TriplePoint Venture Growth BDC (NYSE:TPVG) Stock Rating Reaffirmed by 92 Resources

92 Resources reissued their maintains rating on shares of TriplePoint Venture Growth BDC (NYSE:TPVG – Get Rating) in a research note released on Tuesday, Benzinga reports.

Other equities analysts have also recently issued research reports about the stock. StockNews.com started coverage on shares of TriplePoint Venture Growth BDC in a research report on Thursday, May 18th. They set a sell rating on the stock. LADENBURG THALM/SH SH cut their price target on TriplePoint Venture Growth BDC from $14.50 to $13.50 in a report on Thursday, May 4th. 22nd Century Group reaffirmed a downgrade rating on shares of TriplePoint Venture Growth BDC in a report on Thursday, May 4th. JMP Securities cut their price target on TriplePoint Venture Growth BDC from $13.50 to $11.50 in a report on Tuesday. Finally, Wells Fargo & Company lowered shares of TriplePoint Venture Growth BDC from an overweight rating to an equal weight rating and decreased their price target for the stock from $12.00 to $10.00 in a research report on Thursday, May 4th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. According to 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

TPVG opened at $10.60 on Tuesday. The stock has a market cap of $375.24 million, a P/E ratio of -18.93 and a beta of 1.74. The stock’s 50 day simple moving average is $11.32 and its 200 day simple moving average is $11.71. TriplePoint Venture Growth BDC has a 1-year low of $9.41 and a 1-year high of $15.24.

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

TriplePoint Venture Growth BDC Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Thursday, June 15th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 15.09%. The ex-dividend date is Wednesday, June 14th. TriplePoint Venture Growth BDC’s dividend payout ratio (DPR) is -285.71%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Raymond James & Associates lifted its position in shares of TriplePoint Venture Growth BDC by 16.2% in the 1st quarter. Raymond James & Associates now owns 28,048 shares of the investment management company’s stock worth $490,000 after purchasing an additional 3,918 shares during the period. HighTower Advisors LLC boosted its position in shares of TriplePoint Venture Growth BDC by 4.7% in the first quarter. HighTower Advisors LLC now owns 36,490 shares of the investment management company’s stock valued at $637,000 after acquiring an additional 1,650 shares during the period. PNC Financial Services Group Inc. raised its stake in TriplePoint Venture Growth BDC by 264.0% in the first quarter. PNC Financial Services Group Inc. now owns 34,470 shares of the investment management company’s stock valued at $601,000 after purchasing an additional 25,000 shares in the last quarter. Lazard Asset Management LLC purchased a new stake in TriplePoint Venture Growth BDC in the first quarter valued at approximately $39,000. Finally, UBS Group AG raised its stake in shares of TriplePoint Venture Growth BDC by 9.6% during the first quarter. UBS Group AG now owns 57,170 shares of the investment management company’s stock worth $998,000 after acquiring an additional 5,031 shares in the last quarter. Institutional investors and hedge funds 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“).