TriplePoint Venture Growth BDC Corp. (NYSE:TPVG – Get Rating) – Equities researchers at Oppenheimer upped their Q3 2022 earnings per share (EPS) estimates for shares of TriplePoint Venture Growth BDC in a research report issued on Thursday, August 4th. Oppenheimer analyst M. Penn now anticipates that the investment management company will earn $0.42 per share for the quarter, up from their prior forecast of $0.38. The consensus estimate for TriplePoint Venture Growth BDC’s current full-year earnings is $1.67 per share. Oppenheimer also issued estimates for TriplePoint Venture Growth BDC’s Q4 2022 earnings at $0.42 EPS, FY2022 earnings at $1.68 EPS, Q1 2023 earnings at $0.42 EPS, Q2 2023 earnings at $0.42 EPS, Q3 2023 earnings at $0.42 EPS, Q4 2023 earnings at $0.42 EPS and FY2023 earnings at $1.68 EPS.
Other equities research analysts have also recently issued reports about the company. StockNews.com cut TriplePoint Venture Growth BDC from a “hold” rating to a “sell” rating in a research note on Friday. Wells Fargo & Company increased their price target on TriplePoint Venture Growth BDC from $17.50 to $18.00 and gave the company an “overweight” rating in a research note on Monday, April 25th. Finally, Piper Sandler decreased their price target on TriplePoint Venture Growth BDC from $19.00 to $16.00 and set an “overweight” rating for the company in a research note on Tuesday, June 28th. One equities 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. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $17.19.
TriplePoint Venture Growth BDC Price Performance
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Shares of NYSE TPVG opened at $13.48 on Monday. The business has a fifty day moving average price of $13.49 and a 200 day moving average price of $15.39. TriplePoint Venture Growth BDC has a 1-year low of $11.86 and a 1-year high of $19.25. The stock has a market capitalization of $418.38 million, a P/E ratio of 9.43 and a beta of 1.68.
TriplePoint Venture Growth BDC (NYSE:TPVG – Get Rating) last issued its quarterly earnings data on Wednesday, August 3rd. The investment management company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.04. TriplePoint Venture Growth BDC had a return on equity of 11.35% and a net margin of 43.80%. During the same quarter in the previous year, the company posted $0.30 earnings per share.
TriplePoint Venture Growth BDC Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Thursday, September 15th will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 10.68%. The ex-dividend date of this dividend is Wednesday, September 14th. TriplePoint Venture Growth BDC’s dividend payout ratio is presently 100.70%.
Insider Activity
In other news, CFO Christopher M. Mathieu acquired 10,000 shares of the business’s stock in a transaction dated Friday, June 17th. The shares were acquired at an average cost of $12.16 per share, with a total value of $121,600.00. Following the completion of the acquisition, the chief financial officer now owns 25,500 shares of the company’s stock, valued at $310,080. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 1.38% of the company’s stock.
Institutional Trading of TriplePoint Venture Growth BDC
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Van ECK Associates Corp grew its holdings in TriplePoint Venture Growth BDC by 52.7% during the first quarter. Van ECK Associates Corp now owns 722,692 shares of the investment management company’s stock worth $12,618,000 after acquiring an additional 249,437 shares during the period. Sound Income Strategies LLC boosted its position in TriplePoint Venture Growth BDC by 8.7% during the second quarter. Sound Income Strategies LLC now owns 433,384 shares of the investment management company’s stock worth $5,521,000 after purchasing an additional 34,599 shares in the last quarter. Advisors Asset Management Inc. boosted its position in TriplePoint Venture Growth BDC by 8.4% during the first quarter. Advisors Asset Management Inc. now owns 324,132 shares of the investment management company’s stock worth $5,659,000 after purchasing an additional 25,015 shares in the last quarter. Hennion & Walsh Asset Management Inc. boosted its position in TriplePoint Venture Growth BDC by 14.0% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 231,134 shares of the investment management company’s stock worth $4,036,000 after purchasing an additional 28,406 shares in the last quarter. Finally, Farmer Steven Patrick purchased a new position in TriplePoint Venture Growth BDC during the second quarter worth approximately $1,406,000. 22.75% of the stock is owned by institutional investors and hedge funds.
About TriplePoint Venture Growth BDC
TriplePoint Venture Growth BDC Corp. is a business development company specializing investments in venture capital-backed companies at the growth stage investments. It also provides debt financing to venture growth space companies which includes growth capital loans, secured and customized loans, equipment financings, revolving loans and direct equity investments.
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