TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) Given Average Recommendation of “Hold” by Brokerages

Shares of TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) have been given a consensus recommendation of “Hold” by the six research firms that are currently covering the stock, Marketbeat.com reports. Six research analysts have rated the stock with a hold rating. The average 1-year price target among brokerages that have covered the stock in the last year is $7.70.

Several research analysts recently commented on the stock. StockNews.com upgraded shares of TriplePoint Venture Growth BDC from a “sell” rating to a “hold” rating in a report on Friday, November 15th. Keefe, Bruyette & Woods upgraded shares of TriplePoint Venture Growth BDC from an “underperform” rating to a “market perform” rating and cut their price target for the company from $8.00 to $7.50 in a report on Thursday, November 7th. Piper Sandler cut their price target on shares of TriplePoint Venture Growth BDC from $8.00 to $7.50 and set a “neutral” rating on the stock in a report on Thursday, November 7th. Compass Point raised their price target on shares of TriplePoint Venture Growth BDC from $7.50 to $8.00 and gave the company a “neutral” rating in a report on Thursday, December 5th. Finally, Wells Fargo & Company raised their price target on shares of TriplePoint Venture Growth BDC from $6.50 to $7.50 and gave the company an “equal weight” rating in a report on Tuesday, November 19th.

Institutional Trading of TriplePoint Venture Growth BDC

Several large investors have recently bought and sold shares of TPVG. Millennium Management LLC grew its position in TriplePoint Venture Growth BDC by 169.5% in the second quarter. Millennium Management LLC now owns 432,206 shares of the investment management company’s stock valued at $3,471,000 after acquiring an additional 271,824 shares in the last quarter. International Assets Investment Management LLC grew its position in TriplePoint Venture Growth BDC by 435.6% in the third quarter. International Assets Investment Management LLC now owns 107,630 shares of the investment management company’s stock valued at $760,000 after acquiring an additional 87,535 shares in the last quarter. Diversify Advisory Services LLC grew its position in TriplePoint Venture Growth BDC by 31.2% in the third quarter. Diversify Advisory Services LLC now owns 14,191 shares of the investment management company’s stock valued at $94,000 after acquiring an additional 3,378 shares in the last quarter. Diversify Wealth Management LLC acquired a new stake in shares of TriplePoint Venture Growth BDC during the third quarter worth approximately $82,000. Finally, Aigen Investment Management LP acquired a new stake in shares of TriplePoint Venture Growth BDC during the third quarter worth approximately $138,000. Institutional investors and hedge funds own 12.77% of the company’s stock.

TriplePoint Venture Growth BDC Price Performance

Shares of TPVG stock opened at $7.77 on Friday. The firm has a market cap of $310.99 million, a P/E ratio of 36.98 and a beta of 1.88. TriplePoint Venture Growth BDC has a 1-year low of $6.44 and a 1-year high of $11.17. The firm’s 50-day simple moving average is $7.71 and its 200-day simple moving average is $7.54.

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 business had revenue of $26.52 million for the quarter, compared to analyst estimates of $25.65 million. TriplePoint Venture Growth BDC had a net margin of 9.01% and a return on equity of 16.86%. During the same period in the prior year, the firm posted $0.54 EPS. Analysts expect that TriplePoint Venture Growth BDC will post 1.4 earnings per share for the current fiscal year.

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.