Weiss Ratings Reiterates "Hold (C-)" Rating for TriplePoint Venture Growth BDC (NYSE:TPVG)

Key Points

• Weiss Ratings has restated its "Hold (C-)" rating for TriplePoint Venture Growth BDC (NYSE:TPVG), alongside other analysts issuing mixed ratings.
• The stock's current price is $5.57, with an average price target from analysts of $6.75 following a quarterly earnings report that missed expectations.
• Insider transactions showed CEO James Labe acquiring 48,800 shares at an average cost of $6.77, marking a significant increase in their holdings.

TriplePoint Venture Growth BDC (NYSE:TPVG - Get Free Report)'s stock had its "hold (c-)" rating restated by Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

Several other equities research analysts have also commented on TPVG. UBS Group restated a "neutral" rating and issued a $7.00 price target (up previously from $6.50) on shares of TriplePoint Venture Growth BDC in a report on Wednesday, July 16th. Zacks Research upgraded shares of TriplePoint Venture Growth BDC to a "strong sell" rating in a research note on Friday, August 8th. Five investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Reduce" and an average price target of $6.75.

TriplePoint Venture Growth BDC Stock Performance

TriplePoint Venture Growth BDC stock remained flat at $5.57 during trading hours on Wednesday. 274,168 shares of the company's stock traded hands, compared to its average volume of 316,365. The company has a market cap of $224.58 million, a price-to-earnings ratio of 5.36 and a beta of 1.47. TriplePoint Venture Growth BDC has a 12 month low of $5.49 and a 12 month high of $8.50. The business's 50-day simple moving average is $6.33 and its 200-day simple moving average is $6.58.

TriplePoint Venture Growth BDC (NYSE:TPVG - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The investment management company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.02). TriplePoint Venture Growth BDC had a net margin of 42.16% and a return on equity of 13.78%. The company had revenue of $23.28 million during the quarter, compared to analysts' expectations of $23.75 million. Research analysts forecast that TriplePoint Venture Growth BDC will post 1.4 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO James Labe purchased 48,800 shares of the stock in a transaction that occurred on Wednesday, September 3rd. The shares were purchased at an average cost of $6.77 per share, with a total value of $330,376.00. Following the completion of the acquisition, the chief executive officer owned 591,235 shares of the company's stock, valued at approximately $4,002,660.95. This represents a 9.00% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Sajal Srivastava purchased 48,800 shares of the stock in a transaction that occurred on Wednesday, September 3rd. The shares were purchased at an average cost of $6.77 per share, for a total transaction of $330,376.00. Following the completion of the acquisition, the insider directly owned 591,235 shares of the company's stock, valued at $4,002,660.95. This represents a 9.00% increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 1,292,100 shares of company stock worth $8,437,508 over the last three months. 1.46% of the stock is currently owned by insiders.

Hedge Funds Weigh In On TriplePoint Venture Growth BDC

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TPVG. Cambridge Investment Research Advisors Inc. lifted its stake in shares of TriplePoint Venture Growth BDC by 16.2% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 13,132 shares of the investment management company's stock worth $92,000 after buying an additional 1,833 shares in the last quarter. Bank of America Corp DE lifted its stake in shares of TriplePoint Venture Growth BDC by 208.5% in the fourth quarter. Bank of America Corp DE now owns 17,122 shares of the investment management company's stock worth $126,000 after buying an additional 11,572 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new position in shares of TriplePoint Venture Growth BDC in the first quarter worth about $109,000. Private Advisor Group LLC purchased a new position in shares of TriplePoint Venture Growth BDC in the first quarter worth about $72,000. Finally, Norden Group LLC lifted its stake in shares of TriplePoint Venture Growth BDC by 36.4% in the second quarter. Norden Group LLC now owns 56,848 shares of the investment management company's stock worth $399,000 after buying an additional 15,160 shares in the last quarter. 12.77% of the stock is owned by hedge funds and other institutional investors.

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.

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