TriplePoint Venture Growth BDC (NYSE:TPVG) stock rating downgraded by StockNews.com

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TriplePoint Venture Growth BDC (NYSE: TPVG – Get a rating) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a report released on Friday.

Other research analysts have also recently published research reports on the company. Wells Fargo & Company raised its price target on TriplePoint Venture Growth BDC from $17.50 to $18.00 and gave the stock an “overweight” rating in a Monday, April 25 research note. Piper Sandler lowered her price target on TriplePoint Venture Growth BDC shares from $19.00 to $16.00 and rated the stock “overweight” in a Tuesday, June 28 research note. One research analyst has assigned the stock a sell rating, one has assigned a hold rating and three have assigned the stock a buy rating. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $17.19.

TriplePoint Venture Growth BDC trades down 6.8%

NYSE: TPVG traded down $0.99 during Friday’s midday session, hitting $13.48. The company’s stock had a trading volume of 2,622,371 shares, compared to an average volume of 186,283. The stock has a market capitalization of $418.38 million, a P/E ratio of 9.43 and a beta of 1.68. The company’s fifty-day moving average price is $13.49 and its two-hundred-day moving average price is $15.42. TriplePoint Venture Growth BDC has a 12-month low of $11.86 and a 12-month high of $19.25.

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TriplePoint Venture Growth BDC (NYSE: TPVG – Get a rating) last released its quarterly results on Wednesday, August 3. The investment management firm reported earnings per share of $0.41 for the quarter, beating the consensus estimate of $0.37 by $0.04. TriplePoint Venture Growth BDC earned a net margin of 43.80% and a return on equity of 11.35%. In the same quarter a year earlier, the company posted EPS of $0.30. Analysts expect TriplePoint Venture Growth BDC to post earnings per share of 1.59 for the current fiscal year.

Insider trading at TriplePoint Venture Growth BDC

In addition, CFO Christopher M. Mathieu acquired 10,000 shares of the company in a transaction dated Friday, June 17. The shares were acquired at an average cost of $12.16 per share, with a total value of $121,600.00. Following the acquisition, the CFO now directly owns 25,500 shares of the company, valued at $310,080. The transaction was disclosed in an SEC filing, available at this link. Insiders own 1.38% of the shares of the company.

Institutional entries and exits

A number of hedge funds have recently bought and sold shares of TPVG. Lazard Asset Management LLC purchased a new position in shares of TriplePoint Venture Growth BDC during the first quarter, valued at approximately $39,000. Geneos Wealth Management Inc. increased its holdings of TriplePoint Venture Growth BDC shares by 101.6% in the fourth quarter. Geneos Wealth Management Inc. now owns 5,841 shares of the investment management company worth $104,000 after buying 2,943 additional shares in the last quarter. Steward Partners Investment Advisory LLC increased its stake in TriplePoint Venture Growth BDC by 1,451.3% in Q2. Steward Partners Investment Advisory LLC now owns 6,174 shares of the investment management firm worth $79,000 after purchasing an additional 5,776 shares during the period. Summitry LLC acquired a new stake in TriplePoint Venture Growth BDC during Q4 valued at approximately $180,000. Finally, Calton & Associates Inc. acquired a new stake in TriplePoint Venture Growth BDC in Q1 worth approximately $175,000. Institutional investors hold 22.75% of the company’s shares.

About TriplePoint Venture Growth BDC

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

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