Keefe, Bruyette & Woods Issues Pessimistic Forecast for TriplePoint Venture Growth BDC (NYSE:TPVG) Stock Price

TriplePoint Venture Growth BDC (NYSE:TPVG) had its price target reduced by research analysts at Keefe, Bruyette & Woods from $5.50 to $5.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has a “market perform” rating on the investment management company’s stock. Keefe, Bruyette & Woods‘s price objective would indicate a potential upside of 13.56% from the company’s current price.

Other research analysts have also recently issued research reports about the company. Weiss Ratings cut TriplePoint Venture Growth BDC from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, October 8th. Piper Sandler reduced their price objective on TriplePoint Venture Growth BDC from $5.50 to $5.00 and set a “neutral” rating for the company in a research note on Monday, July 13th. Three equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus price target of $5.00.

TriplePoint Venture Growth BDC Trading Down 1.3%

NYSE:TPVG traded down $0.06 during mid-day trading on Thursday, hitting $4.40. The stock had a trading volume of 474,687 shares, compared to its average volume of 182,200. The company has a 50 day simple moving average of $4.78 and a 200-day simple moving average of $5.16. The stock has a market capitalization of $179.25 million, a price-to-earnings ratio of 7.72 and a beta of 1.35. TriplePoint Venture Growth BDC has a 52 week low of $4.11 and a 52 week high of $6.95.

TriplePoint Venture Growth BDC (NYSE:TPVG) last announced its earnings results on Wednesday, November 4th. The investment management company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.06). TriplePoint Venture Growth BDC had a net margin of 44.58% and a return on equity of 10.68%. The company had revenue of $20.17 million during the quarter, compared to the consensus estimate of $22.18 million. As a group, equities research analysts anticipate that TriplePoint Venture Growth BDC will post 0.87 earnings per share for the current year.

Insider Activity at TriplePoint Venture Growth BDC

In related news, CEO James Labe bought 313,865 shares of the firm’s stock in a transaction on Friday, September 18th. The stock was purchased at an average price of $4.71 per share, with a total value of $1,478,304.15. Following the completion of the transaction, the chief executive officer directly owned 2,312,354 shares of the company’s stock, valued at $10,891,187.34. This trade represents a 15.71% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Sajal Srivastava sold 313,865 shares of the firm’s stock in a transaction on Friday, September 18th. The shares were sold at an average price of $4.71, for a total transaction of $1,478,304.15. The SEC filing for this sale provides additional information. Insiders own 1.55% of the company’s stock.

Institutional Trading of TriplePoint Venture Growth BDC

A number of hedge funds have recently bought and sold shares of the stock. Legal & General Group Plc bought a new stake in shares of TriplePoint Venture Growth BDC in the 2nd quarter valued at approximately $1,597,000. Bank of America Corp DE bought a new position in shares of TriplePoint Venture Growth BDC during the 2nd quarter worth approximately $620,000. BlackRock Inc. bought a new position in shares of TriplePoint Venture Growth BDC during the 2nd quarter worth approximately $754,000. Kestra Advisory Services LLC acquired a new stake in TriplePoint Venture Growth BDC in the 3rd quarter valued at $64,000. Finally, Ritholtz Wealth Management acquired a new stake in TriplePoint Venture Growth BDC in the 3rd quarter valued at $640,000. 12.77% of the stock is owned by institutional investors.

TriplePoint Venture Growth BDC Company Profile

TriplePoint Venture Growth BDC Corp. is a business development company that provides financing to venture growth-stage companies. The company primarily invests in businesses backed by venture capital or private equity sponsors, with an emphasis on companies that have developed products or services and are seeking capital to support expansion, acquisitions, working capital and other corporate purposes.

Its investment portfolio is focused largely on companies in technology, life sciences and other high-growth industries.