TriplePoint Venture Growth BDC (NYSE:TPVG) Price Target Cut to $11.50

TriplePoint Venture Growth BDC (NYSE:TPVG – Get Rating) had its price target lowered by JMP Securities from $13.50 to $11.50 in a research report report published on Tuesday, The Fly reports.

A number of other research firms also recently issued reports on TPVG. 22nd Century Group restated a downgrade rating on shares of TriplePoint Venture Growth BDC in a report on Thursday, May 4th. LADENBURG THALM/SH SH decreased their price objective on shares of TriplePoint Venture Growth BDC from $14.50 to $13.50 in a report on Thursday, May 4th. StockNews.com started coverage on shares of TriplePoint Venture Growth BDC in a report on Thursday, May 18th. They set a sell rating for the company. Finally, Wells Fargo & Company downgraded shares of TriplePoint Venture Growth BDC from an overweight rating to an equal weight rating and decreased their price objective for the stock from $12.00 to $10.00 in a report on Thursday, May 4th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, TriplePoint Venture Growth BDC has an average rating of Hold and an average target price of $11.75.

TriplePoint Venture Growth BDC Price Performance

Shares of TPVG stock opened at $10.62 on Tuesday. The firm has a 50-day moving average of $11.34 and a 200-day moving average of $11.73. The company has a market cap of $375.92 million, a P/E ratio of -18.98 and a beta of 1.74. TriplePoint Venture Growth BDC has a one year low of $9.41 and a one year high of $15.24.

TriplePoint Venture Growth BDC (NYSE:TPVG – Get Rating) last announced its earnings results on Wednesday, March 1st. The investment management company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.44 by $0.14. The company had revenue of $34.95 million during the quarter, compared to the consensus estimate of $33.06 million. TriplePoint Venture Growth BDC had a negative net margin of 14.40% and a positive return on equity of 16.27%. As a group, research analysts expect that TriplePoint Venture Growth BDC will post 2.06 earnings per share for the current fiscal year.

TriplePoint Venture Growth BDC Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Thursday, June 15th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, June 14th. This represents a $1.60 dividend on an annualized basis and a yield of 15.07%. TriplePoint Venture Growth BDC’s dividend payout ratio is presently -285.71%.

Hedge Funds Weigh In On TriplePoint Venture Growth BDC

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TPVG. Ameriprise Financial Inc. boosted its position in shares of TriplePoint Venture Growth BDC by 13.1% in the first quarter. Ameriprise Financial Inc. now owns 189,866 shares of the investment management company’s stock valued at $2,292,000 after acquiring an additional 21,988 shares during the period. B. Riley Wealth Advisors Inc. increased its stake in shares of TriplePoint Venture Growth BDC by 2.0% in the first quarter. B. Riley Wealth Advisors Inc. now owns 51,297 shares of the investment management company’s stock worth $620,000 after buying an additional 996 shares during the period. Advisors Asset Management Inc. increased its stake in shares of TriplePoint Venture Growth BDC by 4.4% in the first quarter. Advisors Asset Management Inc. now owns 340,187 shares of the investment management company’s stock worth $4,109,000 after buying an additional 14,292 shares during the period. Bank of America Corp DE increased its stake in shares of TriplePoint Venture Growth BDC by 112.5% in the first quarter. Bank of America Corp DE now owns 4,271 shares of the investment management company’s stock worth $52,000 after buying an additional 2,261 shares during the period. Finally, Tradition Wealth Management LLC increased its stake in shares of TriplePoint Venture Growth BDC by 18.0% in the first quarter. Tradition Wealth Management LLC now owns 7,931 shares of the investment management company’s stock worth $96,000 after buying an additional 1,208 shares during the period. Institutional investors own 20.93% of the company’s stock.

TriplePoint Venture Growth BDC Company Profile

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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“).