James Labe Purchases 313,865 Shares of TriplePoint Venture Growth BDC (NYSE:TPVG) Stock

Key Points

• CEO James Labe purchased 313,865 TPVG shares at an average price of $4.71, investing approximately $1.48 million and increasing his direct stake by 15.71% to 2.31 million shares.
• TriplePoint Venture Growth BDC shares recently traded at $4.91, near the lower end of their 52-week range of $4.39 to $6.95. Analysts remain cautious, with the stock carrying an average “Reduce” rating and a $5.25 price target.
• The company reported quarterly EPS of $0.26, beating estimates, but cut its quarterly dividend to $0.06 per share, or $0.24 annually, representing a 4.9% yield and a payout ratio of 92.93%.

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG - Get Free Report) CEO James Labe acquired 313,865 shares of the business's stock in a transaction dated Friday, September 18th. The stock was purchased at an average price of $4.71 per share, with a total value of $1,478,304.15. Following the completion of the transaction, the chief executive officer directly owned 2,312,354 shares of the company's stock, valued at $10,891,187.34. This trade represents a 15.71% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

TriplePoint Venture Growth BDC Stock Performance

TriplePoint Venture Growth BDC stock traded up $0.07 during midday trading on Tuesday, hitting $4.91. 212,791 shares of the company's stock were exchanged, compared to its average volume of 351,506. The company has a market cap of $199.68 million, a P/E ratio of 4.95 and a beta of 1.31. The stock has a 50-day moving average price of $5.04 and a two-hundred day moving average price of $5.16. TriplePoint Venture Growth BDC Corp. has a 52-week low of $4.39 and a 52-week high of $6.95.

TriplePoint Venture Growth BDC (NYSE:TPVG - Get Free Report) last posted 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. The company had revenue of $22.15 million during the quarter, compared to the consensus estimate of $22.88 million. TriplePoint Venture Growth BDC had a net margin of 44.58% and a return on equity of 10.68%. As a group, sell-side analysts expect that TriplePoint Venture Growth BDC Corp. will post 0.94 earnings per share for the current year.

TriplePoint Venture Growth BDC Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 30th. Investors of record on Wednesday, December 16th will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date is Wednesday, December 16th. TriplePoint Venture Growth BDC's dividend payout ratio is currently 92.93%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. 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. Keefe, Bruyette & Woods reduced their target price on TriplePoint Venture Growth BDC from $6.00 to $5.50 and set a "market perform" rating on the stock in a report on Thursday, August 6th. Finally, Piper Sandler decreased their target price on TriplePoint Venture Growth BDC from $5.50 to $5.00 and set a "neutral" rating for the company in a research report on Monday, July 13th. Five investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Reduce" and an average price target of $5.25.

Institutional Trading of TriplePoint Venture Growth BDC

Large investors have recently added to or reduced their stakes in the business. Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its stake in 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 worth $72,000 after buying an additional 2,435 shares in the last quarter. Rockefeller Capital Management L.P. boosted its stake in shares of TriplePoint Venture Growth BDC by 75.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 7,000 shares of the investment management company's stock worth $46,000 after acquiring an additional 3,000 shares during the last quarter. Summit Securities Group LLC increased its position in shares of TriplePoint Venture Growth BDC by 257.1% during the first quarter. Summit Securities Group LLC now owns 5,000 shares of the investment management company's stock worth $25,000 after purchasing an additional 3,600 shares in the last quarter. Cetera Investment Advisers increased its position in shares of TriplePoint Venture Growth BDC by 15.7% during the first quarter. Cetera Investment Advisers now owns 54,299 shares of the investment management company's stock worth $271,000 after purchasing an additional 7,355 shares in the last quarter. Finally, AXQ Capital LP acquired a new position in TriplePoint Venture Growth BDC in the 4th quarter valued at $72,000. 12.77% of the stock is currently owned by institutional investors.

About TriplePoint Venture Growth BDC

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.

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