TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) President Purchases $79,311.96 in Stock

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) President Sajal Srivastava bought 11,298 shares of the stock in a transaction on Monday, August 12th. The stock was purchased at an average cost of $7.02 per share, for a total transaction of $79,311.96. Following the acquisition, the president now owns 250,858 shares of the company’s stock, valued at approximately $1,761,023.16. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

TriplePoint Venture Growth BDC Price Performance

NYSE TPVG traded up $0.07 during trading hours on Tuesday, reaching $7.09. The company’s stock had a trading volume of 517,547 shares, compared to its average volume of 369,029. The company’s 50-day moving average is $8.50 and its two-hundred day moving average is $9.37. TriplePoint Venture Growth BDC Corp. has a 1-year low of $6.89 and a 1-year high of $11.58. The firm has a market capitalization of $283.25 million, a price-to-earnings ratio of -6.40 and a beta of 1.78.

TriplePoint Venture Growth BDC (NYSE:TPVG) last issued its quarterly earnings data on Wednesday, August 7th. The investment management company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.10). TriplePoint Venture Growth BDC had a positive return on equity of 18.24% and a negative net margin of 8.03%. The business had revenue of $27.11 million during the quarter, compared to analysts’ expectations of $28.77 million. During the same quarter in the previous year, the company posted $0.53 earnings per share. Equities analysts forecast that TriplePoint Venture Growth BDC Corp. will post 1.47 EPS for the current fiscal year.

TriplePoint Venture Growth BDC Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 16.93%. The ex-dividend date of this dividend is Monday, September 16th. TriplePoint Venture Growth BDC’s payout ratio is -144.14%.

Hedge Funds Weigh In On TriplePoint Venture Growth BDC

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Van ECK Associates Corp raised its holdings in TriplePoint Venture Growth BDC by 16.4% in the 2nd quarter. Van ECK Associates Corp now owns 846,716 shares of the investment management company’s stock valued at $6,799,000 after acquiring an additional 119,184 shares during the last quarter. Norden Group LLC grew its position in shares of TriplePoint Venture Growth BDC by 739.7% during the 1st quarter. Norden Group LLC now owns 125,020 shares of the investment management company’s stock valued at $1,185,000 after buying an additional 110,132 shares during the last quarter. International Assets Investment Management LLC grew its position in TriplePoint Venture Growth BDC by 7.4% in the 4th quarter. International Assets Investment Management LLC now owns 116,495 shares of the investment management company’s stock worth $1,265,000 after purchasing an additional 8,060 shares during the last quarter. Quadrature Capital Ltd bought a new position in shares of TriplePoint Venture Growth BDC in the fourth quarter valued at approximately $655,000. Finally, Strategic Financial Concepts LLC acquired a new stake in TriplePoint Venture Growth BDC during the second quarter valued at approximately $430,000. Hedge funds and other institutional investors own 12.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Piper Sandler cut their target price on TriplePoint Venture Growth BDC from $9.50 to $8.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Keefe, Bruyette & Woods cut their price target on TriplePoint Venture Growth BDC from $9.00 to $8.00 and set an “underperform” rating for the company in a report on Friday. LADENBURG THALM/SH SH cut TriplePoint Venture Growth BDC from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $8.50 to $8.00 in a report on Friday. Finally, Wells Fargo & Company reissued an “underweight” rating and set a $8.50 price target (down from $9.50) on shares of TriplePoint Venture Growth BDC in a research note on Wednesday, May 29th. Three investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $8.79.

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.