TriplePoint Venture Growth BDC Corp. (NYSE:TPVG - Get Free Report) shares crossed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $7.75 and traded as high as $7.78. TriplePoint Venture Growth BDC shares last traded at $7.61, with a volume of 290,463 shares.
Analyst Ratings Changes
A number of research analysts recently weighed in on the stock. StockNews.com raised shares of TriplePoint Venture Growth BDC from a "sell" rating to a "hold" rating in a research report on Friday, November 15th. Wells Fargo & Company upped 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 research note on Tuesday, November 19th. Compass Point raised 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 research report on Thursday, December 5th. Piper Sandler lowered their target price on TriplePoint Venture Growth BDC from $8.00 to $7.50 and set a "neutral" rating on the stock in a research note on Thursday, November 7th. Finally, Keefe, Bruyette & Woods upgraded TriplePoint Venture Growth BDC from an "underperform" rating to a "market perform" rating and reduced their price target for the company from $8.00 to $7.50 in a research note on Thursday, November 7th. Seven investment analysts have rated the stock with a hold rating, According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $7.70.
View Our Latest Stock Analysis on TriplePoint Venture Growth BDC
TriplePoint Venture Growth BDC Trading Up 2.0 %
The firm has a market capitalization of $311.79 million, a price-to-earnings ratio of 37.07 and a beta of 1.88. The firm's 50-day moving average is $7.74 and its 200 day moving average is $7.57.
TriplePoint Venture Growth BDC (NYSE:TPVG - Get Free Report) last released its earnings results on Wednesday, November 6th. The investment management company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.01. The business had revenue of $26.52 million for 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 quarter in the previous year, the business earned $0.54 earnings per share. Analysts predict that TriplePoint Venture Growth BDC Corp. will post 1.4 EPS for the current year.
TriplePoint Venture Growth BDC Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 15.41%. The ex-dividend date was Friday, December 13th. TriplePoint Venture Growth BDC's dividend payout ratio (DPR) is currently 571.46%.
Hedge Funds Weigh In On TriplePoint Venture Growth BDC
A number of institutional investors have recently modified their holdings of TPVG. Millennium Management LLC grew its holdings in shares of TriplePoint Venture Growth BDC by 169.5% in the second quarter. Millennium Management LLC now owns 432,206 shares of the investment management company's stock valued at $3,471,000 after acquiring an additional 271,824 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of TriplePoint Venture Growth BDC during the 2nd quarter valued at $1,486,000. Jane Street Group LLC boosted its holdings in shares of TriplePoint Venture Growth BDC by 712.4% in the 3rd quarter. Jane Street Group LLC now owns 104,997 shares of the investment management company's stock worth $741,000 after buying an additional 92,072 shares during the last quarter. International Assets Investment Management LLC increased its holdings in TriplePoint Venture Growth BDC by 435.6% during the third quarter. International Assets Investment Management LLC now owns 107,630 shares of the investment management company's stock worth $760,000 after buying an additional 87,535 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new position in TriplePoint Venture Growth BDC in the third quarter valued at about $307,000. 12.77% of the stock is owned by institutional investors and hedge funds.
About TriplePoint Venture Growth BDC
(
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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.
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