Today, TriplePoint Venture Growth BDC Corp. (TPVG) Lifted to “Hold” at Zacks Investment Research

Today, TriplePoint Venture Growth BDC Corp. (TPVG) Lifted to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) from a sell rating to a hold rating in a research note issued to investors on Wednesday.

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. “

Other equities analysts have also recently issued reports about the company. Compass Point raised TriplePoint Venture Growth BDC Corp. from a neutral rating to a buy rating and set a $12.30 price target for the company in a report on Thursday, September 22nd. Janney Montgomery Scott started coverage on TriplePoint Venture Growth BDC Corp. in a report on Wednesday, June 22nd. They issued a neutral rating and a $13.00 price target for the company. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company has an average rating of Hold and an average target price of $12.85.

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) opened at 11.05 on Wednesday. TriplePoint Venture Growth BDC Corp. has a 1-year low of $8.83 and a 1-year high of $12.65. The company’s 50-day moving average price is $10.95 and its 200 day moving average price is $10.85.

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) last issued its quarterly earnings data on Monday, August 8th. The investment management company reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by $0.04. TriplePoint Venture Growth BDC Corp. had a positive return on equity of 9.91% and a negative net margin of 3.69%. Equities research analysts anticipate that TriplePoint Venture Growth BDC Corp. will post $1.42 earnings per share for the current year.

In related news, insider Sajal Srivastava purchased 7,000 shares of the business’s stock in a transaction dated Friday, September 9th. The stock was bought at an average cost of $11.02 per share, with a total value of $77,140.00. Following the completion of the acquisition, the insider now directly owns 107,643 shares in the company, valued at approximately $1,186,225.86. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.27% of the stock is owned by insiders.

Several large investors have recently made changes to their positions in the stock. GSA Capital Partners LLP increased its stake in shares of TriplePoint Venture Growth BDC Corp. by 16.9% in the second quarter. GSA Capital Partners LLP now owns 13,800 shares of the investment management company’s stock worth $146,000 after buying an additional 2,000 shares in the last quarter. Nuveen Fund Advisors LLC purchased a new stake in TriplePoint Venture Growth BDC Corp. during the second quarter worth about $203,000. Essex Investment Management Co. LLC increased its stake in TriplePoint Venture Growth BDC Corp. by 3.6% in the second quarter. Essex Investment Management Co. LLC now owns 40,873 shares of the investment management company’s stock worth $433,000 after buying an additional 1,434 shares during the period. Buckhead Capital Management LLC increased its stake in TriplePoint Venture Growth BDC Corp. by 17.7% in the second quarter. Buckhead Capital Management LLC now owns 60,400 shares of the investment management company’s stock worth $640,000 after buying an additional 9,100 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in TriplePoint Venture Growth BDC Corp. by 40.4% in the second quarter. JPMorgan Chase & Co. now owns 63,730 shares of the investment management company’s stock worth $675,000 after buying an additional 18,336 shares during the period. 54.41% of the stock is owned by institutional investors and hedge funds.

TriplePoint Venture Growth BDC Corp. 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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