Brokerages Set TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) Target Price at $7.70

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) has been assigned a consensus recommendation of “Hold” from the six analysts that are covering the stock, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold rating. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $7.70.

Several research analysts recently commented on TPVG shares. StockNews.com upgraded shares of TriplePoint Venture Growth BDC from a “sell” rating to a “hold” rating in a report on Friday, November 15th. Keefe, Bruyette & Woods raised 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 report on Thursday, November 7th. Piper Sandler decreased 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 report on Thursday, November 7th. Compass Point lifted their target price on 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. Finally, Wells Fargo & Company increased their price objective on shares of TriplePoint Venture Growth BDC from $6.50 to $7.50 and gave the stock an “equal weight” rating in a research note on Tuesday, November 19th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Millennium Management LLC lifted its holdings in TriplePoint Venture Growth BDC by 169.5% in the 2nd 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 during the last quarter. Marshall Wace LLP purchased a new stake in TriplePoint Venture Growth BDC in the 2nd quarter worth approximately $1,486,000. International Assets Investment Management LLC grew its stake in TriplePoint Venture Growth BDC by 435.6% in the third quarter. International Assets Investment Management LLC now owns 107,630 shares of the investment management company’s stock valued at $760,000 after purchasing an additional 87,535 shares in the last quarter. Jane Street Group LLC increased its holdings in TriplePoint Venture Growth BDC by 712.4% in the third 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. Finally, Townsquare Capital LLC increased its stake in shares of TriplePoint Venture Growth BDC by 12.3% during the 3rd quarter. Townsquare Capital LLC now owns 75,845 shares of the investment management company’s stock worth $535,000 after purchasing an additional 8,311 shares during the last quarter. 12.77% of the stock is currently owned by institutional investors.

TriplePoint Venture Growth BDC Trading Down 1.6 %

NYSE:TPVG opened at $7.61 on Tuesday. TriplePoint Venture Growth BDC has a 12-month low of $6.44 and a 12-month high of $11.58. The company’s 50-day moving average is $7.75 and its two-hundred day moving average is $7.57. The firm has a market cap of $304.58 million, a price-to-earnings ratio of 36.22 and a beta of 1.88.

TriplePoint Venture Growth BDC (NYSE:TPVG) last released its earnings results on Wednesday, November 6th. The investment management company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. TriplePoint Venture Growth BDC had a net margin of 9.01% and a return on equity of 16.86%. The firm had revenue of $26.52 million during the quarter, compared to the consensus estimate of $25.65 million. During the same period in the previous year, the firm earned $0.54 earnings per share. On average, equities research analysts forecast that TriplePoint Venture Growth BDC will post 1.4 earnings per share for the current fiscal year.

TriplePoint Venture Growth BDC Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 15.78%. The ex-dividend date was Friday, December 13th. TriplePoint Venture Growth BDC’s dividend payout ratio is currently 571.46%.

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.