TriplePoint Venture Growth BDC (NYSE:TPVG) Downgraded by Wells Fargo & Company to Underweight

Wells Fargo & Company cut shares of TriplePoint Venture Growth BDC (NYSE:TPVG - Free Report) from an equal weight rating to an underweight rating in a report issued on Monday, MarketBeat Ratings reports. Wells Fargo & Company currently has $6.50 price target on the investment management company's stock, down from their prior price target of $7.50.

Several other research analysts also recently issued reports on the company. Compass Point upped their price objective on TriplePoint Venture Growth BDC from $7.50 to $8.00 and gave the company a "neutral" rating in a research note on Thursday, December 5th. Piper Sandler boosted their target price 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. One research analyst has rated the stock with a sell rating and five have given a hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $7.45.

TriplePoint Venture Growth BDC Trading Up 0.9 %

NYSE:TPVG traded up $0.06 on Monday, hitting $7.19. The company had a trading volume of 207,356 shares, compared to its average volume of 376,120. TriplePoint Venture Growth BDC has a 52 week low of $6.44 and a 52 week high of $9.73. The stock has a market capitalization of $288.75 million, a price-to-earnings ratio of 34.26 and a beta of 1.90. The firm has a 50 day moving average of $7.73 and a two-hundred day moving average of $7.49.

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TriplePoint Venture Growth BDC (NYSE:TPVG - Get Free Report) last announced its quarterly earnings results 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 analyst estimates of $26.68 million. TriplePoint Venture Growth BDC had a return on equity of 16.86% and a net margin of 9.01%. As a group, equities analysts forecast that TriplePoint Venture Growth BDC will post 1.4 EPS for the current year.

TriplePoint Venture Growth BDC Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 16.68%. The ex-dividend date of this dividend is Monday, March 17th. TriplePoint Venture Growth BDC's dividend payout ratio is currently 146.34%.

Institutional Trading of TriplePoint Venture Growth BDC

A number of large investors have recently bought and sold shares of the business. Summit Securities Group LLC acquired a new position in TriplePoint Venture Growth BDC in the fourth quarter valued at approximately $41,000. McIlrath & Eck LLC bought a new position in shares of TriplePoint Venture Growth BDC during the 3rd quarter worth about $51,000. EverSource Wealth Advisors LLC grew its stake in shares of TriplePoint Venture Growth BDC by 25.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 10,000 shares of the investment management company's stock valued at $74,000 after buying an additional 2,000 shares during the period. Avenir Corp bought a new stake in TriplePoint Venture Growth BDC in the 4th quarter valued at about $74,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in TriplePoint Venture Growth BDC during the 3rd quarter worth approximately $83,000. 12.77% of the stock is currently owned by institutional investors and hedge funds.

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.