StockNews.com Upgrades TriplePoint Venture Growth BDC (NYSE:TPVG) to “Hold”

TriplePoint Venture Growth BDC (NYSE:TPVG) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Friday.

Several other brokerages have also issued reports on TPVG. LADENBURG THALM/SH SH lowered shares of TriplePoint Venture Growth BDC from a “buy” rating to a “neutral” rating and cut their target price for the company from $8.50 to $8.00 in a research report on Friday, August 9th. Piper Sandler reduced their price objective on TriplePoint Venture Growth BDC from $8.00 to $7.50 and set a “neutral” rating for the company in a research note on Thursday, November 7th. Keefe, Bruyette & Woods raised TriplePoint Venture Growth BDC from an “underperform” rating to a “market perform” rating and decreased their target price for the stock from $8.00 to $7.50 in a report on Thursday, November 7th. Finally, Wells Fargo & Company cut their price target on TriplePoint Venture Growth BDC from $8.00 to $6.50 and set an “underweight” rating for the company in a report on Tuesday, October 29th. One equities research analyst has rated the stock with a sell rating and six have given a hold rating to the stock. According to MarketBeat.com, TriplePoint Venture Growth BDC has an average rating of “Hold” and an average price target of $7.65.

TriplePoint Venture Growth BDC Trading Up 0.1 %

Shares of TPVG stock opened at $7.90 on Friday. The company’s fifty day moving average price is $7.04 and its 200-day moving average price is $8.00. The stock has a market cap of $316.39 million, a PE ratio of 37.62 and a beta of 1.80. TriplePoint Venture Growth BDC has a 12 month low of $6.44 and a 12 month high of $11.58.

TriplePoint Venture Growth BDC (NYSE:TPVG) last posted its quarterly earnings results on Wednesday, November 6th. The investment management company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.01. The company had revenue of $26.52 million for the quarter, compared to the consensus estimate of $25.65 million. TriplePoint Venture Growth BDC had a return on equity of 16.86% and a net margin of 9.01%. During the same quarter in the prior year, the business posted $0.54 EPS. On average, sell-side analysts forecast that TriplePoint Venture Growth BDC will post 1.4 earnings per share for the current fiscal year.

Hedge Funds Weigh In On TriplePoint Venture Growth BDC

Large investors have recently modified their holdings of the stock. Quarry LP bought a new stake in TriplePoint Venture Growth BDC in the second quarter worth about $35,000. EverSource Wealth Advisors LLC purchased a new stake in shares of TriplePoint Venture Growth BDC in the second quarter worth approximately $62,000. Diversify Wealth Management LLC bought a new stake in shares of TriplePoint Venture Growth BDC during the 3rd quarter worth approximately $82,000. Dynamic Technology Lab Private Ltd purchased a new position in TriplePoint Venture Growth BDC during the 3rd quarter valued at $83,000. Finally, BNP Paribas Financial Markets grew its position in TriplePoint Venture Growth BDC by 214.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 13,200 shares of the investment management company’s stock valued at $93,000 after acquiring an additional 9,000 shares during the last quarter. Institutional investors own 12.77% of the company’s stock.

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.