Keefe, Bruyette & Woods Upgrades TriplePoint Venture Growth BDC (NYSE:TPVG) to "Market Perform"

Keefe, Bruyette & Woods upgraded shares of TriplePoint Venture Growth BDC (NYSE:TPVG - Free Report) from an underperform rating to a market perform rating in a research report released on Thursday, Marketbeat reports. Keefe, Bruyette & Woods currently has $7.50 price objective on the investment management company's stock, down from their previous price objective of $8.00.

Several other equities research analysts have also weighed in on the company. LADENBURG THALM/SH SH lowered TriplePoint Venture Growth BDC from a "buy" rating to a "neutral" rating and decreased their price objective for the stock from $8.50 to $8.00 in a report on Friday, August 9th. Piper Sandler dropped their price target on shares of TriplePoint Venture Growth BDC from $9.50 to $8.00 and set a "neutral" rating on the stock in a research note on Thursday, August 8th. Finally, Wells Fargo & Company cut their price objective on shares of TriplePoint Venture Growth BDC from $8.00 to $6.50 and set an "underweight" rating for the company in a report on Tuesday, October 29th. Two research analysts have rated the stock with a sell rating and five have issued a hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $7.65.

TriplePoint Venture Growth BDC Stock Performance

TPVG traded up $0.75 during midday trading on Thursday, reaching $7.56. The company had a trading volume of 1,073,288 shares, compared to its average volume of 361,520. TriplePoint Venture Growth BDC has a 12-month low of $6.44 and a 12-month high of $11.58. The business has a 50-day moving average price of $6.99 and a two-hundred day moving average price of $8.07. The stock has a market cap of $301.82 million, a PE ratio of -25.18 and a beta of 1.80.

TriplePoint Venture Growth BDC (NYSE:TPVG - Get Free Report) last announced its quarterly earnings data on Wednesday, August 7th. The investment management company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.10). The firm had revenue of $27.11 million for the quarter, compared to the consensus estimate of $28.77 million. TriplePoint Venture Growth BDC had a negative net margin of 8.03% and a positive return on equity of 18.24%. During the same period last year, the company posted $0.53 earnings per share. On average, research analysts anticipate that TriplePoint Venture Growth BDC will post 1.4 earnings per share for the current year.

Insider Buying and Selling

In other TriplePoint Venture Growth BDC news, President Sajal Srivastava acquired 11,298 shares of the company's stock in a transaction that occurred on Monday, August 12th. The stock was bought at an average price of $7.02 per share, with a total value of $79,311.96. Following the completion of the purchase, the president now owns 250,858 shares of the company's stock, valued at approximately $1,761,023.16. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On TriplePoint Venture Growth BDC

Several hedge funds have recently bought and sold shares of TPVG. Quarry LP bought a new stake in TriplePoint Venture Growth BDC during the second quarter worth about $35,000. EverSource Wealth Advisors LLC bought a new stake in TriplePoint Venture Growth BDC in the 2nd quarter worth approximately $62,000. Diversify Wealth Management LLC bought a new stake in TriplePoint Venture Growth BDC in the 3rd quarter worth approximately $82,000. Diversify Advisory Services LLC boosted its stake in TriplePoint Venture Growth BDC by 31.2% in the third quarter. Diversify Advisory Services LLC now owns 14,191 shares of the investment management company's stock worth $94,000 after buying an additional 3,378 shares in the last quarter. Finally, Aigen Investment Management LP bought a new position in TriplePoint Venture Growth BDC during the third quarter valued at approximately $138,000. 12.77% of the stock is currently owned by institutional investors.

TriplePoint Venture Growth BDC Company Profile

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