TriplePoint Venture Growth BDC Corp. (NYSE: TPVG) Receives Average “Hold” Rating from Brokerages


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, 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%.

Insider activity

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

(Get a rating)

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.

Featured articles

This instant news alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]

Before you consider TriplePoint Venture Growth BDC, you’ll want to hear this.

MarketBeat tracks Wall Street’s top-rated, top-performing research analysts daily and the stocks they recommend to their clients. MarketBeat identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market takes over…and TriplePoint Venture Growth BDC didn’t make the list.

Although TriplePoint Venture Growth BDC currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.

See the five actions here


About Author

Comments are closed.