TriplePoint Venture Growth BDC (TPVG) Downgraded to Sell at Zacks Investment Research

TriplePoint Venture Growth BDC (NYSE:TPVG) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Thursday, November 9th.

According to Zacks, “TriplePoint Venture Growth BDC Corp. is an externally managed, closed-end, non-diversified management investment company. The Company’s investment objective is to maximize its total return to stockholders primarily in the form of current income and, to a lesser extent, capital appreciation by primarily lending with warrants to venture growth stage companies focused in technology, life sciences and other high growth industries backed by a select group of leading venture capital investors. TriplePoint Venture Growth BDC Corp. is based in United States. “

TPVG has been the subject of a number of other reports. Compass Point downgraded TriplePoint Venture Growth BDC from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $14.41 to $14.00 in a research note on Tuesday, August 29th. ValuEngine upgraded TriplePoint Venture Growth BDC from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 10th.

Shares of TriplePoint Venture Growth BDC (TPVG) traded up $0.59 during trading on Thursday, hitting $13.64. The company’s stock had a trading volume of 142,961 shares, compared to its average volume of 101,562. TriplePoint Venture Growth BDC has a one year low of $11.66 and a one year high of $14.41. The stock has a market cap of $241.58, a price-to-earnings ratio of 8.42, a PEG ratio of 0.83 and a beta of 1.35.

TriplePoint Venture Growth BDC (NYSE:TPVG) last issued its quarterly earnings results on Monday, November 6th. The investment management company reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.01). The business had revenue of $10.42 million for the quarter, compared to analysts’ expectations of $11.22 million. TriplePoint Venture Growth BDC had a return on equity of 12.05% and a net margin of 43.72%. equities research analysts expect that TriplePoint Venture Growth BDC will post 1.64 earnings per share for the current fiscal year.

In other TriplePoint Venture Growth BDC news, President Sajal Srivastava purchased 44,313 shares of the business’s stock in a transaction dated Wednesday, October 25th. The shares were bought at an average price of $13.65 per share, with a total value of $604,872.45. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO James Labe bought 22,156 shares of the company’s stock in a transaction that occurred on Wednesday, October 25th. The shares were purchased at an average cost of $13.65 per share, for a total transaction of $302,429.40. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 73,855 shares of company stock worth $1,008,121. Corporate insiders own 1.31% of the company’s stock.

Institutional investors have recently bought and sold shares of the business. Advisory Services Network LLC grew its position in TriplePoint Venture Growth BDC by 3,082.2% in the second quarter. Advisory Services Network LLC now owns 8,751 shares of the investment management company’s stock worth $116,000 after buying an additional 8,476 shares during the last quarter. Susquehanna International Group LLP grew its position in TriplePoint Venture Growth BDC by 206.2% in the second quarter. Susquehanna International Group LLP now owns 15,717 shares of the investment management company’s stock worth $209,000 after buying an additional 30,510 shares during the last quarter. GSA Capital Partners LLP grew its position in TriplePoint Venture Growth BDC by 35.0% in the second quarter. GSA Capital Partners LLP now owns 15,800 shares of the investment management company’s stock worth $210,000 after buying an additional 4,100 shares during the last quarter. JPMorgan Chase & Co. grew its position in TriplePoint Venture Growth BDC by 1,418.6% in the second quarter. JPMorgan Chase & Co. now owns 18,238 shares of the investment management company’s stock worth $242,000 after buying an additional 17,037 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in TriplePoint Venture Growth BDC during the 2nd quarter worth approximately $354,000. Hedge funds and other institutional investors own 33.83% of the company’s stock.

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TriplePoint Venture Growth BDC Company Profile

TriplePoint Venture Growth BDC Corp. is a closed-end, non-diversified management investment company. The Company’s investment objective is to maximize its total return to stockholders primarily in the form of current income and, to a lesser extent, capital appreciation by primarily lending with warrants to venture growth stage companies focused in technology, life sciences and other high growth industries, which are backed by TriplePoint Capital LLC’s (TPC) select group of venture capital investors.

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