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

Zacks Investment Research upgraded shares of Triplepoint Venture Growth BDC (NYSE:TPVG) from a hold rating to a buy rating in a report released on Saturday. They currently have $14.00 price objective on the investment management company’s stock.

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. “

Several other research firms have also recently commented on TPVG. ValuEngine cut shares of Triplepoint Venture Growth BDC from a hold rating to a sell rating in a research note on Tuesday, October 23rd. Compass Point set a $14.00 target price on shares of Triplepoint Venture Growth BDC and gave the company a buy rating in a research note on Monday, August 13th. Keefe, Bruyette & Woods set a $14.00 target price on shares of Triplepoint Venture Growth BDC and gave the company a hold rating in a research note on Wednesday, August 1st. Finally, Wells Fargo & Co assumed coverage on shares of Triplepoint Venture Growth BDC in a research note on Thursday, September 20th. They set an outperform rating and a $14.25 target price for the company. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus target price of $14.06.

Shares of Triplepoint Venture Growth BDC stock opened at $12.55 on Friday. Triplepoint Venture Growth BDC has a 1-year low of $11.11 and a 1-year high of $14.15. The firm has a market capitalization of $223.74 million, a PE ratio of 7.80, a PEG ratio of 2.54 and a beta of 1.20.

Triplepoint Venture Growth BDC (NYSE:TPVG) last issued its quarterly earnings data on Wednesday, October 31st. The investment management company reported $0.46 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.04. Triplepoint Venture Growth BDC had a net margin of 53.66% and a return on equity of 11.43%. The business had revenue of $17.68 million during the quarter, compared to analysts’ expectations of $15.47 million. Research analysts anticipate that Triplepoint Venture Growth BDC will post 1.65 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Friday, November 30th will be paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 11.47%. The ex-dividend date of this dividend is Thursday, November 29th. Triplepoint Venture Growth BDC’s payout ratio is currently 89.44%.

A number of large investors have recently added to or reduced their stakes in TPVG. Bank of Montreal Can raised its stake in shares of Triplepoint Venture Growth BDC by 5.5% in the 3rd quarter. Bank of Montreal Can now owns 229,800 shares of the investment management company’s stock valued at $3,123,000 after buying an additional 12,000 shares in the last quarter. Essex Investment Management Co. LLC raised its stake in shares of Triplepoint Venture Growth BDC by 22.4% in the 2nd quarter. Essex Investment Management Co. LLC now owns 91,578 shares of the investment management company’s stock valued at $1,138,000 after buying an additional 16,750 shares in the last quarter. WESPAC Advisors LLC acquired a new position in shares of Triplepoint Venture Growth BDC in the 3rd quarter valued at $1,119,000. JPMorgan Chase & Co. raised its stake in shares of Triplepoint Venture Growth BDC by 66.4% in the 1st quarter. JPMorgan Chase & Co. now owns 47,100 shares of the investment management company’s stock valued at $563,000 after buying an additional 18,798 shares in the last quarter. Finally, West Family Investments Inc. acquired a new position in shares of Triplepoint Venture Growth BDC in the 2nd quarter valued at $581,000. Hedge funds and other institutional investors own 38.17% of the company’s stock.

Triplepoint Venture Growth BDC Company Profile

TriplePoint Venture Growth BDC Corp is a business development company specializing investments in growth stage. It also provides debt financing to venture growth space companies which includes growth capital loans, equipment financings, revolving loans, and direct equity investments. The fund seeks to invest in e-commerce, entertainment, technology and life sciences sector.

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