TriplePoint Venture Growth BDC (NYSE:TPVG) Raised to Market Perform at Keefe, Bruyette & Woods

TriplePoint Venture Growth BDC (NYSE:TPVG) was upgraded by Keefe, Bruyette & Woods from an “underperform” rating to a “market perform” rating in a research report issued on Thursday, Marketbeat.com reports. The brokerage presently has a $7.50 price objective on the investment management company’s stock, down from their prior price objective of $8.00. Keefe, Bruyette & Woods’ target price would suggest a potential downside of 4.76% from the stock’s previous close.

Other equities analysts have also issued reports about the stock. Piper Sandler cut their price objective on shares of TriplePoint Venture Growth BDC from $9.50 to $8.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. LADENBURG THALM/SH SH cut shares of TriplePoint Venture Growth BDC from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $8.50 to $8.00 in a report on Friday, August 9th. Finally, Wells Fargo & Company dropped their price objective on TriplePoint Venture Growth BDC from $8.00 to $6.50 and set an “underweight” rating for the company in a research note on Tuesday, October 29th. Two research analysts have rated the stock with a sell rating and five have given a hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $7.65.

TriplePoint Venture Growth BDC Trading Up 4.4 %

TriplePoint Venture Growth BDC stock opened at $7.88 on Thursday. The firm has a market capitalization of $314.63 million, a price-to-earnings ratio of 37.50 and a beta of 1.80. The firm has a 50 day simple moving average of $7.00 and a 200 day simple moving average of $8.05. TriplePoint Venture Growth BDC has a 1-year low of $6.44 and a 1-year high of $11.58.

TriplePoint Venture Growth BDC (NYSE:TPVG) last released its quarterly earnings data on Wednesday, August 7th. The investment management company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.10). The company had revenue of $27.11 million for the quarter, compared to the consensus estimate of $28.77 million. TriplePoint Venture Growth BDC had a net margin of 9.01% and a return on equity of 17.07%. During the same quarter in the previous year, the firm posted $0.53 earnings per share. On average, equities research analysts forecast that TriplePoint Venture Growth BDC will post 1.4 EPS for the current year.

Insider Buying and Selling at TriplePoint Venture Growth BDC

In other news, President Sajal Srivastava acquired 11,298 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was purchased at an average cost of $7.02 per share, for a total transaction of $79,311.96. Following the acquisition, the president now owns 250,858 shares of the company’s stock, valued at $1,761,023.16. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.01% of the company’s stock.

Institutional Investors Weigh In On TriplePoint Venture Growth BDC

Hedge funds have recently made changes to their positions in the business. Norden Group LLC grew its holdings in shares of TriplePoint Venture Growth BDC by 20.0% during the 1st quarter. Norden Group LLC now owns 17,860 shares of the investment management company’s stock valued at $169,000 after purchasing an additional 2,972 shares during the last quarter. Paloma Partners Management Co purchased a new stake in TriplePoint Venture Growth BDC during the first quarter valued at about $184,000. B. Riley Wealth Advisors Inc. grew its stake in shares of TriplePoint Venture Growth BDC by 10.2% during the first quarter. B. Riley Wealth Advisors Inc. now owns 48,852 shares of the investment management company’s stock valued at $511,000 after buying an additional 4,512 shares during the last quarter. U.S. Capital Wealth Advisors LLC increased its holdings in shares of TriplePoint Venture Growth BDC by 19.4% in the second quarter. U.S. Capital Wealth Advisors LLC now owns 19,064 shares of the investment management company’s stock worth $153,000 after buying an additional 3,100 shares during the period. Finally, Commonwealth Equity Services LLC lifted its stake in shares of TriplePoint Venture Growth BDC by 4.5% in the 2nd quarter. Commonwealth Equity Services LLC now owns 31,132 shares of the investment management company’s stock valued at $250,000 after acquiring an additional 1,346 shares during the last quarter. 12.77% of the stock is currently owned by institutional investors.

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.