TriplePoint Venture Growth BDC (NYSE:TPVG) Rating Reiterated by JMP Securities

JMP Securities restated their market outperform rating on shares of TriplePoint Venture Growth BDC (NYSE:TPVG – Get Rating) in a research note issued to investors on Monday morning, Benzinga reports. The firm currently has a $13.50 price target on the investment management company’s stock.

TPVG has been the subject of several other research reports. Piper Sandler reduced their price objective on shares of TriplePoint Venture Growth BDC from $13.50 to $12.00 in a research note on Friday, December 16th. Keefe, Bruyette & Woods lowered shares of TriplePoint Venture Growth BDC from a market perform rating to an underperform rating and reduced their price objective for the company from $13.00 to $10.00 in a research note on Tuesday, December 20th. Finally, UBS Group started coverage on shares of TriplePoint Venture Growth BDC in a research note on Thursday, December 1st. They issued a neutral rating and a $13.50 price objective for the company. Two analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, TriplePoint Venture Growth BDC currently has an average rating of Hold and a consensus price target of $12.50.

TriplePoint Venture Growth BDC Stock Up 3.6 %

TPVG stock opened at $11.14 on Monday. TriplePoint Venture Growth BDC has a 12-month low of $10.10 and a 12-month high of $17.98. The company has a market cap of $393.80 million, a price-to-earnings ratio of -18.57 and a beta of 1.72. The company has a 50 day moving average of $11.74 and a two-hundred day moving average of $12.02.

TriplePoint Venture Growth BDC Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Wednesday, March 15th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 14.36%. The ex-dividend date of this dividend is Tuesday, March 14th. This is an increase from TriplePoint Venture Growth BDC’s previous quarterly dividend of $0.37. TriplePoint Venture Growth BDC’s dividend payout ratio (DPR) is -246.66%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Millennium Management LLC boosted its position in shares of 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’s stock valued at $6,127,000 after acquiring an additional 468,481 shares in the last quarter. Sound Income Strategies LLC raised its stake in shares of TriplePoint Venture Growth BDC by 35.2% during the fourth quarter. Sound Income Strategies LLC now owns 639,509 shares of the investment management company’s stock worth $6,670,000 after buying an additional 166,476 shares during the last quarter. Marshall Wace LLP increased its stake in TriplePoint Venture Growth BDC by 222.2% in the third quarter. Marshall Wace LLP now owns 102,979 shares of the investment management company’s stock valued at $1,118,000 after purchasing an additional 71,022 shares in the last quarter. Two Sigma Advisers LP increased its stake in TriplePoint Venture Growth BDC by 26.6% in the third quarter. Two Sigma Advisers LP now owns 294,292 shares of the investment management company’s stock valued at $3,196,000 after purchasing an additional 61,800 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. bought a new stake in TriplePoint Venture Growth BDC in the third quarter valued at approximately $545,000. Institutional investors own 20.93% of the company’s stock.

About TriplePoint Venture Growth BDC

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TriplePoint Venture Growth BDC Corp. (the “Company“) is an externally managed, closed-end, non-diversified management investment company that has elected to be regulated as a business development company under the Investment Company Act of 1940, as amended. It was formed to expand the venture growth stage business segment of its sponsor, TriplePoint Capital LLC (“TriplePoint Capital“).