Profile
Sector:
Financial ServicesIndustry:
Asset ManagementCountry:
United StatesIPO:
06 March 2014Website:
http://www.tpvg.comNext earnings report:
06 March 2025Last dividends:
16 September 2024Next dividends:
13 December 2024Price
regular market | 10 min agoAnalysts recommendations
Institutional Ownership
TPVG Latest News
I initially issued a sell rating on TriplePoint Venture Growth due to weak net investment income and questionable distribution coverage, but recent Q3 earnings show improvement. TPVG's portfolio strategy focuses on lending to venture capital-backed companies, with a diverse debt portfolio, but remains vulnerable to interest rates. The current dividend yield of 17.6% is attractive for income investors but comes with additional risks compared to peer BDCs.
TriplePoint Venture Growth offers a high dividend yield but has a risky portfolio and poor net asset value performance, making it a less attractive investment. TriplePoint focuses on tech and venture growth stage companies, which increases potential returns but also elevates risks, especially in a high-interest-rate environment. The company's net asset value has declined consistently, and its high non-accruals and writedowns suggest ongoing financial issues within its portfolio.
TriplePoint Venture Growth has faced headwinds, cutting its dividend by 25% and underperforming peers in the BDC sector the past two years. TPVG's latest earnings showed missed estimates, declining portfolio value, but also some positive signs such as new commitments and reduced leverage. While TPVG's dividend is currently covered, risks of an additional cut remain due to declining portfolio value and potential economic downturns.
TriplePoint Venture Growth BDC stock price plummeted 7% to a new 52-week low after worse-than-expected Q2 results. TPVG realigned its dividend with lower net investment income, resulting in a 25% cut to $0.30 per share per quarter. Ongoing investment losses led to a QoQ drop in net asset value, causing TriplePoint stock to sell at an 18% discount.
TriplePoint Venture Growth stock dropped after its Q2 2024 results. TriplePoint Venture's distribution cut was to blame. With its equity issuance window closed, TPVG has a whole host of challenges to overcome, and the new distribution looks unsustainable.
TriplePoint Venture Growth (TPVG) operates as a BDC focusing on venture capital backed companies with a high dividend yield of 14.7%. TriplePoint Venture continues to underperform other peer BDCs, with non-accrual rates increasing and distribution being cut by 25% as of the latest Q2 earnings. Despite trading at a discount to NAV, TPVG's poor performance in NII and portfolio value decline warrant a sell rating.
TriplePoint Venture Growth (TPVG) witnessed a jump in share price last session on above-average trading volume. The latest trend in earnings estimate revisions for the stock doesn't suggest further strength down the road.
Black sheeps are misunderstood vs. the rest of the herd. So is TriplePoint in the sea of BDCs. We take a deeper and closer look at their fundamental health. If you just use one measure for an entire sector, you miss countless opportunities.
We gave TPVG a Sell rating the last time around and came out ahead by not taking capital losses. TPVG has trailed BIZD by 18% since then. We review the Q1-2024 results and tell you why the dividend cut probability has gone up.
TriplePoint Venture Growth (NYSE:TPVG) will be holding their Q1 2024 Earnings Conference Call on May 1, 2024 at 5:00 PM ET. The call will feature James Labe, Sajal Srivastava, and Christopher Mathieu from the company. Various analysts from Wells Fargo, Piper Sandler, UBS, KBW, and Ladenburg Thalmann will also be participating in the call. Good afternoon, and welcome to the TriplePoint Venture Growth BDC Corp. First Quarter 2024 Earnings Conference Call.
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What type of business is 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. The fund seeks to invest in e-commerce, entertainment, technology and life sciences sector. Within technology the areas of focus include: Security, wireless communication equipments, network system and software, business applications software, conferencing equipments/services .big data, cloud computing, data storage, electronics, energy efficiency, hardware, information services, internet and media, networking, semiconductors, software, software as a service, and other technology related subsectors and within life sciences the areas of focus include: biotechnology, bio fuels/bio mass, diagnostic testing and bioinformatics, drug delivery, drug discovery, healthcare information systems, healthcare services, medical, surgical and therapeutic devices, pharmaceuticals and other life science related subsectors. Within growth capital loans it invests between $5 million and $50 million, for equipment financings it invests between $5 million and $25 million, for revolving loans it invests between $1 million and $25 million, and for direct equity investments it may invest between $0.1 million and $5 million (generally not exceeding 5% of the company's total equity). The debt financing products are typically structured as lines of credit and it invests through warrants and secured loans. It targeted returns between 10% and 18%. It does not take board seat in the company.
What sector is TriplePoint Venture Growth BDC in?
TriplePoint Venture Growth BDC is in the Financial Services sector
What industry is TriplePoint Venture Growth BDC in?
TriplePoint Venture Growth BDC is in the Asset Management industry
What country is TriplePoint Venture Growth BDC from?
TriplePoint Venture Growth BDC is headquartered in United States
When did TriplePoint Venture Growth BDC go public?
TriplePoint Venture Growth BDC initial public offering (IPO) was on 06 March 2014
What is TriplePoint Venture Growth BDC website?
https://www.tpvg.com
Is TriplePoint Venture Growth BDC in the S&P 500?
No, TriplePoint Venture Growth BDC is not included in the S&P 500 index
Is TriplePoint Venture Growth BDC in the NASDAQ 100?
No, TriplePoint Venture Growth BDC is not included in the NASDAQ 100 index
Is TriplePoint Venture Growth BDC in the Dow Jones?
No, TriplePoint Venture Growth BDC is not included in the Dow Jones index
When was TriplePoint Venture Growth BDC the previous earnings report?
No data
When does TriplePoint Venture Growth BDC earnings report?
The next expected earnings date for TriplePoint Venture Growth BDC is 06 March 2025