TriplePoint Venture Growth BDC (NYSE:TPVG) Raised to Buy at Compass Point

TriplePoint Venture Growth BDC (NYSE:TPVG) was upgraded by stock analysts at Compass Point from a “neutral” rating to a “buy” rating in a research note issued to investors on Tuesday, November 28th, MarketBeat reports.

TPVG has been the topic of a number of other reports. Zacks Investment Research downgraded shares of TriplePoint Venture Growth BDC from a “hold” rating to a “sell” rating in a research note on Thursday, November 9th. ValuEngine downgraded shares of TriplePoint Venture Growth BDC from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 16th.

Shares of TriplePoint Venture Growth BDC (NYSE TPVG) opened at $13.21 on Tuesday. The stock has a market cap of $237.33, a P/E ratio of 8.27, a price-to-earnings-growth ratio of 0.82 and a beta of 1.31. TriplePoint Venture Growth BDC has a 52 week low of $11.66 and a 52 week high of $14.41.

TriplePoint Venture Growth BDC (NYSE:TPVG) last announced its earnings results on Monday, November 6th. The investment management company reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.01). The firm had revenue of $10.42 million during the quarter, compared to analysts’ expectations of $11.22 million. TriplePoint Venture Growth BDC had a net margin of 43.72% and a return on equity of 12.05%. analysts expect that TriplePoint Venture Growth BDC will post 1.64 EPS for the current fiscal year.

In other TriplePoint Venture Growth BDC news, CEO James Labe bought 22,156 shares of the company’s stock in a transaction on Wednesday, October 25th. The shares were bought at an average cost of $13.65 per share, with a total value of $302,429.40. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Sajal Srivastava acquired 44,313 shares of the company’s stock in a transaction that occurred on Wednesday, October 25th. The stock was purchased at an average cost of $13.65 per share, for a total transaction of $604,872.45. The disclosure for this purchase can be found here. Insiders have acquired 73,855 shares of company stock worth $1,008,121 over the last three months. 1.31% of the stock is owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in TPVG. Bank of Montreal Can acquired a new stake in shares of TriplePoint Venture Growth BDC in the 2nd quarter worth about $2,542,000. Delphi Management Inc. MA increased its stake in TriplePoint Venture Growth BDC by 48.9% during the 2nd quarter. Delphi Management Inc. MA now owns 170,918 shares of the investment management company’s stock valued at $2,275,000 after buying an additional 56,121 shares during the period. Marshall Wace North America L.P. acquired a new position in TriplePoint Venture Growth BDC during the 2nd quarter valued at about $565,000. Essex Investment Management Co. LLC increased its stake in TriplePoint Venture Growth BDC by 116.2% during the 2nd quarter. Essex Investment Management Co. LLC now owns 76,328 shares of the investment management company’s stock valued at $1,016,000 after buying an additional 41,028 shares during the period. Finally, Wells Fargo & Company MN increased its stake in TriplePoint Venture Growth BDC by 9.1% during the 3rd quarter. Wells Fargo & Company MN now owns 428,472 shares of the investment management company’s stock valued at $5,742,000 after buying an additional 35,912 shares during the period. 33.79% of the stock is currently owned by institutional investors and hedge funds.

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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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