TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) Given Consensus Rating of “Reduce” by Brokerages

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) has earned a consensus recommendation of “Reduce” from the seven research firms that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating and six have given a hold rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $6.25.

TPVG has been the subject of a number of recent research reports. Wall Street Zen upgraded TriplePoint Venture Growth BDC from a “sell” rating to a “hold” rating in a research note on Saturday, December 6th. Weiss Ratings upgraded shares of TriplePoint Venture Growth BDC from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, January 12th. UBS Group reduced their price objective on shares of TriplePoint Venture Growth BDC from $6.50 to $5.50 and set a “neutral” rating for the company in a research note on Tuesday, October 14th. Piper Sandler lowered their target price on shares of TriplePoint Venture Growth BDC from $7.00 to $6.00 and set a “neutral” rating on the stock in a research note on Thursday, October 9th. Finally, Zacks Research raised TriplePoint Venture Growth BDC from a “strong sell” rating to a “hold” rating in a report on Monday, December 8th.

Insider Buying and Selling

In related news, CEO James Labe acquired 50,000 shares of the business’s stock in a transaction on Wednesday, November 12th. The stock was acquired at an average cost of $5.95 per share, with a total value of $297,500.00. Following the acquisition, the chief executive officer directly owned 717,352 shares in the company, valued at $4,268,244.40. This represents a 7.49% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Sajal Srivastava bought 50,000 shares of the stock in a transaction dated Wednesday, November 19th. The stock was bought at an average cost of $6.19 per share, for a total transaction of $309,500.00. Following the acquisition, the insider directly owned 886,139 shares of the company’s stock, valued at approximately $5,485,200.41. This represents a 5.98% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders purchased 2,316,934 shares of company stock worth $14,747,460. 1.46% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Jane Street Group LLC increased its stake in TriplePoint Venture Growth BDC by 28.1% in the 1st quarter. Jane Street Group LLC now owns 67,693 shares of the investment management company’s stock worth $472,000 after acquiring an additional 14,865 shares during the last quarter. U.S. Capital Wealth Advisors LLC raised its stake in TriplePoint Venture Growth BDC by 23.2% during the second quarter. U.S. Capital Wealth Advisors LLC now owns 40,380 shares of the investment management company’s stock valued at $283,000 after purchasing an additional 7,600 shares in the last quarter. Norden Group LLC lifted its position in TriplePoint Venture Growth BDC by 36.4% during the second quarter. Norden Group LLC now owns 56,848 shares of the investment management company’s stock valued at $399,000 after purchasing an additional 15,160 shares during the last quarter. Kovack Advisors Inc. lifted its position in TriplePoint Venture Growth BDC by 10.5% during the second quarter. Kovack Advisors Inc. now owns 50,319 shares of the investment management company’s stock valued at $353,000 after purchasing an additional 4,800 shares during the last quarter. Finally, Ethos Financial Group LLC increased its holdings in shares of TriplePoint Venture Growth BDC by 84.9% in the 2nd quarter. Ethos Financial Group LLC now owns 46,627 shares of the investment management company’s stock worth $327,000 after buying an additional 21,411 shares during the last quarter. Hedge funds and other institutional investors own 12.77% of the company’s stock.

TriplePoint Venture Growth BDC Price Performance

Shares of TriplePoint Venture Growth BDC stock opened at $6.43 on Friday. The stock has a market capitalization of $259.57 million, a PE ratio of 7.56 and a beta of 1.35. TriplePoint Venture Growth BDC has a 1-year low of $5.24 and a 1-year high of $8.20. The company’s fifty day simple moving average is $6.45 and its 200-day simple moving average is $6.33.

TriplePoint Venture Growth BDC (NYSE:TPVG) last released its earnings results on Wednesday, November 5th. The investment management company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.03). TriplePoint Venture Growth BDC had a net margin of 36.02% and a return on equity of 12.88%. The company had revenue of $22.66 million for the quarter, compared to analysts’ expectations of $24.22 million. As a group, research analysts anticipate that TriplePoint Venture Growth BDC will post 1.4 EPS for the current year.

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.