint Venture Growth BDC by 180.1% in the 4th quarter. Millennium Management LLC now owns 120,602 shares of the investment management company's stock worth $890,000 after acquiring an additional 77,551 shares during the last quarter. Alpine Global Management LLC bought a new stake in TriplePoint Venture Growth BDC in the 4th quarter valued at about $477,000. Finally, Trexquant Investment LP lifted its holdings 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 valued at $1,676,000 after purchasing an additional 59,462 shares during the last quarter. 12.77% of the stock is currently owned by hedge funds and other institutional investors.

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.