TriplePoint Venture Growth BDC (NYSE:TPVG) Stock Rating Reaffirmed by Keefe, Bruyette & Woods

TriplePoint Venture Growth BDC (NYSE:TPVG)‘s stock had its “underperform” rating reaffirmed by research analysts at Keefe, Bruyette & Woods in a note issued to investors on Tuesday, Benzinga reports. They presently have a $9.00 price objective on the investment management company’s stock. Keefe, Bruyette & Woods’ target price suggests a potential upside of 2.16% from the company’s current price.

Several other analysts have also recently commented on the company. Wells Fargo & Company restated an “underweight” rating and set a $8.50 target price (down previously from $9.50) on shares of TriplePoint Venture Growth BDC in a report on Wednesday, May 29th. Piper Sandler decreased their target price on TriplePoint Venture Growth BDC from $11.00 to $10.00 and set a “neutral” rating on the stock in a report on Thursday, March 7th. JMP Securities reaffirmed a “market perform” rating on shares of TriplePoint Venture Growth BDC in a research note on Thursday, March 7th. Compass Point raised TriplePoint Venture Growth BDC from a “sell” rating to a “neutral” rating and set a $8.75 price target on the stock in a research note on Friday, March 22nd. Finally, StockNews.com lowered TriplePoint Venture Growth BDC from a “hold” rating to a “sell” rating in a research note on Thursday, March 7th. Three investment analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $9.55.

TriplePoint Venture Growth BDC Stock Up 0.7 %

NYSE:TPVG traded up $0.06 during trading hours on Tuesday, reaching $8.81. The company had a trading volume of 178,672 shares, compared to its average volume of 314,141. The stock has a 50-day moving average of $9.30 and a two-hundred day moving average of $10.10. TriplePoint Venture Growth BDC has a one year low of $8.58 and a one year high of $12.70. The firm has a market capitalization of $333.46 million, a PE ratio of -7.94 and a beta of 1.79.

TriplePoint Venture Growth BDC (NYSE:TPVG) last announced its earnings results on Wednesday, May 1st. The investment management company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.03). The business had revenue of $29.27 million for the quarter, compared to the consensus estimate of $31.25 million. TriplePoint Venture Growth BDC had a positive return on equity of 19.64% and a negative net margin of 29.68%. During the same quarter in the previous year, the company posted $0.53 EPS. As a group, sell-side analysts expect that TriplePoint Venture Growth BDC will post 1.58 earnings per share for the current year.

Hedge Funds Weigh In On TriplePoint Venture Growth BDC

Several hedge funds have recently added to or reduced their stakes in TPVG. Samalin Investment Counsel LLC lifted its stake in TriplePoint Venture Growth BDC by 9.3% in the third quarter. Samalin Investment Counsel LLC now owns 40,535 shares of the investment management company’s stock valued at $424,000 after buying an additional 3,446 shares during the period. Dfpg Investments LLC acquired a new position in TriplePoint Venture Growth BDC in the fourth quarter valued at about $116,000. Raymond James & Associates lifted its stake in TriplePoint Venture Growth BDC by 13.7% in the fourth quarter. Raymond James & Associates now owns 32,689 shares of the investment management company’s stock valued at $355,000 after buying an additional 3,928 shares during the period. Farmers & Merchants Investments Inc. lifted its stake in TriplePoint Venture Growth BDC by 94.3% in the fourth quarter. Farmers & Merchants Investments Inc. now owns 4,533 shares of the investment management company’s stock valued at $49,000 after buying an additional 2,200 shares during the period. Finally, International Assets Investment Management LLC increased its holdings in shares of TriplePoint Venture Growth BDC by 1,066.7% in the fourth quarter. International Assets Investment Management LLC now owns 1,265,136 shares of the investment management company’s stock worth $13,739,000 after acquiring an additional 1,156,701 shares in the last quarter. Institutional investors and hedge funds own 12.77% of the company’s stock.

TriplePoint Venture Growth BDC Company Profile

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.