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

Shares of TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) have received an average rating of “Reduce” from the seven research firms that are covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating and five have issued a hold rating on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $6.25.

Several analysts have issued reports on TPVG shares. Weiss Ratings cut shares of TriplePoint Venture Growth BDC from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, January 26th. Piper Sandler lowered their price objective on TriplePoint Venture Growth BDC from $7.00 to $6.00 and set a “neutral” rating on the stock in a research report on Thursday, October 9th. Zacks Research upgraded TriplePoint Venture Growth BDC from a “strong sell” rating to a “hold” rating in a research report on Monday, December 8th. UBS Group decreased their target price on TriplePoint Venture Growth BDC from $6.50 to $5.50 and set a “neutral” rating on the stock in a research note on Tuesday, October 14th. Finally, Wall Street Zen upgraded TriplePoint Venture Growth BDC from a “sell” rating to a “hold” rating in a research report on Saturday, December 6th.

TriplePoint Venture Growth BDC Trading Down 3.0%

TriplePoint Venture Growth BDC stock opened at $5.96 on Friday. The business’s 50 day simple moving average is $6.45 and its 200 day simple moving average is $6.29. TriplePoint Venture Growth BDC has a 12 month low of $5.24 and a 12 month high of $8.20. The company has a market cap of $240.58 million, a price-to-earnings ratio of 7.01 and a beta of 1.35.

TriplePoint Venture Growth BDC (NYSE:TPVG) last posted 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). The business had revenue of $22.66 million during the quarter, compared to analysts’ expectations of $24.22 million. TriplePoint Venture Growth BDC had a return on equity of 12.88% and a net margin of 36.02%. As a group, equities research analysts forecast that TriplePoint Venture Growth BDC will post 1.4 earnings per share for the current fiscal year.

Insider Transactions at TriplePoint Venture Growth BDC

In other news, insider Sajal Srivastava bought 50,000 shares of the business’s stock in a transaction on Wednesday, November 19th. The stock was acquired at an average price of $6.19 per share, with a total value of $309,500.00. Following the completion of the purchase, the insider directly owned 886,139 shares in the company, valued at $5,485,200.41. This represents a 5.98% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO James Labe purchased 50,000 shares of the 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 completion of the purchase, the chief executive officer directly owned 717,352 shares of the company’s stock, valued at $4,268,244.40. The trade was a 7.49% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders bought a total of 2,316,934 shares of company stock valued at $14,747,460 over the last quarter. Company insiders own 1.46% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Nomura Asset Management Co. Ltd. purchased a new position in shares of TriplePoint Venture Growth BDC during the second quarter valued at about $26,000. Advisory Services Network LLC purchased a new position in shares of TriplePoint Venture Growth BDC during the 3rd quarter worth approximately $33,000. Northwestern Mutual Wealth Management Co. bought a new position in shares of TriplePoint Venture Growth BDC in the 2nd quarter worth approximately $35,000. Bluefin Capital Management LLC purchased a new position in shares of TriplePoint Venture Growth BDC in the 2nd quarter valued at approximately $105,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of TriplePoint Venture Growth BDC during the second quarter valued at approximately $131,000. Institutional investors own 12.77% of the company’s stock.

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.