TriplePoint Venture Growth BDC (NYSE:TPVG) Upgraded by StockNews.com to Hold Rating

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

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

TriplePoint Venture Growth BDC Trading Up 0.1 %

TPVG stock traded up $0.01 during trading on Friday, reaching $7.90. 263,460 shares of the stock were exchanged, compared to its average volume of 360,538. TriplePoint Venture Growth BDC has a twelve month low of $6.44 and a twelve month high of $11.58. The company has a market capitalization of $316.40 million, a P/E ratio of 37.62 and a beta of 1.80. The stock has a 50 day simple moving average of $7.03 and a 200-day simple moving average of $8.01.

TriplePoint Venture Growth BDC (NYSE:TPVG) last announced its quarterly earnings data 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 analyst estimates 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 last year, the firm earned $0.54 EPS. Equities analysts predict that TriplePoint Venture Growth BDC will post 1.4 EPS for the current year.

Institutional Investors Weigh In On TriplePoint Venture Growth BDC

Several hedge funds have recently modified their holdings of TPVG. Y Intercept Hong Kong Ltd acquired a new position in TriplePoint Venture Growth BDC in the third quarter valued at approximately $307,000. XTX Topco Ltd bought a new position in TriplePoint Venture Growth BDC in the third quarter worth approximately $118,000. Jane Street Group LLC grew its stake in TriplePoint Venture Growth BDC by 712.4% in the third quarter. Jane Street Group LLC now owns 104,997 shares of the investment management company’s stock valued at $741,000 after acquiring an additional 92,072 shares during the period. Quadrature Capital Ltd bought a new stake in shares of TriplePoint Venture Growth BDC during the third quarter valued at approximately $99,000. Finally, Paloma Partners Management Co acquired a new position in shares of TriplePoint Venture Growth BDC during the third quarter worth approximately $282,000. 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.