Nomura began coverage on shares of Triplepoint Venture Growth BDC (NYSE:TPVG) in a report released on Monday, Benzinga reports. The brokerage issued a buy rating and a $16.00 price target on the investment management company’s stock.
TPVG has been the subject of several other research reports. Zacks Investment Research raised Green Brick Partners from a sell rating to a hold rating in a research note on Thursday, April 25th. Compass Point downgraded Santander Consumer USA from a buy rating to a neutral rating in a research note on Monday, May 6th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. The stock currently has an average rating of Hold and a consensus target price of $14.95.
Shares of Triplepoint Venture Growth BDC stock traded up $0.01 on Monday, hitting $14.51. The stock had a trading volume of 175,886 shares, compared to its average volume of 167,422. The company has a 50 day moving average of $14.06. Triplepoint Venture Growth BDC has a twelve month low of $10.25 and a twelve month high of $14.61. The stock has a market capitalization of $358.16 million, a price-to-earnings ratio of 8.49, a P/E/G ratio of 2.98 and a beta of 1.12.
Triplepoint Venture Growth BDC (NYSE:TPVG) last released its quarterly earnings data on Wednesday, May 1st. The investment management company reported $0.40 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.03. Triplepoint Venture Growth BDC had a return on equity of 12.50% and a net margin of 57.09%. The company had revenue of $17.49 million during the quarter, compared to the consensus estimate of $17.35 million. As a group, research analysts expect that Triplepoint Venture Growth BDC will post 1.61 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 31st were paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 9.92%. The ex-dividend date was Thursday, May 30th. Triplepoint Venture Growth BDC’s dividend payout ratio is currently 84.21%.
A number of large investors have recently added to or reduced their stakes in TPVG. Koshinski Asset Management Inc. acquired a new position in shares of Triplepoint Venture Growth BDC during the 1st quarter worth $330,000. Resource America Inc. boosted its holdings in shares of Triplepoint Venture Growth BDC by 4.1% during the 1st quarter. Resource America Inc. now owns 64,536 shares of the investment management company’s stock worth $888,000 after buying an additional 2,536 shares during the period. Acadian Asset Management LLC bought a new stake in shares of Triplepoint Venture Growth BDC during the 1st quarter worth $1,070,000. Wedbush Securities Inc. boosted its holdings in shares of Triplepoint Venture Growth BDC by 18.9% during the 1st quarter. Wedbush Securities Inc. now owns 13,122 shares of the investment management company’s stock worth $181,000 after buying an additional 2,087 shares during the period. Finally, Deutsche Bank AG boosted its holdings in shares of Triplepoint Venture Growth BDC by 31.8% during the 4th quarter. Deutsche Bank AG now owns 10,675 shares of the investment management company’s stock worth $116,000 after buying an additional 2,575 shares during the period. 31.00% 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 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.
Further Reading: Are sell-side analysts objective?
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