Triplepoint Venture Growth BDC (NYSE:TPVG) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Thursday. The firm currently has a $15.00 price target on the investment management company’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 11.94% from the company’s current price.

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. “

Separately, ValuEngine cut shares of Triplepoint Venture Growth BDC from a “hold” rating to a “sell” rating in a report on Friday, November 30th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $14.31.

Shares of TPVG opened at $13.40 on Thursday. Triplepoint Venture Growth BDC has a 1-year low of $10.25 and a 1-year high of $13.95. The stock has a market cap of $331.56 million, a price-to-earnings ratio of 7.84, a P/E/G ratio of 2.81 and a beta of 1.20.

Triplepoint Venture Growth BDC (NYSE:TPVG) last announced its quarterly earnings results on Wednesday, March 6th. The investment management company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.06. Triplepoint Venture Growth BDC had a net margin of 56.56% and a return on equity of 12.21%. The business had revenue of $17.80 million during the quarter, compared to analysts’ expectations of $16.01 million. Equities research analysts anticipate that Triplepoint Venture Growth BDC will post 1.59 EPS for the current year.

Several hedge funds have recently made changes to their positions in the stock. Macquarie Group Ltd. acquired a new position in Triplepoint Venture Growth BDC during the 4th quarter worth approximately $44,000. Great West Life Assurance Co. Can grew its holdings in Triplepoint Venture Growth BDC by 13.3% during the 4th quarter. Great West Life Assurance Co. Can now owns 6,856 shares of the investment management company’s stock worth $72,000 after acquiring an additional 806 shares in the last quarter. Wedbush Securities Inc. acquired a new position in Triplepoint Venture Growth BDC during the 4th quarter worth approximately $120,000. Trexquant Investment LP acquired a new position in Triplepoint Venture Growth BDC during the 3rd quarter worth approximately $384,000. Finally, Virtu Financial LLC acquired a new position in Triplepoint Venture Growth BDC during the 3rd quarter worth approximately $391,000. Hedge funds and other institutional investors own 34.60% of the company’s stock.

About Triplepoint Venture Growth BDC

TriplePoint Venture Growth BDC Corp is a business development company specializing investments in growth stage. It also provides debt financing to venture growth space companies which includes growth capital loans, equipment financings, revolving loans, and direct equity investments. The fund seeks to invest in e-commerce, entertainment, technology and life sciences sector.

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