TriplePoint Venture Growth BDC (NYSE:TPVG) Price Target Cut to $16.00

TriplePoint Venture Growth BDC (NYSE:TPVGGet Rating) had its price objective lowered by research analysts at Piper Sandler from $19.00 to $16.00 in a research report issued on Tuesday, The Fly reports. The brokerage presently has an “overweight” rating on the investment management company’s stock. Piper Sandler’s price objective points to a potential upside of 26.48% from the stock’s previous close.

A number of other research firms have also recently issued reports on TPVG. StockNews.com assumed coverage on TriplePoint Venture Growth BDC in a research note on Thursday, March 31st. They set a “hold” rating for the company. Wells Fargo & Company increased their target price on TriplePoint Venture Growth BDC from $17.50 to $18.00 and gave the stock an “overweight” rating in a research note on Monday, April 25th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $17.19.

Shares of NYSE:TPVG opened at $12.65 on Tuesday. The company has a market capitalization of $392.62 million, a price-to-earnings ratio of 5.55 and a beta of 1.73. The firm’s 50 day simple moving average is $14.51 and its 200 day simple moving average is $16.16. TriplePoint Venture Growth BDC has a fifty-two week low of $11.86 and a fifty-two week high of $19.25.

TriplePoint Venture Growth BDC (NYSE:TPVGGet Rating) last announced its quarterly earnings results on Wednesday, May 4th. The investment management company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.07. The business had revenue of $25.93 million for the quarter, compared to the consensus estimate of $25.54 million. TriplePoint Venture Growth BDC had a net margin of 75.42% and a return on equity of 10.77%. During the same period last year, the company posted $0.29 EPS. On average, equities analysts anticipate that TriplePoint Venture Growth BDC will post 1.59 earnings per share for the current year.

In other TriplePoint Venture Growth BDC news, CFO Christopher M. Mathieu purchased 10,000 shares of the firm’s stock in a transaction dated Friday, June 17th. The stock was bought at an average cost of $12.16 per share, with a total value of $121,600.00. Following the purchase, the chief financial officer now directly owns 25,500 shares of the company’s stock, valued at $310,080. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 1.38% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of TPVG. Advisors Asset Management Inc. boosted its holdings in shares of TriplePoint Venture Growth BDC by 6.1% in the 4th quarter. Advisors Asset Management Inc. now owns 299,117 shares of the investment management company’s stock valued at $5,372,000 after buying an additional 17,255 shares during the last quarter. Fisher Asset Management LLC acquired a new stake in shares of TriplePoint Venture Growth BDC in the 4th quarter valued at approximately $191,000. Capital Advisory Group Advisory Services LLC boosted its holdings in shares of TriplePoint Venture Growth BDC by 12.3% in the 4th quarter. Capital Advisory Group Advisory Services LLC now owns 36,640 shares of the investment management company’s stock valued at $658,000 after buying an additional 4,011 shares during the last quarter. B. Riley Wealth Management Inc. boosted its holdings in shares of TriplePoint Venture Growth BDC by 1.8% in the 4th quarter. B. Riley Wealth Management Inc. now owns 46,560 shares of the investment management company’s stock valued at $836,000 after buying an additional 805 shares during the last quarter. Finally, Geneos Wealth Management Inc. boosted its holdings in shares of TriplePoint Venture Growth BDC by 101.6% in the 4th quarter. Geneos Wealth Management Inc. now owns 5,841 shares of the investment management company’s stock valued at $104,000 after buying an additional 2,943 shares during the last quarter. 22.75% of the stock is owned by institutional investors.

TriplePoint Venture Growth BDC Company Profile (Get Rating)

TriplePoint Venture Growth BDC Corp. is a business development company specializing investments in venture capital-backed companies at the growth stage investments. It also provides debt financing to venture growth space companies which includes growth capital loans, secured and customized loans, equipment financings, revolving loans and direct equity investments.

Read More

The Fly logo

Receive News & Ratings for TriplePoint Venture Growth BDC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TriplePoint Venture Growth BDC and related companies with MarketBeat.com's FREE daily email newsletter.