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 report released on Friday morning.

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

TriplePoint Venture Growth BDC Price Performance

TriplePoint Venture Growth BDC stock opened at $7.98 on Friday. The business has a 50 day simple moving average of $7.04 and a 200 day simple moving average of $7.98. The company has a market capitalization of $319.40 million, a PE ratio of 37.62 and a beta of 1.80. TriplePoint Venture Growth BDC has a one year low of $6.44 and a one year high of $11.58.

TriplePoint Venture Growth BDC (NYSE:TPVG) last released its quarterly earnings data on Wednesday, November 6th. The investment management company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.01. TriplePoint Venture Growth BDC had a return on equity of 16.86% and a net margin of 9.01%. The firm had revenue of $26.52 million during the quarter, compared to analyst estimates of $25.65 million. During the same period in the prior year, the company posted $0.54 earnings per share. Equities analysts anticipate that TriplePoint Venture Growth BDC will post 1.4 earnings per share for the current fiscal year.

TriplePoint Venture Growth BDC Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.20 annualized dividend and a yield of 15.05%. TriplePoint Venture Growth BDC’s dividend payout ratio is currently 571.46%.

Hedge Funds Weigh In On TriplePoint Venture Growth BDC

Several large investors have recently bought and sold shares of TPVG. Paloma Partners Management Co acquired a new stake in TriplePoint Venture Growth BDC during the 1st quarter worth $184,000. B. Riley Wealth Advisors Inc. raised its holdings in shares of TriplePoint Venture Growth BDC by 10.2% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 48,852 shares of the investment management company’s stock valued at $511,000 after purchasing an additional 4,512 shares during the period. U.S. Capital Wealth Advisors LLC raised its stake in TriplePoint Venture Growth BDC by 19.4% in the second quarter. U.S. Capital Wealth Advisors LLC now owns 19,064 shares of the investment management company’s stock valued at $153,000 after buying an additional 3,100 shares during the period. Commonwealth Equity Services LLC lifted its holdings in TriplePoint Venture Growth BDC by 4.5% during the 2nd quarter. Commonwealth Equity Services LLC now owns 31,132 shares of the investment management company’s stock valued at $250,000 after purchasing an additional 1,346 shares during the last quarter. Finally, Van ECK Associates Corp raised its position in shares of 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 period. 12.77% of the stock is currently owned by institutional investors and hedge funds.

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.