Zacks: TriplePoint Venture Growth BDC Corp (TPVG) Given $13.75 Consensus Target Price by Analysts

Shares of TriplePoint Venture Growth BDC Corp (NYSE:TPVG) have been given a consensus broker rating score of 1.67 (Buy) from the three brokers that cover the stock, Zacks Investment Research reports. One analyst has rated the stock with a hold recommendation and two have given a strong buy recommendation to the company. TriplePoint Venture Growth BDC’s rating score has improved by 28.3% from three months ago as a result of a number of analysts’ upgrades and downgrades.

Brokerages have set a 12 month consensus price target of $13.75 for the company and are predicting that the company will post $0.32 EPS for the current quarter, according to Zacks. Zacks has also given TriplePoint Venture Growth BDC an industry rank of 211 out of 265 based on the ratings given to related companies.

Several equities research analysts recently weighed in on the company. Compass Point cut TriplePoint Venture Growth BDC from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $14.41 to $14.00 in a research note on Tuesday, August 29th. ValuEngine cut TriplePoint Venture Growth BDC from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 16th. Zacks Investment Research cut TriplePoint Venture Growth BDC from a “hold” rating to a “sell” rating in a research note on Thursday, November 9th. Finally, Ladenburg Thalmann Financial Services assumed coverage on TriplePoint Venture Growth BDC in a research note on Tuesday, December 12th. They issued a “neutral” rating for the company.

Shares of TriplePoint Venture Growth BDC (TPVG) opened at $13.05 on Tuesday. The firm has a market capitalization of $230.07, a P/E ratio of 9.26, a P/E/G ratio of 0.79 and a beta of 1.31. TriplePoint Venture Growth BDC has a 52 week low of $11.66 and a 52 week high of $14.41.

TriplePoint Venture Growth BDC (NYSE:TPVG) last posted its earnings results on Monday, November 6th. The investment management company reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.01). The business had revenue of $10.42 million for the quarter, compared to analysts’ expectations of $11.22 million. TriplePoint Venture Growth BDC had a return on equity of 12.05% and a net margin of 43.72%. analysts forecast that TriplePoint Venture Growth BDC will post 1.64 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Friday, November 17th were paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 11.03%. The ex-dividend date of this dividend was Thursday, November 16th. TriplePoint Venture Growth BDC’s dividend payout ratio is currently 102.13%.

In related news, President Sajal Srivastava bought 44,313 shares of the company’s stock in a transaction dated Wednesday, October 25th. The shares were acquired at an average price of $13.65 per share, with a total value of $604,872.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Andrew Olson bought 7,386 shares of the company’s stock in a transaction dated Wednesday, October 25th. The stock was bought at an average cost of $13.65 per share, for a total transaction of $100,818.90. Following the acquisition, the chief financial officer now owns 7,386 shares of the company’s stock, valued at approximately $100,818.90. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 73,855 shares of company stock valued at $1,008,121. 1.31% of the stock is owned by company insiders.

Several large investors have recently added to or reduced their stakes in TPVG. Delphi Management Inc. MA increased its holdings in shares of TriplePoint Venture Growth BDC by 48.9% in the second quarter. Delphi Management Inc. MA now owns 170,918 shares of the investment management company’s stock valued at $2,275,000 after purchasing an additional 56,121 shares during the period. Marshall Wace North America L.P. acquired a new position in shares of TriplePoint Venture Growth BDC in the second quarter valued at approximately $565,000. Wells Fargo & Company MN increased its holdings in shares of TriplePoint Venture Growth BDC by 9.1% in the third quarter. Wells Fargo & Company MN now owns 428,472 shares of the investment management company’s stock valued at $5,742,000 after purchasing an additional 35,912 shares during the period. Shelton Capital Management increased its holdings in shares of TriplePoint Venture Growth BDC by 185.6% in the second quarter. Shelton Capital Management now owns 47,703 shares of the investment management company’s stock valued at $635,000 after purchasing an additional 31,000 shares during the period. Finally, Susquehanna International Group LLP increased its holdings in shares of TriplePoint Venture Growth BDC by 206.2% in the second quarter. Susquehanna International Group LLP now owns 15,717 shares of the investment management company’s stock valued at $209,000 after purchasing an additional 30,510 shares during the period. 33.76% of the stock is currently owned by institutional investors and hedge funds.

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TriplePoint Venture Growth BDC Company Profile

TriplePoint Venture Growth BDC Corp. is a closed-end, non-diversified management investment company. The Company’s investment objective is to maximize its total return to stockholders primarily in the form of current income and, to a lesser extent, capital appreciation by primarily lending with warrants to venture growth stage companies focused in technology, life sciences and other high growth industries, which are backed by TriplePoint Capital LLC’s (TPC) select group of venture capital investors.

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