TriplePoint Venture Growth BDC (NYSE:TPVG) Upgraded at StockNews.com

StockNews.com upgraded shares of TriplePoint Venture Growth BDC (NYSE:TPVG) from a sell rating to a hold rating in a research report released on Friday morning.

A number of other equities research analysts also recently issued reports on TPVG. Wells Fargo & Company cut their target price on shares of TriplePoint Venture Growth BDC from $8.00 to $6.50 and set an “underweight” rating for the company in a research report on Tuesday, October 29th. Keefe, Bruyette & Woods raised TriplePoint Venture Growth BDC from an “underperform” rating to a “market perform” rating and reduced their price objective for the company from $8.00 to $7.50 in a research report on Thursday, November 7th. LADENBURG THALM/SH SH downgraded TriplePoint Venture Growth BDC from a “buy” rating to a “neutral” rating and cut their price target for the stock from $8.50 to $8.00 in a research note on Friday, August 9th. Finally, Piper Sandler reduced their price target on 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. One analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. Based on data from MarketBeat, TriplePoint Venture Growth BDC currently has an average rating of “Hold” and a consensus target price of $7.65.

TriplePoint Venture Growth BDC Stock Up 0.1 %

Shares of TriplePoint Venture Growth BDC stock opened at $7.90 on Friday. TriplePoint Venture Growth BDC has a 12-month low of $6.44 and a 12-month high of $11.58. The firm has a market capitalization of $316.40 million, a PE ratio of 37.62 and a beta of 1.80. The stock’s fifty day moving average is $7.04 and its 200-day moving average is $7.99.

TriplePoint Venture Growth BDC (NYSE:TPVG) last posted its quarterly earnings data on Wednesday, November 6th. The investment management company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. The company had revenue of $26.52 million during 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 period in the prior year, the firm earned $0.54 earnings per share. Analysts expect that TriplePoint Venture Growth BDC will post 1.4 EPS for the current year.

TriplePoint Venture Growth BDC Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 15.19%. The ex-dividend date of this dividend is Friday, December 13th. TriplePoint Venture Growth BDC’s dividend payout ratio is 571.46%.

Hedge Funds Weigh In On TriplePoint Venture Growth BDC

A number of institutional investors have recently made changes to their positions in TPVG. Quarry LP bought a new stake in TriplePoint Venture Growth BDC during the 2nd quarter valued at approximately $35,000. EverSource Wealth Advisors LLC acquired a new stake in shares of TriplePoint Venture Growth BDC in the second quarter worth $62,000. Diversify Wealth Management LLC acquired a new stake in shares of TriplePoint Venture Growth BDC in the third quarter worth $82,000. Dynamic Technology Lab Private Ltd bought a new position in TriplePoint Venture Growth BDC during the third quarter worth $83,000. Finally, BNP Paribas Financial Markets raised its stake in TriplePoint Venture Growth BDC by 214.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 13,200 shares of the investment management company’s stock valued at $93,000 after purchasing an additional 9,000 shares during the last quarter. 12.77% of the stock is currently owned by institutional investors.

About TriplePoint Venture Growth BDC

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.