Triplepoint Venture Growth BDC (TPVG) Upgraded to Buy by Zacks Investment Research

Zacks Investment Research upgraded shares of Triplepoint Venture Growth BDC (NYSE:TPVG) from a hold rating to a buy rating in a research report sent to investors on Saturday. The brokerage currently has $14.00 price target on the investment management company’s stock.

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. “

Separately, ValuEngine raised shares of Triplepoint Venture Growth BDC from a sell rating to a hold rating in a research report on Monday, October 29th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of Hold and an average target price of $14.06.

NYSE TPVG opened at $12.89 on Friday. Triplepoint Venture Growth BDC has a 12 month low of $10.25 and a 12 month high of $13.95. The stock has a market capitalization of $317.66 million, a price-to-earnings ratio of 8.01, a P/E/G ratio of 2.64 and a beta of 1.22.

In related news, President Sajal Srivastava bought 7,034 shares of the firm’s stock in a transaction on Thursday, December 20th. The shares were bought at an average price of $10.43 per share, with a total value of $73,364.62. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.84% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of TPVG. Bank of Montreal Can lifted its position in Triplepoint Venture Growth BDC by 5.5% in the third quarter. Bank of Montreal Can now owns 229,800 shares of the investment management company’s stock valued at $3,123,000 after buying an additional 12,000 shares during the last quarter. WESPAC Advisors LLC acquired a new stake in shares of Triplepoint Venture Growth BDC during the third quarter worth about $1,119,000. JPMorgan Chase & Co. lifted its position in shares of Triplepoint Venture Growth BDC by 79.3% during the third quarter. JPMorgan Chase & Co. now owns 81,217 shares of the investment management company’s stock worth $1,104,000 after purchasing an additional 35,925 shares in the last quarter. Alliancebernstein L.P. lifted its position in shares of Triplepoint Venture Growth BDC by 27.7% during the third quarter. Alliancebernstein L.P. now owns 227,550 shares of the investment management company’s stock worth $3,092,000 after purchasing an additional 49,329 shares in the last quarter. Finally, Resource America Inc. acquired a new stake in shares of Triplepoint Venture Growth BDC during the third quarter worth about $843,000. 31.59% of the stock is currently owned by institutional investors.

Triplepoint Venture Growth BDC Company Profile

TriplePoint Venture Growth BDC Corp is a business development company specializing investments in growth stage. It also provides debt financing to venture growth space companies which includes growth capital loans, equipment financings, revolving loans, and direct equity investments. The fund seeks to invest in e-commerce, entertainment, technology and life sciences sector.

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