TriplePoint Venture Growth BDC (NYSE:TPVG) Releases Earnings Results, Misses Expectations By $0.03 EPS

TriplePoint Venture Growth BDC (NYSE:TPVG) issued its earnings results on Wednesday. The investment management company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.03), Yahoo Finance reports. The firm had revenue of $29.27 million during the quarter, compared to analyst estimates of $31.25 million. TriplePoint Venture Growth BDC had a negative net margin of 29.68% and a positive return on equity of 19.64%. During the same quarter last year, the business posted $0.53 earnings per share.

TriplePoint Venture Growth BDC Stock Down 1.2 %

Shares of TPVG traded down $0.11 during mid-day trading on Friday, hitting $9.20. 528,967 shares of the company’s stock were exchanged, compared to its average volume of 252,944. TriplePoint Venture Growth BDC has a 52 week low of $8.88 and a 52 week high of $12.70. The stock’s 50-day simple moving average is $9.56 and its 200-day simple moving average is $10.25. The firm has a market cap of $348.22 million, a price-to-earnings ratio of -8.29 and a beta of 1.75.

TriplePoint Venture Growth BDC Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 17.39%. The ex-dividend date of this dividend is Friday, June 14th. TriplePoint Venture Growth BDC’s dividend payout ratio is currently -144.14%.

Analyst Ratings Changes

A number of research firms recently weighed in on TPVG. Compass Point raised TriplePoint Venture Growth BDC from a “sell” rating to a “neutral” rating and set a $8.75 target price on the stock in a report on Friday, March 22nd. Piper Sandler dropped their price objective on shares of TriplePoint Venture Growth BDC from $11.00 to $10.00 and set a “neutral” rating on the stock in a research report on Thursday, March 7th. Keefe, Bruyette & Woods reduced their target price on shares of TriplePoint Venture Growth BDC from $9.50 to $9.00 and set an “underperform” rating for the company in a report on Thursday, March 7th. StockNews.com cut shares of TriplePoint Venture Growth BDC from a “hold” rating to a “sell” rating in a report on Thursday, March 7th. Finally, JMP Securities restated a “market perform” rating on shares of TriplePoint Venture Growth BDC in a report on Thursday, March 7th. Two investment analysts have rated the stock with a sell rating and four have given a hold rating to the stock. Based on data from MarketBeat, TriplePoint Venture Growth BDC presently has an average rating of “Hold” and an average target price of $10.38.

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.