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

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

Several other equities analysts have also commented on the company. Piper Sandler upped their price target on TriplePoint Venture Growth BDC from $7.50 to $8.00 and gave the company a “neutral” rating in a research note on Thursday, March 6th. Wells Fargo & Company downgraded TriplePoint Venture Growth BDC from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $7.50 to $6.50 in a report on Monday. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $7.45.

TriplePoint Venture Growth BDC Stock Performance

Shares of NYSE:TPVG traded down $0.03 during trading on Tuesday, reaching $7.03. The stock had a trading volume of 57,416 shares, compared to its average volume of 280,007. The business has a fifty day moving average price of $7.75 and a 200-day moving average price of $7.50. The stock has a market cap of $282.16 million, a PE ratio of 33.48 and a beta of 1.90. 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 analysts’ consensus estimates of $0.35 by ($0.03). The company had revenue of $25.75 million for the quarter, compared to analyst estimates of $26.68 million. TriplePoint Venture Growth BDC had a return on equity of 16.86% and a net margin of 9.01%. Sell-side analysts expect that TriplePoint Venture Growth BDC will post 1.4 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in TPVG. Alpine Global Management LLC acquired a new stake in shares of TriplePoint Venture Growth BDC in the 4th quarter valued at about $477,000. PharVision Advisers LLC acquired a new stake in shares of TriplePoint Venture Growth BDC in the 4th quarter valued at about $84,000. Two Sigma Advisers LP lifted its position in TriplePoint Venture Growth BDC by 6.5% during the 4th 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 period. Two Sigma Investments LP lifted its position in TriplePoint Venture Growth BDC by 21.9% during the 4th 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 period. Finally, Millennium Management LLC lifted its position in TriplePoint Venture Growth BDC by 180.1% during the 4th quarter. Millennium Management LLC now owns 120,602 shares of the investment management company’s stock worth $890,000 after acquiring an additional 77,551 shares during the period. 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.