TriplePoint Venture Growth BDC (NYSE:TPVG) Stock Rating Lowered by LADENBURG THALM/SH SH

TriplePoint Venture Growth BDC (NYSE:TPVG) was downgraded by equities researchers at LADENBURG THALM/SH SH from a “buy” rating to a “neutral” rating in a report released on Friday, MarketBeat reports. They presently have a $8.00 price objective on the investment management company’s stock, down from their previous price objective of $8.50. LADENBURG THALM/SH SH’s target price indicates a potential upside of 10.96% from the company’s current price.

Several other research analysts have also commented on the stock. Keefe, Bruyette & Woods reaffirmed an “underperform” rating and issued a $9.00 price target on shares of TriplePoint Venture Growth BDC in a report on Tuesday, June 18th. Wells Fargo & Company reissued an “underweight” rating and set a $8.50 target price (down from $9.50) on shares of TriplePoint Venture Growth BDC in a research note on Wednesday, May 29th. Finally, Piper Sandler reduced their target price on shares of TriplePoint Venture Growth BDC from $9.50 to $8.00 and set a “neutral” rating for the company in a research note on Thursday. Three equities research analysts have rated the stock with a sell rating and four have given a hold rating to the stock. Based on data from MarketBeat, TriplePoint Venture Growth BDC has a consensus rating of “Hold” and an average price target of $8.79.

TriplePoint Venture Growth BDC Stock Performance

Shares of NYSE TPVG traded down $0.26 during midday trading on Friday, hitting $7.21. The company’s stock had a trading volume of 1,208,630 shares, compared to its average volume of 365,028. TriplePoint Venture Growth BDC has a 1-year low of $7.10 and a 1-year high of $11.58. The firm’s fifty day moving average price is $8.55 and its 200-day moving average price is $9.41. The firm has a market cap of $272.87 million, a P/E ratio of -6.50 and a beta of 1.78.

TriplePoint Venture Growth BDC (NYSE:TPVG) last posted its quarterly earnings results on Wednesday, August 7th. The investment management company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.10). TriplePoint Venture Growth BDC had a negative net margin of 29.68% and a positive return on equity of 19.64%. The business had revenue of $27.11 million during the quarter, compared to analyst estimates of $28.77 million. During the same period last year, the firm posted $0.53 earnings per share. As a group, research analysts predict that TriplePoint Venture Growth BDC will post 1.58 earnings per share for the current fiscal year.

Institutional Trading of TriplePoint Venture Growth BDC

A number of institutional investors have recently made changes to their positions in the stock. CWM LLC raised its holdings in shares of TriplePoint Venture Growth BDC by 127.5% in the 4th quarter. CWM LLC now owns 2,275 shares of the investment management company’s stock worth $25,000 after purchasing an additional 1,275 shares in the last quarter. Quarry LP raised its holdings in shares of TriplePoint Venture Growth BDC by 43.7% in the 4th quarter. Quarry LP now owns 3,143 shares of the investment management company’s stock worth $34,000 after purchasing an additional 956 shares in the last quarter. Cape Investment Advisory Inc. bought a new stake in shares of TriplePoint Venture Growth BDC in the 4th quarter worth approximately $79,000. Farmers & Merchants Investments Inc. raised its holdings in shares of TriplePoint Venture Growth BDC by 116.9% in the 1st quarter. Farmers & Merchants Investments Inc. now owns 9,833 shares of the investment management company’s stock worth $93,000 after purchasing an additional 5,300 shares in the last quarter. Finally, Hartline Investment Corp bought a new stake in shares of TriplePoint Venture Growth BDC in the 1st quarter worth approximately $98,000. 12.77% of the stock is owned by institutional investors and hedge funds.

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.