Compass Point Issues Pessimistic Forecast for TriplePoint Venture Growth BDC (NYSE:TPVG) Stock Price

TriplePoint Venture Growth BDC (NYSE:TPVG) had its price target lowered by Compass Point from $8.00 to $7.25 in a report issued on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the investment management company’s stock. Compass Point’s price target would suggest a potential upside of 1.33% from the stock’s current price.

Other analysts have also recently issued research reports about the stock. Piper Sandler upped their target price on shares of TriplePoint Venture Growth BDC from $7.50 to $8.00 and gave the company a “neutral” rating in a research report on Thursday, March 6th. Wells Fargo & Company cut shares of TriplePoint Venture Growth BDC from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $7.50 to $6.50 in a research report on Monday. One investment analyst has rated the stock with a sell rating and five have issued a hold rating to the company. According to MarketBeat, TriplePoint Venture Growth BDC presently has a consensus rating of “Hold” and an average target price of $7.45.

TriplePoint Venture Growth BDC Price Performance

Shares of TriplePoint Venture Growth BDC stock opened at $7.16 on Tuesday. The firm has a market cap of $287.18 million, a P/E ratio of 34.07 and a beta of 1.90. The firm has a 50 day simple moving average of $7.74 and a 200 day simple moving average of $7.49. TriplePoint Venture Growth BDC has a fifty-two week low of $6.44 and a fifty-two week high of $9.73.

TriplePoint Venture Growth BDC (NYSE:TPVG) last issued its quarterly earnings results 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 during the quarter, compared to analyst estimates of $26.68 million. TriplePoint Venture Growth BDC had a net margin of 9.01% and a return on equity of 16.86%. On average, sell-side analysts expect that TriplePoint Venture Growth BDC will post 1.4 EPS for the current year.

Hedge Funds Weigh In On TriplePoint Venture Growth BDC

Institutional investors and hedge funds have recently made changes to their positions in the company. Jane Street Group LLC grew its holdings in shares of TriplePoint Venture Growth BDC by 712.4% in the 3rd quarter. Jane Street Group LLC now owns 104,997 shares of the investment management company’s stock valued at $741,000 after buying an additional 92,072 shares during the period. BNP Paribas Financial Markets grew its holdings in shares of TriplePoint Venture Growth BDC by 214.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 13,200 shares of the investment management company’s stock valued at $93,000 after buying an additional 9,000 shares during the period. XTX Topco Ltd acquired a new position in shares of TriplePoint Venture Growth BDC in the 3rd quarter valued at $118,000. Strategic Financial Concepts LLC acquired a new position in shares of TriplePoint Venture Growth BDC in the 4th quarter valued at $120,000. Finally, Townsquare Capital LLC grew its holdings in shares of TriplePoint Venture Growth BDC by 12.3% in the 3rd quarter. Townsquare Capital LLC now owns 75,845 shares of the investment management company’s stock valued at $535,000 after buying an additional 8,311 shares during the period. Institutional investors and hedge funds own 12.77% of the company’s stock.

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.