TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) Receives Average Rating of “Reduce” from Brokerages

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) has been assigned an average rating of “Reduce” from the seven research firms that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating and six have issued a hold rating on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $6.25.

A number of brokerages recently issued reports on TPVG. Wall Street Zen raised TriplePoint Venture Growth BDC from a “sell” rating to a “hold” rating in a research report on Saturday, December 6th. Weiss Ratings upgraded TriplePoint Venture Growth BDC from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, February 9th. Finally, Zacks Research raised shares of TriplePoint Venture Growth BDC from a “strong sell” rating to a “hold” rating in a research report on Monday, December 8th.

Insider Transactions at TriplePoint Venture Growth BDC

In related news, CEO James Labe purchased 23,799 shares of TriplePoint Venture Growth BDC stock in a transaction that occurred on Monday, January 12th. The shares were acquired at an average price of $6.66 per share, with a total value of $158,501.34. Following the completion of the transaction, the chief executive officer directly owned 1,998,489 shares of the company’s stock, valued at $13,309,936.74. This represents a 1.21% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Sajal Srivastava purchased 23,799 shares of the company’s stock in a transaction that occurred on Monday, January 12th. The stock was bought at an average cost of $6.66 per share, with a total value of $158,501.34. Following the purchase, the insider owned 1,998,489 shares of the company’s stock, valued at $13,309,936.74. This represents a 1.21% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders bought 1,741,128 shares of company stock valued at $11,259,365. 1.46% of the stock is currently owned by company insiders.

Institutional Trading of TriplePoint Venture Growth BDC

Several institutional investors and hedge funds have recently modified their holdings of TPVG. Kovack Advisors Inc. boosted its stake in TriplePoint Venture Growth BDC by 4.4% in the third quarter. Kovack Advisors Inc. now owns 52,519 shares of the investment management company’s stock valued at $303,000 after buying an additional 2,200 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its holdings in TriplePoint Venture Growth BDC by 4.4% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 53,793 shares of the investment management company’s stock worth $351,000 after purchasing an additional 2,278 shares during the period. U.S. Capital Wealth Advisors LLC increased its position in TriplePoint Venture Growth BDC by 6.4% in the 3rd quarter. U.S. Capital Wealth Advisors LLC now owns 42,980 shares of the investment management company’s stock valued at $248,000 after buying an additional 2,600 shares in the last quarter. Verition Fund Management LLC grew its position in TriplePoint Venture Growth BDC by 14.1% in the 3rd quarter. Verition Fund Management LLC now owns 22,677 shares of the investment management company’s stock valued at $131,000 after purchasing an additional 2,800 shares during the period. Finally, O Shaughnessy Asset Management LLC raised its holdings in shares of TriplePoint Venture Growth BDC by 13.8% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 24,152 shares of the investment management company’s stock worth $158,000 after acquiring an additional 2,921 shares during the last quarter. 12.77% of the stock is currently owned by institutional investors.

TriplePoint Venture Growth BDC Stock Up 1.2%

TriplePoint Venture Growth BDC stock opened at $5.69 on Thursday. The company has a 50 day moving average of $6.24 and a 200-day moving average of $6.17. TriplePoint Venture Growth BDC has a twelve month low of $5.24 and a twelve month high of $8.20. The stock has a market capitalization of $229.67 million, a PE ratio of 6.69 and a beta of 1.36.

About TriplePoint Venture Growth BDC

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.