UBS Group Issues Pessimistic Forecast for TriplePoint Venture Growth BDC (NYSE:TPVG) Stock Price

TriplePoint Venture Growth BDC (NYSE:TPVG) had its target price cut by investment analysts at UBS Group from $7.50 to $6.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the investment management company’s stock. UBS Group’s target price indicates a potential upside of 0.42% from the stock’s previous close.

A number of other research firms have also commented on TPVG. Wells Fargo & Company lowered TriplePoint Venture Growth BDC from an “equal weight” rating to an “underweight” rating and reduced their target price for the stock from $7.50 to $6.50 in a report on Monday, March 17th. Compass Point lowered their price objective on shares of TriplePoint Venture Growth BDC from $8.00 to $7.25 and set a “neutral” rating on the stock in a research report on Tuesday, March 18th. Keefe, Bruyette & Woods lowered their price target on TriplePoint Venture Growth BDC from $7.50 to $7.00 and set a “market perform” rating on the stock in a report on Tuesday, April 8th. Finally, Piper Sandler reduced their price objective on TriplePoint Venture Growth BDC from $8.00 to $7.00 and set a “neutral” rating for the company in a research report on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating and six have given a hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $6.96.

TriplePoint Venture Growth BDC Stock Down 0.1 %

TPVG stock opened at $5.98 on Thursday. The business has a 50 day moving average of $7.12 and a 200 day moving average of $7.36. The firm has a market cap of $239.82 million, a PE ratio of 28.45 and a beta of 1.65. TriplePoint Venture Growth BDC has a twelve month low of $5.53 and a twelve 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 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.03). The company had revenue of $25.75 million during the quarter, compared to analysts’ expectations of $26.68 million. TriplePoint Venture Growth BDC had a return on equity of 16.86% and a net margin of 9.01%. On average, research analysts expect that TriplePoint Venture Growth BDC will post 1.4 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of TPVG. EverSource Wealth Advisors LLC raised its stake in TriplePoint Venture Growth BDC by 25.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 10,000 shares of the investment management company’s stock valued at $74,000 after purchasing an additional 2,000 shares during the period. Legal & General Group Plc increased its holdings in TriplePoint Venture Growth BDC by 1.3% in the 4th quarter. Legal & General Group Plc now owns 264,486 shares of the investment management company’s stock valued at $1,951,000 after acquiring an additional 3,418 shares during the last quarter. Summit Securities Group LLC purchased a new stake in TriplePoint Venture Growth BDC in the 4th quarter worth $41,000. Diversify Wealth Management LLC boosted its holdings in shares of TriplePoint Venture Growth BDC by 53.4% during 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 grew its position in shares of TriplePoint Venture Growth BDC by 29.5% during the fourth 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. Institutional investors 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.