TriplePoint Venture Growth BDC (NYSE:TPVG) Price Target Cut to $7.00 by Analysts at Keefe, Bruyette & Woods

TriplePoint Venture Growth BDC (NYSE:TPVG) had its target price lowered by Keefe, Bruyette & Woods from $7.50 to $7.00 in a report issued on Tuesday morning,Benzinga reports. The brokerage currently has a market perform rating on the investment management company’s stock.

A number of other equities research analysts also recently weighed in on the company. Piper Sandler decreased their price objective on TriplePoint Venture Growth BDC from $8.00 to $7.00 and set a “neutral” rating on the stock in a report on Tuesday. Wells Fargo & Company cut TriplePoint Venture Growth BDC from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $7.50 to $6.50 in a research report on Monday, March 17th. Finally, Compass Point dropped their price objective on TriplePoint Venture Growth BDC from $8.00 to $7.25 and set a “neutral” rating for the company in a research note on Tuesday, March 18th. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $7.15.

TriplePoint Venture Growth BDC Stock Performance

Shares of TPVG opened at $5.73 on Tuesday. The company has a 50-day simple moving average of $7.44 and a 200-day simple moving average of $7.42. TriplePoint Venture Growth BDC has a 52 week low of $5.53 and a 52 week high of $9.73. The firm has a market capitalization of $229.99 million, a P/E ratio of 27.29 and a beta of 1.65.

TriplePoint Venture Growth BDC (NYSE:TPVG) last released its quarterly earnings data on Wednesday, March 5th. The investment management company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). TriplePoint Venture Growth BDC had a net margin of 9.01% and a return on equity of 16.86%. The firm had revenue of $25.75 million for the quarter, compared to the consensus estimate of $26.68 million. As a group, equities analysts forecast that TriplePoint Venture Growth BDC will post 1.4 earnings per share for the current year.

TriplePoint Venture Growth BDC Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were given a $0.30 dividend. The ex-dividend date of this dividend was Monday, March 17th. This represents a $1.20 annualized dividend and a yield of 20.94%. TriplePoint Venture Growth BDC’s payout ratio is 146.34%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of TPVG. Jane Street Group LLC grew its position in shares of TriplePoint Venture Growth BDC by 712.4% during the 3rd quarter. Jane Street Group LLC now owns 104,997 shares of the investment management company’s stock worth $741,000 after buying an additional 92,072 shares during the period. BNP Paribas Financial Markets lifted its stake in shares of TriplePoint Venture Growth BDC by 214.3% in 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 period. XTX Topco Ltd bought a new position in shares of TriplePoint Venture Growth BDC in the 3rd quarter worth $118,000. Strategic Financial Concepts LLC bought a new stake in TriplePoint Venture Growth BDC in the fourth quarter valued at about $120,000. Finally, EverSource Wealth Advisors LLC lifted its stake in TriplePoint Venture Growth BDC by 25.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 10,000 shares of the investment management company’s stock valued at $74,000 after buying an additional 2,000 shares during the period. Institutional investors and hedge funds own 12.77% of the company’s stock.

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.