TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) Given Consensus Recommendation of “Hold” by Brokerages

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) has been assigned an average recommendation of “Hold” from the six ratings firms that are presently covering the firm, MarketBeat.com reports. Six equities research analysts have rated the stock with a hold rating. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $7.70.

Several research firms recently commented on TPVG. StockNews.com upgraded shares of TriplePoint Venture Growth BDC from a “sell” rating to a “hold” rating in a research note on Friday, November 15th. Compass Point lifted their target price on TriplePoint Venture Growth BDC from $7.50 to $8.00 and gave the stock a “neutral” rating in a report on Thursday, December 5th. Keefe, Bruyette & Woods raised TriplePoint Venture Growth BDC from an “underperform” rating to a “market perform” rating and dropped their target price for the stock from $8.00 to $7.50 in a report on Thursday, November 7th. Piper Sandler decreased their price objective on shares of TriplePoint Venture Growth BDC from $8.00 to $7.50 and set a “neutral” rating for the company in a research report on Thursday, November 7th. Finally, Wells Fargo & Company increased their price objective on shares of TriplePoint Venture Growth BDC from $6.50 to $7.50 and gave the company an “equal weight” rating in a report on Tuesday, November 19th.

TriplePoint Venture Growth BDC Stock Performance

NYSE:TPVG opened at $7.73 on Friday. The stock has a fifty day simple moving average of $7.67 and a 200-day simple moving average of $7.50. TriplePoint Venture Growth BDC has a twelve month low of $6.44 and a twelve month high of $11.17. The company has a market cap of $309.59 million, a price-to-earnings ratio of 36.81 and a beta of 1.88.

Institutional Investors Weigh In On TriplePoint Venture Growth BDC

A number of large investors have recently modified their holdings of the company. Millennium Management LLC lifted its position in TriplePoint Venture Growth BDC by 169.5% in the second quarter. Millennium Management LLC now owns 432,206 shares of the investment management company’s stock valued at $3,471,000 after acquiring an additional 271,824 shares during the last quarter. International Assets Investment Management LLC raised its position in TriplePoint Venture Growth BDC by 435.6% during the 3rd quarter. International Assets Investment Management LLC now owns 107,630 shares of the investment management company’s stock worth $760,000 after buying an additional 87,535 shares during the last quarter. Diversify Advisory Services LLC raised its stake in shares of TriplePoint Venture Growth BDC by 31.2% during the 3rd 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. Diversify Wealth Management LLC purchased a new position in TriplePoint Venture Growth BDC in the third quarter worth $82,000. Finally, Aigen Investment Management LP acquired a new stake in TriplePoint Venture Growth BDC in the third quarter valued at $138,000. 12.77% of the stock is owned by hedge funds and other institutional investors.

About TriplePoint Venture Growth BDC

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.