TriplePoint Venture Growth BDC Corp. (TPVG) Downgraded by ValuEngine to “Buy”

ValuEngine cut shares of TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) from a strong-buy rating to a buy rating in a report issued on Thursday.

A number of other equities analysts have also issued reports on the company. Zacks Investment Research lowered TriplePoint Venture Growth BDC Corp. from a hold rating to a sell rating in a research note on Thursday, November 9th. Compass Point lowered TriplePoint Venture Growth BDC Corp. from a buy rating to a neutral rating and decreased their price target for the company from $14.41 to $14.00 in a research note on Tuesday, August 29th.

Shares of TriplePoint Venture Growth BDC Corp. (NYSE TPVG) traded down $0.06 during midday trading on Thursday, reaching $13.35. The company’s stock had a trading volume of 73,815 shares, compared to its average volume of 102,085. The company has a market cap of $244.95, a price-to-earnings ratio of 8.64, a P/E/G ratio of 0.85 and a beta of 1.39. TriplePoint Venture Growth BDC Corp. has a 52-week low of $11.66 and a 52-week high of $14.41.

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

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The company also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Friday, November 17th will be paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 10.79%. The ex-dividend date of this dividend is Thursday, November 16th. TriplePoint Venture Growth BDC Corp.’s payout ratio is currently 101.41%.

In related news, President Sajal Srivastava acquired 44,313 shares of TriplePoint Venture Growth BDC Corp. stock in a transaction dated Wednesday, October 25th. The stock was acquired at an average cost of $13.65 per share, with a total value of $604,872.45. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Andrew Olson acquired 7,386 shares of TriplePoint Venture Growth BDC Corp. stock in a transaction dated Wednesday, October 25th. The shares were bought at an average cost of $13.65 per share, with a total value of $100,818.90. Following the completion of the purchase, the chief financial officer now owns 7,386 shares in the company, valued at $100,818.90. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 73,855 shares of company stock valued at $1,008,121. Corporate insiders own 1.31% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Delphi Management Inc. MA boosted its stake in shares of TriplePoint Venture Growth BDC Corp. by 48.9% during the 2nd quarter. Delphi Management Inc. MA now owns 170,918 shares of the investment management company’s stock worth $2,275,000 after acquiring an additional 56,121 shares in the last quarter. Shelton Capital Management boosted its stake in shares of TriplePoint Venture Growth BDC Corp. by 185.6% during the 2nd quarter. Shelton Capital Management now owns 47,703 shares of the investment management company’s stock worth $635,000 after acquiring an additional 31,000 shares in the last quarter. Marshall Wace North America L.P. bought a new stake in shares of TriplePoint Venture Growth BDC Corp. during the 2nd quarter worth $565,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of TriplePoint Venture Growth BDC Corp. during the 2nd quarter worth $381,000. Finally, JPMorgan Chase & Co. boosted its stake in shares of TriplePoint Venture Growth BDC Corp. by 1,418.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 18,238 shares of the investment management company’s stock worth $242,000 after acquiring an additional 17,037 shares in the last quarter. 33.76% of the stock is owned by institutional investors and hedge funds.

TriplePoint Venture Growth BDC Corp. 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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