TriplePoint Venture Growth BDC Corp. (NYSE: TPVG – Get a rating) Director Cynthia M. Fornelli purchased 1,000 shares in a trade dated Friday, September 9. The shares were purchased at an average cost of $13.35 per share, for a total transaction of $13,350.00. As a result of the acquisition, the administrator now owns 5,540 shares of the company, valued at approximately $73,959. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available via the SEC website.
TriplePoint Venture Growth BDC trades down 0.2%
NYSE TPVG fell $0.03 on Monday, hitting $13.44. 228,182 shares of the company were traded, against an average volume of 196,912. The company has a 50-day moving average of $13.40 and a two-hundred-day moving average of $14.83. The company has a market capitalization of $417.14 million, a P/E ratio of 9.42 and a beta of 1.68. TriplePoint Venture Growth BDC Corp. has a 1-year minimum of $11.86 and a 1-year maximum of $19.25.
TriplePoint Venture Growth BDC (NYSE: TPVG – Get a rating) last released its quarterly results on Wednesday, August 3. The investment management firm reported earnings per share (EPS) of $0.41 for the quarter, beating the consensus estimate of $0.37 by $0.04. The company posted revenue of $27.43 million for the quarter, versus a consensus estimate of $24.48 million. TriplePoint Venture Growth BDC posted a net margin of 43.80% and a return on equity of 11.53%. In the same quarter of the previous year, the company achieved EPS of $0.30. Research analysts expect TriplePoint Venture Growth BDC Corp. will post an EPS of 1.67 for the current fiscal year.
TriplePoint Venture Growth BDC announces dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, September 30. Shareholders of record on Thursday, September 15 will receive a dividend of $0.36 per share. The ex-dividend date is Wednesday, September 14. This represents a dividend of $1.44 on an annualized basis and a yield of 10.71%. TriplePoint Venture Growth BDC’s payout ratio is currently 100.70%.
Analysts set new price targets
Several equity research analysts have recently weighed in on the stock. TheStreet downgraded shares of TriplePoint Venture Growth BDC from a “b-” rating to a “c” rating in a report released Tuesday, August 23. Piper Sandler lowered her target price on shares of TriplePoint Venture Growth BDC from $19.00 to $16.00 and set an “overweight” rating on the stock in a Tuesday, June 28 report. To finish, StockNews.com downgraded shares of TriplePoint Venture Growth BDC from a “hold” rating to a “sell” rating in a Tuesday, Aug. 23, report. One financial analyst has assigned the stock a sell rating, one has issued a hold rating and three have assigned the stock a buy rating. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $17.19.
Institutional entries and exits
A number of large investors have recently increased or reduced their stake in TPVG. Captrust Financial Advisors acquired a new position in TriplePoint Venture Growth BDC during Q2 worth approximately $25,000. BNP Paribas Arbitrage SA acquired a new equity stake in TriplePoint Venture Growth BDC in Q2 valued at approximately $36,000. Lazard Asset Management LLC acquired a new stake in shares of TriplePoint Venture Growth BDC in Q1 worth approximately $39,000. Steward Partners Investment Advisory LLC increased its position in shares of TriplePoint Venture Growth BDC by 1,451.3% in Q2. Steward Partners Investment Advisory LLC now owns 6,174 shares of the investment management firm valued at $79,000 after acquiring an additional 5,776 shares during the period. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of TriplePoint Venture Growth BDC in Q2 valued at approximately $118,000. 22.15% of the shares are currently held by institutional investors and hedge funds.
Company Profile TriplePoint Venture Growth BDC
TriplePoint Venture Growth BDC Corp. is a business development firm specializing in investments in growth-stage venture capital-backed companies. It also provides debt financing to growth space companies, which includes growth capital loans, secured and customized loans, equipment financing, revolving loans and direct equity investments.
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