Equities research analysts at Keefe, Bruyette & Woods initiated coverage on shares of TriplePoint Venture Growth BDC (NYSE:TPVG) in a report released on Monday, The Fly reports. The firm set a “market perform” rating on the investment management company’s stock.
Other equities research analysts have also issued reports about the company. Zacks Investment Research upgraded TriplePoint Venture Growth BDC from a “hold” rating to a “buy” rating and set a $14.00 price objective on the stock in a research report on Thursday, March 15th. ValuEngine cut TriplePoint Venture Growth BDC from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 2nd. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $14.00.
Shares of TPVG stock traded down $0.10 during trading hours on Monday, reaching $12.21. The company’s stock had a trading volume of 58,142 shares, compared to its average volume of 85,910. The firm has a market cap of $218.02, a P/E ratio of 7.58, a P/E/G ratio of 0.84 and a beta of 1.19. TriplePoint Venture Growth BDC has a one year low of $11.11 and a one year high of $14.41.
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 the Zacks’ consensus estimate of $0.32 by ($0.02). The business had revenue of $11.11 million during the quarter, compared to the consensus estimate of $11.78 million. TriplePoint Venture Growth BDC had a return on equity of 11.94% and a net margin of 37.33%. research analysts forecast that TriplePoint Venture Growth BDC will post 1.46 EPS for the current fiscal year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Macquarie Group Ltd. raised its stake in TriplePoint Venture Growth BDC by 203.5% during the fourth quarter. Macquarie Group Ltd. now owns 17,814 shares of the investment management company’s stock valued at $226,000 after buying an additional 11,944 shares during the last quarter. Texas Yale Capital Corp. purchased a new position in TriplePoint Venture Growth BDC during the fourth quarter valued at $322,000. Nationwide Fund Advisors raised its stake in TriplePoint Venture Growth BDC by 23.4% during the third quarter. Nationwide Fund Advisors now owns 37,892 shares of the investment management company’s stock valued at $508,000 after buying an additional 7,173 shares during the last quarter. Two Sigma Investments LP raised its stake in TriplePoint Venture Growth BDC by 13.2% during the fourth quarter. Two Sigma Investments LP now owns 38,173 shares of the investment management company’s stock valued at $484,000 after buying an additional 4,449 shares during the last quarter. Finally, BlackRock Inc. raised its stake in TriplePoint Venture Growth BDC by 10.0% during the fourth quarter. BlackRock Inc. now owns 104,268 shares of the investment management company’s stock valued at $1,323,000 after buying an additional 9,461 shares during the last quarter. Institutional investors own 31.89% of the company’s stock.
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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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