Shares of TriplePoint Venture Growth BDC Corp. (NYSE: TPVG – Get a rating) earned an average recommendation of “Hold” from the six brokerages that currently cover the business, MarketBeat.com reports. One equity research analyst rated the stock with a sell rating, one gave the company a hold rating and three gave the company a buy rating. The 12-month average target price among analysts who have covered the stock over the past year is $16.81.
TPVG has been the subject of a number of research analyst reports. TheStreet downgraded TriplePoint Venture Growth BDC from a “b-” rating to a “c” rating in a Tuesday, August 23 report. StockNews.com began covering TriplePoint Venture Growth BDC shares in a research note on Wednesday. They set a “sell” rating for the company. Finally, Piper Sandler cut her price target on TriplePoint Venture Growth BDC shares from $16.00 to $14.50 and set an “overweight” rating for the stock in a Monday, October 3 research report .
TriplePoint Venture Capital Growth BDC Share Performance
TPVG opened at $11.55 on Friday. The company has a market capitalization of $407.02 million, a P/E ratio of 8.08 and a beta of 1.68. The company has a 50-day moving average of $12.57 and a 200-day moving average of $13.97. TriplePoint Venture Growth BDC has a 1-year low of $10.41 and a 1-year high of $19.25.
TriplePoint Venture Growth BDC (NYSE: TPVG – Get a rating) last released its quarterly results on Wednesday, August 3. The investment management firm reported EPS of $0.41 for the quarter, beating analyst consensus estimates of $0.37 by $0.04. TriplePoint Venture Growth BDC achieved a return on equity of 11.53% and a net margin of 43.80%. The company posted revenue of $27.43 million in the quarter, versus a consensus estimate of $24.48 million. During the same period last year, the company made earnings per share of $0.30. As a group, sell-side analysts expect TriplePoint Venture Growth BDC to post earnings per share of 1.66 for the current fiscal year.
TriplePoint Venture Growth BDC announces dividend
The company also recently announced a quarterly dividend, which was paid on Friday, September 30. Shareholders of record on Thursday, September 15 received a dividend of $0.36. This represents a dividend of $1.44 on an annualized basis and a yield of 12.47%. The ex-dividend date was Wednesday, September 14. TriplePoint Venture Growth BDC’s payout ratio is 100.70%.
Separately, CFO Christopher M. Mathieu acquired 10,000 shares of the company in a transaction that took place on Friday, September 9. The shares were acquired at an average price of $13.34 per share, with a total value of $133,400.00. Following the acquisition, the CFO now directly owns 35,500 shares of the company, valued at $473,570. The acquisition was disclosed in a filing with the SEC, accessible via the SEC website. Company insiders own 1.38% of the company’s shares.
Hedge funds weigh on TriplePoint Venture Growth BDC
A number of institutional investors and hedge funds have recently increased or reduced their holdings in TPVG. Millennium Management LLC increased its stake in shares of TriplePoint Venture Growth BDC by 3,755.7% during the second quarter. Millennium Management LLC now owns 480,955 shares of the investment management company valued at $6,127,000 after purchasing an additional 468,481 shares last quarter. Van ECK Associates Corp increased its holdings of TriplePoint Venture Growth BDC shares by 52.7% in the first quarter. Van ECK Associates Corp now owns 722,692 shares of the investment management firm valued at $12,618,000 after acquiring an additional 249,437 shares last quarter. Farmer Steven Patrick acquired a new stock position in TriplePoint Venture Growth BDC during the second quarter worth approximately $1,406,000. Banque Pictet & Cie SA acquired a new stake in TriplePoint Venture Growth BDC during the second quarter for a value of approximately $503,000. Finally, Pictet North America Advisors SA acquired a new stake in TriplePoint Venture Growth BDC in the second quarter worth approximately $503,000. 22.15% of the shares are held by institutional investors.
Company Profile TriplePoint Venture Growth BDC
TriplePoint Venture Growth BDC Corp. is a business development firm specializing in investments in growth-stage venture capital-backed companies. It also provides debt financing to growth space companies, which includes growth capital loans, secured and customized loans, equipment financing, revolving loans and direct equity investments.
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