TriplePoint Venture Growth BDC Corp. (NYSE: TPVG – Get a rating) was given a consensus rating of “Hold” by the six brokerages that currently cover the business, Marketbeat reports. One financial analyst rated the stock with a sell recommendation, one gave the company a hold recommendation and three gave the company a buy recommendation. The 12-month average price target among analysts who have updated their coverage of the stock over the past year is $17.19.
The TPVG has been the subject of a number of recent research reports. TheStreet downgraded TriplePoint Venture Growth BDC from a “b-” rating to a “c” rating in a Tuesday, August 23 research note. Piper Sandler cut her price target on TriplePoint Venture Growth BDC shares from $19.00 to $16.00 and set an “overweight” rating for the company in a Tuesday, June 28 research report. To finish, StockNews.com downgraded shares of TriplePoint Venture Growth BDC from a “hold” rating to a “sell” rating in a Tuesday, Aug. 23, report.
TriplePoint Venture Growth BDC Price Performance
NYSE TPVG shares opened at $12.56 on Monday. The stock’s fifty-day moving average price is $13.39 and its two-hundred-day moving average price is $14.70. The company has a market capitalization of $389.82 million, a price-earnings ratio of 8.78 and a beta of 1.68. TriplePoint Venture Growth BDC has a one-year low of $11.86 and a one-year high of $19.25.
TriplePoint Venture Growth BDC (NYSE: TPVG – Get a rating) last released its quarterly earnings data on Wednesday, August 3. The investment management firm reported earnings per share of $0.41 for the quarter, beating the consensus estimate of $0.37 by $0.04. TriplePoint Venture Growth BDC posted a net margin of 43.80% and a return on equity of 11.53%. The company posted revenue of $27.43 million in the quarter, compared to $24.48 million expected by analysts. In the same quarter of the previous year, the company achieved EPS of $0.30. On average, stock analysts expect TriplePoint Venture Growth BDC to post earnings per share of 1.67 for the current fiscal year.
TriplePoint Venture Growth BDC Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, September 30. Shareholders of record on Thursday, September 15 will receive a dividend of $0.36 per share. This represents an annualized dividend of $1.44 and a yield of 11.46%. The ex-dividend date is 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 purchase, the CFO now directly owns 35,500 shares of the company, valued at $473,570. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, accessible via this hyperlink. 1.38% of the shares are currently held by insiders.
Institutional entries and exits
Several institutional investors and hedge funds have recently changed their positions in the company. Captrust Financial Advisors acquired a new stake in TriplePoint Venture Growth BDC during Q2 for a value of approximately $25,000. Legal & General Group Plc increased its equity stake in TriplePoint Venture Growth BDC by 5.9% during the second quarter. Legal & General Group Plc now owns 183,723 shares in the investment management company worth $2,345,000 after buying an additional 10,274 shares during the period. Jane Street Group LLC purchased a new stake in shares of TriplePoint Venture Growth BDC in the second quarter at a value of $353,000. Cubist Systematic Strategies LLC acquired a new stake in TriplePoint Venture Growth BDC in the second quarter valued at $118,000. Finally, Millennium Management LLC increased its position in TriplePoint Venture Growth BDC by 3,755.7% during the 2nd quarter. Millennium Management LLC now owns 480,955 shares of the investment management company worth $6,127,000 after purchasing an additional 468,481 shares in the last quarter. Institutional investors and hedge funds own 22.15% of the company’s shares.
About 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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