TriplePoint Venture Growth BDC (NYSE:TPVG) Insider Acquires $437,450.00 in Stock

Key Points

• Sajal Srivastava, an insider at TriplePoint Venture Growth BDC, purchased 65,000 shares of stock at an average price of $6.73 per share, increasing their ownership by 15.35%.
• TriplePoint Venture Growth BDC recently reported a net income miss with earnings of $0.28 per share, falling short of estimates by $0.02.
• The company announced a quarterly dividend of $0.23 per share, representing a dividend yield of 13.6%, but has a payout ratio of 115.38%.

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG - Get Free Report) insider Sajal Srivastava acquired 65,000 shares of the company's stock in a transaction dated Friday, August 29th. The shares were bought at an average price of $6.73 per share, for a total transaction of $437,450.00. Following the acquisition, the insider directly owned 488,435 shares of the company's stock, valued at approximately $3,287,167.55. This trade represents a 15.35% increase in their position. The acquisition was disclosed in a filing with the SEC, which is accessible through this link.

Sajal Srivastava also recently made the following trade(s):

• On Wednesday, September 3rd, Sajal Srivastava acquired 48,800 shares of TriplePoint Venture Growth BDC stock. The shares were bought at an average price of $6.77 per share, for a total transaction of $330,376.00.
• On Tuesday, September 2nd, Sajal Srivastava bought 54,000 shares of TriplePoint Venture Growth BDC stock. The stock was acquired at an average price of $6.72 per share, for a total transaction of $362,880.00.
• On Friday, August 29th, Sajal Srivastava bought 65,000 shares of TriplePoint Venture Growth BDC stock. The stock was acquired at an average price of $6.73 per share, for a total transaction of $437,450.00.
• On Thursday, August 28th, Sajal Srivastava bought 44,630 shares of TriplePoint Venture Growth BDC stock. The stock was acquired at an average price of $6.64 per share, for a total transaction of $296,343.20.
• On Thursday, August 28th, Sajal Srivastava bought 44,630 shares of TriplePoint Venture Growth BDC stock. The stock was acquired at an average price of $6.64 per share, for a total transaction of $296,343.20.
• On Wednesday, August 27th, Sajal Srivastava bought 53,160 shares of TriplePoint Venture Growth BDC stock. The stock was acquired at an average price of $6.63 per share, for a total transaction of $352,450.80.
• On Tuesday, August 26th, Sajal Srivastava bought 27,988 shares of TriplePoint Venture Growth BDC stock. The stock was acquired at an average price of $6.48 per share, for a total transaction of $181,362.24.
• On Monday, August 25th, Sajal Srivastava bought 80,000 shares of TriplePoint Venture Growth BDC stock. The stock was acquired at an average price of $6.48 per share, for a total transaction of $518,400.00.
• On Friday, August 22nd, Sajal Srivastava bought 42,003 shares of TriplePoint Venture Growth BDC stock. The stock was acquired at an average price of $6.44 per share, for a total transaction of $270,499.32.
• On Thursday, August 21st, Sajal Srivastava bought 31,000 shares of TriplePoint Venture Growth BDC stock. The stock was acquired at an average price of $6.30 per share, for a total transaction of $195,300.00.

TriplePoint Venture Growth BDC Trading Up 0.1%

Shares of TPVG traded up $0.01 on Friday, reaching $6.81. The company's stock had a trading volume of 229,333 shares, compared to its average volume of 372,877. TriplePoint Venture Growth BDC Corp. has a twelve month low of $5.53 and a twelve month high of $8.50. The stock has a market capitalization of $274.58 million, a PE ratio of 6.55 and a beta of 1.48. The firm has a fifty day moving average of $6.81 and a 200-day moving average of $6.81.

TriplePoint Venture Growth BDC (NYSE:TPVG - Get Free Report) last posted its earnings results on Wednesday, August 6th. The investment management company reported $0.28 earnings per share for the quarter, missing analysts' consensus estimates of $0.30 by ($0.02). TriplePoint Venture Growth BDC had a return on equity of 13.78% and a net margin of 42.16%.The business had revenue of $23.28 million during the quarter, compared to analyst estimates of $23.75 million. As a group, equities analysts anticipate that TriplePoint Venture Growth BDC Corp. will post 1.4 EPS for the current fiscal year.

TriplePoint Venture Growth BDC Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 13.5%. The ex-dividend date is Tuesday, September 16th. TriplePoint Venture Growth BDC's payout ratio is currently 115.38%.

Institutional Trading of TriplePoint Venture Growth BDC

A number of hedge funds have recently made changes to their positions in the stock. Two Sigma Advisers LP lifted its holdings in shares of TriplePoint Venture Growth BDC by 6.5% during the 4th quarter. Two Sigma Advisers LP now owns 830,492 shares of the investment management company's stock worth $6,129,000 after acquiring an additional 50,800 shares during the last quarter. Two Sigma Investments LP lifted its holdings in shares of TriplePoint Venture Growth BDC by 21.9% during the 4th quarter. Two Sigma Investments LP now owns 678,034 shares of the investment management company's stock worth $5,004,000 after acquiring an additional 122,039 shares during the last quarter. Marshall Wace LLP lifted its holdings in shares of TriplePoint Venture Growth BDC by 44.9% during the 2nd quarter. Marshall Wace LLP now owns 529,201 shares of the investment management company's stock worth $3,710,000 after acquiring an additional 163,916 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of TriplePoint Venture Growth BDC by 4.5% during the 2nd quarter. Legal & General Group Plc now owns 276,451 shares of the investment management company's stock worth $1,935,000 after acquiring an additional 11,965 shares during the last quarter. Finally, Millennium Management LLC lifted its holdings in shares of TriplePoint Venture Growth BDC by 180.1% during the 4th quarter. Millennium Management LLC now owns 120,602 shares of the investment management company's stock worth $890,000 after acquiring an additional 77,551 shares during the last quarter. 12.77% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Zacks Research upgraded shares of TriplePoint Venture Growth BDC to a "strong sell" rating in a research note on Friday, August 8th. UBS Group reiterated a "neutral" rating and issued a $7.00 price objective (up from $6.50) on shares of TriplePoint Venture Growth BDC in a research note on Wednesday, July 16th. Four analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Reduce" and an average price target of $6.75.

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.