Insider Buying: TriplePoint Venture Growth BDC (NYSE:TPVG) CEO Acquires 313,865 Shares of Stock

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) CEO James Labe bought 313,865 shares of the firm’s stock in a transaction on Friday, September 18th. The stock was purchased at an average price of $4.71 per share, for a total transaction of $1,478,304.15. Following the completion of the acquisition, the chief executive officer directly owned 2,312,354 shares in the company, valued at $10,891,187.34. The trade was a 15.71% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

TriplePoint Venture Growth BDC Trading Up 1.3%

TriplePoint Venture Growth BDC stock traded up $0.07 during mid-day trading on Tuesday, hitting $4.91. The company’s stock had a trading volume of 212,791 shares, compared to its average volume of 351,506. The firm has a market capitalization of $199.68 million, a PE ratio of 4.95 and a beta of 1.31. TriplePoint Venture Growth BDC Corp. has a 1 year low of $4.39 and a 1 year high of $6.95. The stock’s fifty day moving average is $5.04 and its two-hundred day moving average is $5.16.

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, topping analysts’ consensus estimates of $0.24 by $0.02. TriplePoint Venture Growth BDC had a return on equity of 10.68% and a net margin of 44.58%.The firm had revenue of $22.15 million during the quarter, compared to the consensus estimate of $22.88 million. On average, equities analysts expect 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. Shareholders of record on Wednesday, December 16th will be given a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 4.9%. The ex-dividend date of this dividend is Wednesday, December 16th. TriplePoint Venture Growth BDC’s payout ratio is currently 92.93%.

Hedge Funds Weigh In On TriplePoint Venture Growth BDC

Hedge funds and other institutional investors have recently bought and sold shares of the company. Legal & General Group Plc acquired a new stake in TriplePoint Venture Growth BDC in the second quarter valued at about $1,597,000. BlackRock Inc. acquired a new stake in TriplePoint Venture Growth BDC in the second quarter valued at $754,000. Bank of America Corp DE purchased a new position in TriplePoint Venture Growth BDC during the 2nd quarter valued at about $620,000. Closed End Fund Advisors Inc. purchased a new stake in TriplePoint Venture Growth BDC in the 4th quarter valued at approximately $232,000. Finally, Attessa Capital LLC acquired a new position in shares of TriplePoint Venture Growth BDC in the second quarter worth $67,000. 12.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on TPVG shares. Piper Sandler lowered their price objective on shares of TriplePoint Venture Growth BDC from $5.50 to $5.00 and set a “neutral” rating for the company in a research note on Monday, July 13th. Weiss Ratings raised 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 dropped 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 report on Thursday, August 6th. Five analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Reduce” and an average target price 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.