TriplePoint Venture Growth BDC (NYSE:TPVG) Insider Sells $1,478,304.15 in Stock

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) insider Sajal Srivastava sold 313,865 shares of the stock in a transaction on Friday, September 18th. The shares were sold at an average price of $4.71, for a total value of $1,478,304.15. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

TriplePoint Venture Growth BDC Stock Performance

TriplePoint Venture Growth BDC stock opened at $4.82 on Friday. TriplePoint Venture Growth BDC Corp. has a fifty-two week low of $4.39 and a fifty-two week high of $6.95. The company has a market capitalization of $196.02 million, a price-to-earnings ratio of 4.86 and a beta of 1.31. The stock has a fifty day moving average of $5.04 and a two-hundred day moving average of $5.15.

TriplePoint Venture Growth BDC (NYSE:TPVG) last issued its quarterly earnings data on Wednesday, August 5th. The investment management company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.02. The business had revenue of $22.15 million for the quarter, compared to the consensus estimate of $22.88 million. TriplePoint Venture Growth BDC had a return on equity of 10.68% and a net margin of 44.58%. On average, analysts forecast that TriplePoint Venture Growth BDC Corp. will post 0.94 EPS for the current fiscal year.

TriplePoint Venture Growth BDC Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 30th. Investors of record on Wednesday, December 16th will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 5.0%. The ex-dividend date of this dividend is Wednesday, December 16th. This is a negative change from TriplePoint Venture Growth BDC’s previous quarterly dividend of $0.29. TriplePoint Venture Growth BDC’s dividend payout ratio is presently 92.93%.

Institutional Investors Weigh In On TriplePoint Venture Growth BDC

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Legal & General Group Plc acquired a new position in TriplePoint Venture Growth BDC in the second quarter valued at $1,597,000. BlackRock Inc. acquired a new stake in TriplePoint Venture Growth BDC in the 2nd quarter worth about $754,000. Bank of America Corp DE purchased a new stake in TriplePoint Venture Growth BDC in the 2nd quarter valued at about $620,000. Cetera Investment Advisers grew its holdings in TriplePoint Venture Growth BDC by 15.7% in the 1st quarter. Cetera Investment Advisers now owns 54,299 shares of the investment management company’s stock valued at $271,000 after buying an additional 7,355 shares during the period. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its stake in shares of TriplePoint Venture Growth BDC by 19.9% during the 2nd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 14,659 shares of the investment management company’s stock valued at $72,000 after acquiring an additional 2,435 shares during the last quarter. Hedge funds and other institutional investors own 12.77% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Piper Sandler decreased their price target on shares of TriplePoint Venture Growth BDC from $5.50 to $5.00 and set a “neutral” rating on the stock in a research note on Monday, July 13th. Weiss Ratings raised shares of TriplePoint Venture Growth BDC from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, September 16th. Finally, Keefe, Bruyette & Woods reduced their price objective on shares of TriplePoint Venture Growth BDC from $6.00 to $5.50 and set a “market perform” rating on the stock in a research note on Thursday, August 6th. Five analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, TriplePoint Venture Growth BDC presently has a consensus rating of “Reduce” and an average price target of $5.25.

TriplePoint Venture Growth BDC Company Profile

TriplePoint Venture Growth BDC Corp. is a business development company that provides financing to venture growth-stage companies. The company primarily supports businesses backed by venture capital or private equity investors, offering capital to help fund expansion, acquisitions, working capital needs and other corporate purposes.

TriplePoint Venture Growth typically invests through secured loans, including term loans and other forms of debt financing. It may also receive warrants or make equity investments in portfolio companies, allowing it to participate in their potential growth.