Zacks: TriplePoint Venture Growth BDC Corp (TPVG) Given Average Recommendation of “Buy” by Analysts

Shares of TriplePoint Venture Growth BDC Corp (NYSE:TPVG) have earned an average broker rating score of 1.67 (Buy) from the three analysts that cover the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold recommendation and two have issued a strong buy recommendation on the company. TriplePoint Venture Growth BDC’s rating score has improved by 28.3% in the last three months as a result of a number of analysts’ upgrades and downgrades.

Brokers have set a 1-year consensus target price of $13.75 for the company and are expecting that the company will post $0.32 EPS for the current quarter, according to Zacks. Zacks has also assigned TriplePoint Venture Growth BDC an industry rank of 226 out of 265 based on the ratings given to related companies.

A number of research analysts recently issued reports on the stock. Ladenburg Thalmann Financial Services assumed coverage on shares of TriplePoint Venture Growth BDC in a report on Tuesday, December 12th. They set a “neutral” rating for the company. Zacks Investment Research cut shares of TriplePoint Venture Growth BDC from a “hold” rating to a “sell” rating in a report on Thursday, November 9th. ValuEngine cut shares of TriplePoint Venture Growth BDC from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 16th. Finally, Compass Point upgraded shares of TriplePoint Venture Growth BDC from a “neutral” rating to a “buy” rating in a report on Tuesday, November 28th.

In related news, CFO Andrew Olson purchased 7,386 shares of TriplePoint Venture Growth BDC stock in a transaction dated Wednesday, October 25th. The stock was bought at an average price of $13.65 per share, for a total transaction of $100,818.90. Following the completion of the acquisition, the chief financial officer now directly owns 7,386 shares of the company’s stock, valued at $100,818.90. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO James Labe purchased 22,156 shares of TriplePoint Venture Growth BDC stock in a transaction dated Wednesday, October 25th. The stock was bought 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. Insiders bought 73,855 shares of company stock valued at $1,008,121 in the last quarter. Corporate insiders own 1.31% of the company’s stock.

Several hedge funds have recently made changes to their positions in TPVG. Delphi Management Inc. MA lifted its position in shares of TriplePoint Venture Growth BDC by 48.9% in the second quarter. Delphi Management Inc. MA now owns 170,918 shares of the investment management company’s stock worth $2,275,000 after purchasing an additional 56,121 shares in the last quarter. Wells Fargo & Company MN lifted its position in shares of 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 purchasing an additional 35,912 shares in the last quarter. Shelton Capital Management lifted its position in shares of 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 purchasing an additional 31,000 shares in the last quarter. Susquehanna International Group LLP raised its position in TriplePoint Venture Growth BDC by 206.2% during the second quarter. Susquehanna International Group LLP now owns 15,717 shares of the investment management company’s stock worth $209,000 after acquiring an additional 30,510 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new stake in TriplePoint Venture Growth BDC during the second quarter worth $381,000. 33.77% of the stock is currently owned by institutional investors and hedge funds.

Shares of TriplePoint Venture Growth BDC (NYSE:TPVG) traded down $0.06 during trading hours on Friday, hitting $13.02. 35,310 shares of the stock traded hands, compared to its average volume of 56,858. TriplePoint Venture Growth BDC has a 12 month low of $12.37 and a 12 month high of $14.41. The firm has a market cap of $231.66, a PE ratio of 9.28, a price-to-earnings-growth ratio of 0.91 and a beta of 1.36.

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

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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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