TriplePoint Venture Growth BDC (TPVG) Upgraded to Buy by Zacks Investment Research

TriplePoint Venture Growth BDC (NYSE:TPVG) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Thursday, March 15th. The firm presently has a $14.00 price objective on the investment management company’s stock. Zacks Investment Research‘s price target indicates a potential upside of 17.15% from the company’s current price.

According to Zacks, “TriplePoint Venture Growth BDC Corp. is an externally managed, 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 backed by a select group of leading venture capital investors. TriplePoint Venture Growth BDC Corp. is based in United States. “

How to Become a New Pot Stock Millionaire

TPVG has been the topic of a number of other research reports. Ladenburg Thalmann initiated coverage on TriplePoint Venture Growth BDC in a research report on Tuesday, December 12th. They set a “neutral” rating on the stock. ValuEngine downgraded TriplePoint Venture Growth BDC from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 2nd. Finally, Compass Point raised TriplePoint Venture Growth BDC from a “neutral” rating to a “buy” rating in a research report on Tuesday, November 28th.

TPVG stock traded down $0.11 during trading on Thursday, reaching $11.95. 69,984 shares of the company traded hands, compared to its average volume of 96,219. TriplePoint Venture Growth BDC has a 12 month low of $11.11 and a 12 month high of $14.41. The company has a market cap of $211.65, a P/E ratio of 7.42, a PEG ratio of 0.82 and a beta of 1.20.

TriplePoint Venture Growth BDC (NYSE:TPVG) last issued its quarterly earnings data on Monday, March 12th. The investment management company reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.02). TriplePoint Venture Growth BDC had a net margin of 37.33% and a return on equity of 11.94%. The company had revenue of $11.11 million for the quarter, compared to the consensus estimate of $11.78 million. sell-side analysts predict that TriplePoint Venture Growth BDC will post 1.46 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the business. Macquarie Group Ltd. boosted its holdings in TriplePoint Venture Growth BDC by 203.5% in the fourth quarter. Macquarie Group Ltd. now owns 17,814 shares of the investment management company’s stock worth $226,000 after acquiring an additional 11,944 shares in the last quarter. Texas Yale Capital Corp. acquired a new stake in TriplePoint Venture Growth BDC in the fourth quarter worth about $322,000. Nationwide Fund Advisors boosted its holdings in TriplePoint Venture Growth BDC by 23.4% in the third quarter. Nationwide Fund Advisors now owns 37,892 shares of the investment management company’s stock worth $508,000 after acquiring an additional 7,173 shares in the last quarter. Two Sigma Investments LP boosted its holdings in TriplePoint Venture Growth BDC by 13.2% in the fourth quarter. Two Sigma Investments LP now owns 38,173 shares of the investment management company’s stock worth $484,000 after acquiring an additional 4,449 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd boosted its holdings in TriplePoint Venture Growth BDC by 41.3% in the third quarter. Dynamic Technology Lab Private Ltd now owns 40,384 shares of the investment management company’s stock worth $541,000 after acquiring an additional 11,809 shares in the last quarter. 31.89% of the stock is owned by institutional investors and hedge funds.

ILLEGAL ACTIVITY WARNING: “TriplePoint Venture Growth BDC (TPVG) Upgraded to Buy by Zacks Investment Research” was reported by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are accessing this report on another publication, it was copied illegally and republished in violation of U.S. & international copyright and trademark law. The original version of this report can be read at https://www.dispatchtribunal.com/2018/04/08/zacks-investment-research-upgrades-triplepoint-venture-growth-bdc-tpvg-to-buy.html.

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.

Get a free copy of the Zacks research report on TriplePoint Venture Growth BDC (TPVG)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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.

Leave a Reply