Compass Point Lowers TriplePoint Venture Growth BDC (NYSE:TPVG) Price Target to $7.25

TriplePoint Venture Growth BDC (NYSE:TPVG) had its price target decreased by investment analysts at Compass Point from $8.00 to $7.25 in a report issued on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the investment management company’s stock. Compass Point’s price objective points to a potential upside of 3.13% from the company’s current price.

Several other equities analysts also recently weighed in on TPVG. Wells Fargo & Company downgraded TriplePoint Venture Growth BDC from an “equal weight” rating to an “underweight” rating and dropped their price target for the stock from $7.50 to $6.50 in a research report on Monday. Piper Sandler raised their price target on TriplePoint Venture Growth BDC from $7.50 to $8.00 and gave the stock a “neutral” rating in a research report on Thursday, March 6th. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $7.45.

TriplePoint Venture Growth BDC Price Performance

Shares of TPVG stock traded down $0.03 during trading hours on Tuesday, reaching $7.03. 57,416 shares of the company’s stock were exchanged, compared to its average volume of 280,007. The company has a market cap of $282.16 million, a P/E ratio of 33.48 and a beta of 1.90. The company’s 50 day moving average is $7.75 and its two-hundred day moving average is $7.50. TriplePoint Venture Growth BDC has a 1 year low of $6.44 and a 1 year high of $9.73.

TriplePoint Venture Growth BDC (NYSE:TPVG) last released its quarterly earnings data on Wednesday, March 5th. The investment management company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.03). TriplePoint Venture Growth BDC had a net margin of 9.01% and a return on equity of 16.86%. The firm had revenue of $25.75 million during the quarter, compared to analysts’ expectations of $26.68 million. As a group, analysts predict that TriplePoint Venture Growth BDC will post 1.4 EPS for the current fiscal year.

Institutional Investors Weigh In On TriplePoint Venture Growth BDC

Several hedge funds have recently made changes to their positions in TPVG. Alpine Global Management LLC acquired a new position in TriplePoint Venture Growth BDC in the fourth quarter valued at $477,000. PharVision Advisers LLC purchased a new stake in shares of TriplePoint Venture Growth BDC during the fourth quarter worth about $84,000. Two Sigma Advisers LP increased its position in shares of TriplePoint Venture Growth BDC by 6.5% during the fourth quarter. Two Sigma Advisers LP now owns 830,492 shares of the investment management company’s stock worth $6,129,000 after acquiring an additional 50,800 shares during the last quarter. Two Sigma Investments LP increased its position in shares of TriplePoint Venture Growth BDC by 21.9% during the fourth quarter. Two Sigma Investments LP now owns 678,034 shares of the investment management company’s stock worth $5,004,000 after acquiring an additional 122,039 shares during the last quarter. Finally, Millennium Management LLC increased its holdings in TriplePoint Venture Growth BDC by 180.1% in the fourth quarter. Millennium Management LLC now owns 120,602 shares of the investment management company’s stock valued at $890,000 after buying an additional 77,551 shares during the last quarter. Institutional investors and hedge funds own 12.77% of the company’s stock.

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.