TriplePoint Venture Growth BDC (NYSE:TPVG) Stock Rating Lowered by Zacks Research

Key Points

• Zacks Research downgraded TriplePoint Venture Growth BDC to a "strong sell," and combined analyst activity has left the stock with an average MarketBeat rating of "Reduce" and an average price target of $5.63.
• The company reported an EPS and large revenue miss (EPS $0.25 vs. $0.26 est.; revenue $3.42M vs. $23.78M est.), signaling near-term performance concerns driving analyst downgrades and target cuts.
• Shares trade around $5.65 (12‑month range $4.48–$7.53) with a market cap of about $228.6M, a P/E of 4.59, and roughly 12.8% institutional ownership.

TriplePoint Venture Growth BDC (NYSE:TPVG - Get Free Report) was downgraded by research analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

Other equities research analysts also recently issued reports about the company. Keefe, Bruyette & Woods cut their target price on TriplePoint Venture Growth BDC from $7.00 to $6.50 and set a "market perform" rating for the company in a research report on Thursday, March 5th. Piper Sandler cut their target price on TriplePoint Venture Growth BDC from $6.00 to $5.50 and set a "neutral" rating for the company in a research report on Tuesday, April 7th. Wells Fargo & Company cut their target price on TriplePoint Venture Growth BDC from $5.50 to $5.00 and set an "underweight" rating for the company in a research report on Thursday, March 5th. Finally, Weiss Ratings downgraded TriplePoint Venture Growth BDC from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Thursday, March 12th. Three analysts have rated the stock with a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Reduce" and an average price target of $5.63.

TriplePoint Venture Growth BDC Price Performance

Shares of TPVG stock opened at $5.65 on Thursday. TriplePoint Venture Growth BDC has a 12-month low of $4.48 and a 12-month high of $7.53. The firm has a market capitalization of $228.57 million, a price-to-earnings ratio of 4.59 and a beta of 1.32. The business has a 50 day simple moving average of $5.25 and a 200 day simple moving average of $5.81.

TriplePoint Venture Growth BDC (NYSE:TPVG - Get Free Report) last issued its quarterly earnings data on Wednesday, March 4th. The investment management company reported $0.25 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.26 by ($0.01). The business had revenue of $3.42 million during the quarter, compared to the consensus estimate of $23.78 million. TriplePoint Venture Growth BDC had a return on equity of 12.04% and a net margin of 54.12%. On average, equities analysts anticipate that TriplePoint Venture Growth BDC will post 1.4 EPS for the current fiscal year.

Institutional Investors Weigh In On TriplePoint Venture Growth BDC

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Rockefeller Capital Management L.P. lifted its position in shares of TriplePoint Venture Growth BDC by 75.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 7,000 shares of the investment management company's stock valued at $46,000 after acquiring an additional 3,000 shares during the last quarter. XTX Topco Ltd acquired a new stake in shares of TriplePoint Venture Growth BDC during the 4th quarter valued at $354,000. Oxford Asset Management LLP acquired a new stake in shares of TriplePoint Venture Growth BDC during the 4th quarter valued at $74,000. Millennium Management LLC lifted its position in shares of TriplePoint Venture Growth BDC by 20.3% during the 4th quarter. Millennium Management LLC now owns 28,036 shares of the investment management company's stock valued at $183,000 after acquiring an additional 4,729 shares during the last quarter. Finally, Kovack Advisors Inc. lifted its position in shares of TriplePoint Venture Growth BDC by 13.1% during the 4th quarter. Kovack Advisors Inc. now owns 59,383 shares of the investment management company's stock valued at $388,000 after acquiring an additional 6,864 shares during the last quarter. Institutional investors and hedge funds own 12.77% of the company's stock.

TriplePoint Venture Growth BDC Company Profile

TriplePoint Venture Growth BDC Inc is a closed-end management investment company externally managed by TriplePoint Capital LLC. The firm specializes in providing customized debt and equity financing to growth-stage, venture capital– and private equity–backed companies. Its financing solutions include senior secured loans, unitranche facilities, subordinated debt and selective equity co-investments tailored to support expansion, working capital needs and strategic initiatives.

Launched in September 2018 and listed on the New York Stock Exchange under the symbol TPVG, TriplePoint Venture Growth BDC leverages the deep industry expertise and established underwriting capabilities of TriplePoint Capital, a venture lender since 2003.

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