TriplePoint Venture Growth BDC (NYSE:TPVG) Stock Rating Lowered by Zacks Research

TriplePoint Venture Growth BDC (NYSE:TPVG) was downgraded by stock analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report released on Thursday,Zacks.com reports.

A number of other equities research analysts also recently commented on TPVG. Wells Fargo & Company cut their price objective on TriplePoint Venture Growth BDC from $5.50 to $5.00 and set an “underweight” rating for the company in a research report on Thursday, March 5th. Keefe, Bruyette & Woods cut their price objective on TriplePoint Venture Growth BDC from $7.00 to $6.50 and set a “market perform” rating for the company in a research report on Thursday, March 5th. Piper Sandler cut their target price on shares of TriplePoint Venture Growth BDC from $6.00 to $5.50 and set a “neutral” rating on the stock in a research note on Tuesday, April 7th. Finally, Weiss Ratings downgraded shares of TriplePoint Venture Growth BDC from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, March 12th. Three investment analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, TriplePoint Venture Growth BDC has a consensus rating of “Reduce” and an average price target of $5.63.

TriplePoint Venture Growth BDC Stock Performance

Shares of NYSE:TPVG opened at $5.65 on Thursday. TriplePoint Venture Growth BDC has a one year low of $4.48 and a one year high of $7.53. The stock has a fifty day moving average of $5.25 and a 200-day moving average of $5.81. The company has a market capitalization of $228.57 million, a PE ratio of 4.59 and a beta of 1.32.

TriplePoint Venture Growth BDC (NYSE:TPVG) last announced its quarterly earnings data on Wednesday, March 4th. The investment management company reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01). TriplePoint Venture Growth BDC had a net margin of 54.12% and a return on equity of 12.04%. The company had revenue of $3.42 million for the quarter, compared to analyst estimates of $23.78 million. As a group, research analysts forecast that TriplePoint Venture Growth BDC will post 1.4 EPS for the current fiscal year.

Institutional Trading of TriplePoint Venture Growth BDC

Large investors have recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. acquired a new stake in TriplePoint Venture Growth BDC during the 2nd quarter valued at $35,000. Advisory Services Network LLC acquired a new stake in TriplePoint Venture Growth BDC during the 3rd quarter valued at $33,000. Rockefeller Capital Management L.P. raised its stake in TriplePoint Venture Growth BDC by 75.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 7,000 shares of the investment management company’s stock valued at $46,000 after purchasing an additional 3,000 shares during the period. Farmers & Merchants Investments Inc. raised its stake in TriplePoint Venture Growth BDC by 221.7% during the 4th quarter. Farmers & Merchants Investments Inc. now owns 10,293 shares of the investment management company’s stock valued at $67,000 after purchasing an additional 7,093 shares during the period. Finally, AXQ Capital LP acquired a new position in shares of TriplePoint Venture Growth BDC in the fourth quarter worth $72,000. 12.77% of the stock is owned by institutional investors and hedge funds.

TriplePoint Venture Growth BDC Company Profile

TriplePoint Venture Growth BDC Inc is a closed-end management investment company externally managed by TriplePoint Capital LLC. The firm specializes in providing customized debt and equity financing to growth-stage, venture capital– and private equity–backed companies. Its financing solutions include senior secured loans, unitranche facilities, subordinated debt and selective equity co-investments tailored to support expansion, working capital needs and strategic initiatives.

Launched in September 2018 and listed on the New York Stock Exchange under the symbol TPVG, TriplePoint Venture Growth BDC leverages the deep industry expertise and established underwriting capabilities of TriplePoint Capital, a venture lender since 2003.