Keefe, Bruyette & Woods Has Lowered Expectations for TriplePoint Venture Growth BDC (NYSE:TPVG) Stock Price

TriplePoint Venture Growth BDC (NYSE:TPVG) had its target price reduced by stock analysts at Keefe, Bruyette & Woods from $7.50 to $7.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “market perform” rating on the investment management company’s stock. Keefe, Bruyette & Woods’ price objective would suggest a potential upside of 12.54% from the stock’s current price.

Several other analysts have also commented on the stock. Piper Sandler reduced their price target on shares of TriplePoint Venture Growth BDC from $8.00 to $7.00 and set a “neutral” rating on the stock in a research report on Tuesday. Compass Point lowered their price target on TriplePoint Venture Growth BDC from $8.00 to $7.25 and set a “neutral” rating for the company in a report on Tuesday, March 18th. Finally, Wells Fargo & Company lowered shares of TriplePoint Venture Growth BDC from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $7.50 to $6.50 in a report on Monday, March 17th. One equities research analyst has rated the stock with a sell rating and five have given a hold rating to the company. According to data from MarketBeat, TriplePoint Venture Growth BDC presently has an average rating of “Hold” and an average target price of $7.15.

TriplePoint Venture Growth BDC Trading Up 8.0 %

Shares of NYSE TPVG opened at $6.22 on Tuesday. The stock has a market cap of $249.65 million, a PE ratio of 29.62 and a beta of 1.65. The company has a 50-day moving average of $7.37 and a 200 day moving average of $7.41. TriplePoint Venture Growth BDC has a 12-month low of $5.53 and a 12-month high of $9.73.

TriplePoint Venture Growth BDC (NYSE:TPVG) last posted its quarterly earnings results on Wednesday, March 5th. The investment management company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.03). TriplePoint Venture Growth BDC had a return on equity of 16.86% and a net margin of 9.01%. The company had revenue of $25.75 million for the quarter, compared to analysts’ expectations of $26.68 million. On average, sell-side analysts forecast 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 large investors have recently added to or reduced their stakes in TPVG. EverSource Wealth Advisors LLC grew its position in shares of TriplePoint Venture Growth BDC by 25.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 10,000 shares of the investment management company’s stock worth $74,000 after buying an additional 2,000 shares in the last quarter. Legal & General Group Plc grew its holdings in TriplePoint Venture Growth BDC by 1.3% during the 4th quarter. Legal & General Group Plc now owns 264,486 shares of the investment management company’s stock worth $1,951,000 after acquiring an additional 3,418 shares in the last quarter. Summit Securities Group LLC acquired a new position in TriplePoint Venture Growth BDC during the 4th quarter worth approximately $41,000. Diversify Wealth Management LLC increased its position in shares of TriplePoint Venture Growth BDC by 53.4% in the 4th quarter. Diversify Wealth Management LLC now owns 18,830 shares of the investment management company’s stock valued at $142,000 after purchasing an additional 6,553 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in shares of TriplePoint Venture Growth BDC by 29.5% in the 4th quarter. Northern Trust Corp now owns 31,176 shares of the investment management company’s stock valued at $230,000 after purchasing an additional 7,098 shares in the last quarter. 12.77% of the stock is owned by hedge funds and other institutional investors.

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.