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

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) President Sajal Srivastava bought 11,298 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were purchased at an average price of $7.02 per share, with a total value of $79,311.96. Following the completion of 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 document filed with the SEC, which is accessible through this hyperlink.

TriplePoint Venture Growth BDC Price Performance

Shares of NYSE TPVG opened at $7.39 on Friday. 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 50-day moving average of $8.38 and a 200 day moving average of $9.31. The stock has a market cap of $279.49 million, a P/E ratio of -6.65 and a beta of 1.78.

TriplePoint Venture Growth BDC (NYSE:TPVG) last posted its quarterly earnings results 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 company 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 earned $0.53 EPS. Research analysts expect that TriplePoint Venture Growth BDC Corp. will post 1.47 earnings per share for the current fiscal year.

TriplePoint Venture Growth BDC Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $1.20 annualized dividend and a yield of 16.25%. TriplePoint Venture Growth BDC’s dividend payout ratio (DPR) is presently -108.11%.

Analyst Upgrades and Downgrades

TPVG has been the subject of several research analyst reports. Piper Sandler dropped their price objective on TriplePoint Venture Growth BDC from $9.50 to $8.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. LADENBURG THALM/SH SH cut shares of TriplePoint Venture Growth BDC from a “buy” rating to a “neutral” rating and cut their price target for the company from $8.50 to $8.00 in a report on Friday, August 9th. Keefe, Bruyette & Woods decreased their price objective on shares of TriplePoint Venture Growth BDC from $9.00 to $8.00 and set an “underperform” rating for the company in a report on Friday, August 9th. Finally, Wells Fargo & Company restated an “underweight” rating and issued a $8.50 price objective (down from $9.50) on shares of TriplePoint Venture Growth BDC in a report on Wednesday, May 29th. Three analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $8.79.

Institutional Investors Weigh In On TriplePoint Venture Growth BDC

Institutional investors have recently made changes to their positions in the company. CWM LLC boosted its position in shares of TriplePoint Venture Growth BDC by 127.5% during the fourth quarter. CWM LLC now owns 2,275 shares of the investment management company’s stock valued at $25,000 after buying an additional 1,275 shares during the last quarter. Quarry LP boosted its holdings in shares of TriplePoint Venture Growth BDC by 43.7% during the 4th quarter. Quarry LP now owns 3,143 shares of the investment management company’s stock valued at $34,000 after acquiring an additional 956 shares during the last quarter. EverSource Wealth Advisors LLC bought a new stake in shares of TriplePoint Venture Growth BDC in the second quarter worth approximately $62,000. Cape Investment Advisory Inc. purchased a new position in shares of TriplePoint Venture Growth BDC during the fourth quarter valued at approximately $79,000. Finally, Farmers & Merchants Investments Inc. raised its holdings in shares of TriplePoint Venture Growth BDC by 116.9% during the first quarter. Farmers & Merchants Investments Inc. now owns 9,833 shares of the investment management company’s stock valued at $93,000 after purchasing an additional 5,300 shares during the last quarter. Hedge funds and other 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.