TriplePoint Venture Growth BDC (TPVG) Stock Rating Upgraded by Zacks Investment Research

TriplePoint Venture Growth BDC (NYSE:TPVG) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Thursday.

According to Zacks, “TriplePoint Venture Growth BDC Corp. is an externally managed, closed-end, non-diversified management investment company. The Company’s investment objective is to maximize its total return to stockholders primarily in the form of current income and, to a lesser extent, capital appreciation by primarily lending with warrants to venture growth stage companies focused in technology, life sciences and other high growth industries backed by a select group of leading venture capital investors. TriplePoint Venture Growth BDC Corp. is based in United States. “

A number of other research analysts have also weighed in on the company. Ladenburg Thalmann Financial Services assumed coverage on TriplePoint Venture Growth BDC in a research report on Tuesday, December 12th. They set a “neutral” rating for the company. Compass Point upgraded TriplePoint Venture Growth BDC from a “neutral” rating to a “buy” rating in a research report on Tuesday, November 28th. Finally, ValuEngine lowered TriplePoint Venture Growth BDC from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 16th. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $14.00.

TriplePoint Venture Growth BDC (NYSE:TPVG) traded up $0.06 during trading hours on Thursday, reaching $12.92. The company’s stock had a trading volume of 47,100 shares, compared to its average volume of 56,743. The company has a market capitalization of $228.83, a PE ratio of 9.20, a PEG ratio of 0.91 and a beta of 1.36. TriplePoint Venture Growth BDC has a twelve month low of $12.22 and a twelve month high of $14.41.

TriplePoint Venture Growth BDC (NYSE:TPVG) last posted its quarterly earnings results on Monday, November 6th. The investment management company reported $0.27 EPS for the quarter, missing the Zacks’ consensus estimate of $0.28 by ($0.01). The business had revenue of $10.42 million for the quarter, compared to the consensus estimate of $11.22 million. TriplePoint Venture Growth BDC had a net margin of 43.72% and a return on equity of 12.05%. research analysts anticipate that TriplePoint Venture Growth BDC will post 1.64 earnings per share for the current fiscal year.

In other news, President Sajal Srivastava acquired 44,313 shares of the business’s stock in a transaction dated Wednesday, October 25th. The stock was purchased at an average price of $13.65 per share, for a total transaction of $604,872.45. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO James Labe acquired 22,156 shares of the business’s stock in a transaction dated Wednesday, October 25th. The shares were purchased at an average price of $13.65 per share, with a total value of $302,429.40. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 73,855 shares of company stock valued at $1,008,121. Company insiders own 1.31% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN grew its position in TriplePoint Venture Growth BDC by 9.1% in the third quarter. Wells Fargo & Company MN now owns 428,472 shares of the investment management company’s stock worth $5,742,000 after acquiring an additional 35,912 shares in the last quarter. Delphi Management Inc. MA grew its position in TriplePoint Venture Growth BDC by 5.5% in the third quarter. Delphi Management Inc. MA now owns 180,382 shares of the investment management company’s stock worth $2,417,000 after acquiring an additional 9,464 shares in the last quarter. PVG Asset Management Corp grew its position in TriplePoint Venture Growth BDC by 3.7% in the third quarter. PVG Asset Management Corp now owns 107,548 shares of the investment management company’s stock worth $1,679,000 after acquiring an additional 3,880 shares in the last quarter. Royal Bank of Canada grew its position in TriplePoint Venture Growth BDC by 12.0% in the second quarter. Royal Bank of Canada now owns 48,471 shares of the investment management company’s stock worth $645,000 after acquiring an additional 5,195 shares in the last quarter. Finally, Shelton Capital Management grew its position in TriplePoint Venture Growth BDC by 185.6% in the second quarter. Shelton Capital Management now owns 47,703 shares of the investment management company’s stock worth $635,000 after acquiring an additional 31,000 shares in the last quarter. Institutional investors own 33.76% of the company’s stock.

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TriplePoint Venture Growth BDC Company Profile

TriplePoint Venture Growth BDC Corp. is a closed-end, non-diversified management investment company. The Company’s investment objective is to maximize its total return to stockholders primarily in the form of current income and, to a lesser extent, capital appreciation by primarily lending with warrants to venture growth stage companies focused in technology, life sciences and other high growth industries, which are backed by TriplePoint Capital LLC’s (TPC) select group of venture capital investors.

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