TriplePoint Venture Growth BDC (NYSE:TPVG) Announces Quarterly Earnings Results

TriplePoint Venture Growth BDC (NYSE:TPVG) released its earnings results on Wednesday. The investment management company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01, Zacks reports. The business had revenue of $26.52 million for the quarter, compared to analyst estimates of $25.65 million. TriplePoint Venture Growth BDC had a return on equity of 17.07% and a net margin of 9.01%. During the same quarter last year, the firm posted $0.54 earnings per share.

TriplePoint Venture Growth BDC Stock Performance

TPVG stock traded up $0.33 during trading on Friday, reaching $7.87. 496,133 shares of the company traded hands, compared to its average volume of 362,146. The business has a 50 day simple moving average of $7.00 and a 200 day simple moving average of $8.05. TriplePoint Venture Growth BDC has a 12 month low of $6.44 and a 12 month high of $11.58. The company has a market capitalization of $314.43 million, a price-to-earnings ratio of 37.48 and a beta of 1.80.

TriplePoint Venture Growth BDC Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 15.25%. The ex-dividend date is Friday, December 13th. TriplePoint Venture Growth BDC’s payout ratio is 571.43%.

Insiders Place Their Bets

In other news, President Sajal Srivastava bought 11,298 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The stock was bought at an average price of $7.02 per share, with a total value of $79,311.96. Following the completion of the transaction, the president now directly owns 250,858 shares of the company’s stock, valued at approximately $1,761,023.16. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.01% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

TPVG has been the subject of a number of research analyst reports. Piper Sandler decreased their price objective on shares of TriplePoint Venture Growth BDC from $8.00 to $7.50 and set a “neutral” rating for the company in a report on Thursday. Wells Fargo & Company lowered their price target on TriplePoint Venture Growth BDC from $8.00 to $6.50 and set an “underweight” rating for the company in a report on Tuesday, October 29th. Keefe, Bruyette & Woods upgraded TriplePoint Venture Growth BDC from an “underperform” rating to a “market perform” rating and reduced their price objective for the stock from $8.00 to $7.50 in a report on Thursday. Finally, LADENBURG THALM/SH SH cut TriplePoint Venture Growth BDC from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $8.50 to $8.00 in a report on Friday, August 9th. Two investment analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. Based on data from MarketBeat.com, TriplePoint Venture Growth BDC currently has a consensus rating of “Hold” and an average target price of $7.65.

TriplePoint Venture Growth BDC Company Profile

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.