TriplePoint Venture Growth BDC (NYSE:TPVG) Raised to Market Perform at Keefe, Bruyette & Woods

by · The Markets Daily

Keefe, Bruyette & Woods upgraded shares of TriplePoint Venture Growth BDC (NYSE:TPVG – Free Report) from an underperform rating to a market perform rating in a research report report published on Thursday, MarketBeat.com reports. The brokerage currently has $7.50 price target on the investment management company’s stock, down from their prior price target of $8.00.

TPVG has been the subject of several other research reports. LADENBURG THALM/SH SH cut shares of TriplePoint Venture Growth BDC from a “buy” rating to a “neutral” rating and dropped their price target for the company from $8.50 to $8.00 in a research note on Friday, August 9th. Piper Sandler dropped their price target on shares of TriplePoint Venture Growth BDC from $9.50 to $8.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Finally, Wells Fargo & Company lowered their price objective 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. Two analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. Based on data from MarketBeat.com, TriplePoint Venture Growth BDC has an average rating of “Hold” and a consensus price target of $7.65.

View Our Latest Report on TriplePoint Venture Growth BDC

TriplePoint Venture Growth BDC Stock Performance

NYSE:TPVG traded up $0.31 during mid-day trading on Thursday, hitting $7.85. 431,092 shares of the company’s stock traded hands, compared to its average volume of 361,796. The company has a fifty day moving average of $6.99 and a 200 day moving average of $8.07. The company has a market capitalization of $313.61 million, a P/E ratio of 35.98 and a beta of 1.80. TriplePoint Venture Growth BDC has a twelve month low of $6.44 and a twelve month high of $11.58.

TriplePoint Venture Growth BDC (NYSE:TPVG – Get Free Report) last released its quarterly earnings results on Wednesday, August 7th. The investment management company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.10). TriplePoint Venture Growth BDC had a return on equity of 17.07% and a net margin of 9.01%. The business had revenue of $27.11 million during the quarter, compared to analyst estimates of $28.77 million. During the same period in the previous year, the company posted $0.53 EPS. On average, research analysts expect that TriplePoint Venture Growth BDC will post 1.4 earnings per share for the current fiscal year.

TriplePoint Venture Growth BDC Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be given a $0.30 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.20 dividend on an annualized basis and a yield of 15.29%. TriplePoint Venture Growth BDC’s dividend payout ratio (DPR) is presently 571.46%.

Insiders Place Their Bets

In related news, President Sajal Srivastava acquired 11,298 shares of TriplePoint Venture Growth BDC stock in a transaction on Monday, August 12th. The stock was purchased at an average cost of $7.02 per share, with a total value of $79,311.96. Following the purchase, the president now directly owns 250,858 shares in the company, valued at approximately $1,761,023.16. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.01% of the stock is currently owned by insiders.

Institutional Trading of TriplePoint Venture Growth BDC

Several hedge funds and other institutional investors have recently made changes to their positions in TPVG. Millennium Management LLC lifted its stake 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 buying an additional 271,824 shares in the last quarter. Van ECK Associates Corp boosted its holdings in TriplePoint Venture Growth BDC by 16.4% in the second quarter. Van ECK Associates Corp now owns 846,716 shares of the investment management company’s stock valued at $6,799,000 after purchasing an additional 119,184 shares during the last quarter. Marshall Wace LLP acquired a new stake in TriplePoint Venture Growth BDC during the 2nd quarter valued at approximately $1,486,000. International Assets Investment Management LLC increased its holdings in TriplePoint Venture Growth BDC by 435.6% during the 3rd quarter. International Assets Investment Management LLC now owns 107,630 shares of the investment management company’s stock worth $760,000 after purchasing an additional 87,535 shares during the last quarter. Finally, Norden Group LLC raised its position in shares of TriplePoint Venture Growth BDC by 20.0% in the 1st quarter. Norden Group LLC now owns 17,860 shares of the investment management company’s stock valued at $169,000 after purchasing an additional 2,972 shares in the last quarter. Hedge funds and other institutional investors own 12.77% of the company’s stock.

TriplePoint Venture Growth BDC Company Profile

(Get Free Report)

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.

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