Zacks: TriplePoint Venture Growth BDC Corp (TPVG) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of TriplePoint Venture Growth BDC Corp (NYSE:TPVG) have been assigned a consensus broker rating score of 1.67 (Buy) from the three analysts that provide coverage for the stock, Zacks Investment Research reports. One research analyst has rated the stock with a hold recommendation and two have issued a strong buy recommendation on the company. TriplePoint Venture Growth BDC’s rating score has improved by 28.3% from 90 days ago as a result of various analysts’ ratings changes.

Analysts have set a 12-month consensus price target of $13.75 for the company and are anticipating that the company will post $0.32 EPS for the current quarter, according to Zacks. Zacks has also assigned TriplePoint Venture Growth BDC an industry rank of 209 out of 265 based on the ratings given to related companies.

TPVG has been the topic of several recent analyst reports. Compass Point downgraded TriplePoint Venture Growth BDC from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $14.41 to $14.00 in a research report on Tuesday, August 29th. Zacks Investment Research downgraded TriplePoint Venture Growth BDC from a “hold” rating to a “sell” rating in a research report on Thursday, November 9th. Finally, ValuEngine downgraded TriplePoint Venture Growth BDC from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 16th.

In other news, CFO Andrew Olson acquired 7,386 shares of the business’s stock in a transaction dated Wednesday, October 25th. The shares were 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 directly owns 7,386 shares in the company, valued at approximately $100,818.90. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, CEO James Labe acquired 22,156 shares of the business’s stock in a transaction dated Wednesday, October 25th. The stock was purchased at an average price of $13.65 per share, for a total transaction of $302,429.40. The disclosure for this purchase can be found here. Insiders have purchased 73,855 shares of company stock worth $1,008,121 over the last quarter. 1.31% of the stock is currently owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new stake in shares of TriplePoint Venture Growth BDC in the second quarter valued at about $354,000. Marshall Wace North America L.P. acquired a new stake in shares of TriplePoint Venture Growth BDC in the second quarter valued at about $565,000. JPMorgan Chase & Co. grew its stake in shares of TriplePoint Venture Growth BDC by 1,418.6% in the second quarter. JPMorgan Chase & Co. now owns 18,238 shares of the investment management company’s stock valued at $242,000 after buying an additional 17,037 shares in the last quarter. Wells Fargo & Company MN grew its stake in shares of TriplePoint Venture Growth BDC by 1.1% in the second quarter. Wells Fargo & Company MN now owns 392,560 shares of the investment management company’s stock valued at $5,225,000 after buying an additional 4,121 shares in the last quarter. Finally, GSA Capital Partners LLP grew its stake in shares of TriplePoint Venture Growth BDC by 35.0% in the second quarter. GSA Capital Partners LLP now owns 15,800 shares of the investment management company’s stock valued at $210,000 after buying an additional 4,100 shares in the last quarter. Institutional investors own 33.79% of the company’s stock.

Shares of TriplePoint Venture Growth BDC (TPVG) opened at $13.53 on Monday. The company has a market capitalization of $239.63, a price-to-earnings ratio of 8.35, a P/E/G ratio of 0.82 and a beta of 1.36. 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 quarterly earnings data on Monday, November 6th. The investment management company reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.01). The company had revenue of $10.42 million for the quarter, compared to analyst estimates of $11.22 million. TriplePoint Venture Growth BDC had a net margin of 43.72% and a return on equity of 12.05%. research analysts predict that TriplePoint Venture Growth BDC will post 1.64 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Friday, November 17th were given a dividend of $0.36 per share. The ex-dividend date was Thursday, November 16th. This represents a $1.44 annualized dividend and a yield of 10.64%. TriplePoint Venture Growth BDC’s dividend payout ratio (DPR) is presently 101.41%.

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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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