Zacks Investment Research upgraded shares of Triplepoint Venture Growth BDC (NYSE:TPVG) from a hold rating to a buy rating in a research note published on Thursday. Zacks Investment Research currently has $15.00 price objective on the investment management company’s stock.

According to Zacks, “TriplePoint Venture Growth BDC Corp. is an externally managed, 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 backed by a select group of leading venture capital investors. TriplePoint Venture Growth BDC Corp. is based in United States. “

Separately, ValuEngine cut Triplepoint Venture Growth BDC from a hold rating to a sell rating in a research report on Friday, November 30th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $14.31.

Shares of Triplepoint Venture Growth BDC stock opened at $13.48 on Thursday. The firm has a market capitalization of $334.03 million, a PE ratio of 7.88, a P/E/G ratio of 2.81 and a beta of 1.20. Triplepoint Venture Growth BDC has a 1 year low of $10.25 and a 1 year high of $13.95.

Triplepoint Venture Growth BDC (NYSE:TPVG) last announced its quarterly earnings data on Wednesday, March 6th. The investment management company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.06. The business had revenue of $17.80 million for the quarter, compared to the consensus estimate of $16.01 million. Triplepoint Venture Growth BDC had a net margin of 56.56% and a return on equity of 12.21%. Research analysts expect that Triplepoint Venture Growth BDC will post 1.59 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Wednesday, March 20th will be given a $0.36 dividend. The ex-dividend date is Tuesday, March 19th. This represents a $1.44 annualized dividend and a yield of 10.68%. Triplepoint Venture Growth BDC’s dividend payout ratio (DPR) is currently 84.21%.

In other news, President Sajal Srivastava bought 7,034 shares of Triplepoint Venture Growth BDC stock in a transaction that occurred on Thursday, December 20th. The stock was purchased at an average cost of $10.43 per share, with a total value of $73,364.62. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.84% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the business. Macquarie Group Ltd. bought a new position in shares of Triplepoint Venture Growth BDC during the fourth quarter valued at $44,000. Great West Life Assurance Co. Can lifted its holdings in shares of Triplepoint Venture Growth BDC by 13.3% during the fourth quarter. Great West Life Assurance Co. Can now owns 6,856 shares of the investment management company’s stock valued at $72,000 after acquiring an additional 806 shares during the period. Sargent Investment Group LLC bought a new position in shares of Triplepoint Venture Growth BDC during the fourth quarter valued at $882,000. Advisor Group Inc. lifted its holdings in shares of Triplepoint Venture Growth BDC by 21.0% during the fourth quarter. Advisor Group Inc. now owns 40,179 shares of the investment management company’s stock valued at $438,000 after acquiring an additional 6,978 shares during the period. Finally, Wiley BROS. Aintree Capital LLC bought a new position in shares of Triplepoint Venture Growth BDC during the fourth quarter valued at $937,000. 34.71% of the stock is owned by institutional investors.

Triplepoint Venture Growth BDC Company Profile

TriplePoint Venture Growth BDC Corp is a business development company specializing investments in growth stage. It also provides debt financing to venture growth space companies which includes growth capital loans, equipment financings, revolving loans, and direct equity investments. The fund seeks to invest in e-commerce, entertainment, technology and life sciences sector.

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