TriplePoint Venture Growth BDC Corp (TPVG) Rating Increased to Strong-Buy at ValuEngine

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

Separately, Zacks Investment Research lowered TriplePoint Venture Growth BDC Corp from a buy rating to a hold rating in a research note on Thursday, May 4th.

Shares of TriplePoint Venture Growth BDC Corp (TPVG) traded up 0.44% during midday trading on Thursday, reaching $13.67. The company’s stock had a trading volume of 110,100 shares. The stock has a 50-day moving average price of $13.15 and a 200 day moving average price of $13.44. TriplePoint Venture Growth BDC Corp has a 52 week low of $10.25 and a 52 week high of $14.41.

TriplePoint Venture Growth BDC Corp (NYSE:TPVG) last posted its quarterly earnings data on Tuesday, August 8th. The investment management company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.23. The business had revenue of $15.68 million for the quarter, compared to analyst estimates of $11.49 million. TriplePoint Venture Growth BDC Corp had a return on equity of 13.05% and a net margin of 56.60%. Equities analysts forecast that TriplePoint Venture Growth BDC Corp will post $1.69 EPS for the current fiscal year.

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The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Thursday, August 31st will be paid a $0.36 dividend. The ex-dividend date of this dividend is Tuesday, August 29th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 10.53%. TriplePoint Venture Growth BDC Corp’s payout ratio is presently 76.19%.

In other TriplePoint Venture Growth BDC Corp news, President Sajal Srivastava acquired 8,000 shares of the company’s stock in a transaction dated Wednesday, May 31st. The shares were acquired at an average cost of $13.10 per share, for a total transaction of $104,800.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.31% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in TPVG. Bank of Montreal Can purchased a new stake in TriplePoint Venture Growth BDC Corp during the second quarter worth $2,542,000. PVG Asset Management Corp purchased a new stake in TriplePoint Venture Growth BDC Corp during the first quarter worth $1,715,000. UBS Group AG increased its stake in TriplePoint Venture Growth BDC Corp by 11.4% in the first quarter. UBS Group AG now owns 485,854 shares of the investment management company’s stock worth $6,772,000 after buying an additional 49,816 shares during the period. Wells Fargo & Company MN increased its stake in TriplePoint Venture Growth BDC Corp by 12.9% in the first quarter. Wells Fargo & Company MN now owns 388,439 shares of the investment management company’s stock worth $5,415,000 after buying an additional 44,399 shares during the period. Finally, Marshall Wace North America L.P. purchased a new stake in TriplePoint Venture Growth BDC Corp during the second quarter worth $565,000. 42.80% of the stock is currently owned by institutional investors and hedge funds.

About TriplePoint Venture Growth BDC Corp

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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