Sajal Srivastava Sells 313,865 Shares of TriplePoint Venture Growth BDC (NYSE:TPVG) Stock

Key Points

• Insider sale: Sajal Srivastava sold 313,865 TPVG shares at an average price of $4.71, generating approximately $1.48 million in proceeds.
• Dividend cut: TriplePoint Venture Growth BDC declared a quarterly dividend of $0.06 per share, or $0.24 annually, representing a 4.9% yield.
• Mixed outlook: TPVG reported quarterly EPS of $0.26, ahead of estimates, but analysts maintain a consensus “Reduce” rating with an average price target of $5.25.

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG - Get Free Report) insider Sajal Srivastava sold 313,865 shares of the firm's stock in a transaction dated 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 Securities & Exchange Commission, which is accessible through this hyperlink.

TriplePoint Venture Growth BDC Stock Up 1.3%

NYSE:TPVG traded up $0.07 on Tuesday, hitting $4.91. The stock had a trading volume of 212,791 shares, compared to its average volume of 351,506. TriplePoint Venture Growth BDC Corp. has a 52 week low of $4.39 and a 52 week high of $6.95. The business's fifty day moving average is $5.04 and its 200 day moving average is $5.16. The company has a market cap of $199.68 million, a PE ratio of 4.95 and a beta of 1.31.

TriplePoint Venture Growth BDC (NYSE:TPVG - Get Free Report) last issued its earnings results 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 for the quarter, compared to analysts' expectations of $22.88 million. TriplePoint Venture Growth BDC had a return on equity of 10.68% and a net margin of 44.58%. Equities analysts predict that TriplePoint Venture Growth BDC Corp. will post 0.94 earnings per share for the current fiscal year.

TriplePoint Venture Growth BDC Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 30th. Stockholders 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 dividend yield of 4.9%. The ex-dividend date is Wednesday, December 16th. TriplePoint Venture Growth BDC's dividend payout ratio (DPR) is currently 92.93%.

Hedge Funds Weigh In On TriplePoint Venture Growth BDC

Several large investors have recently bought and sold shares of TPVG. Summit Securities Group LLC grew its stake in shares of TriplePoint Venture Growth BDC by 257.1% in the 1st quarter. Summit Securities Group LLC now owns 5,000 shares of the investment management company's stock worth $25,000 after acquiring an additional 3,600 shares in the last quarter. Rockefeller Capital Management L.P. lifted its position in shares of TriplePoint Venture Growth BDC by 75.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 7,000 shares of the investment management company's stock valued at $46,000 after purchasing an additional 3,000 shares in the last quarter. AXQ Capital LP bought a new position in shares of TriplePoint Venture Growth BDC during the fourth quarter valued at about $72,000. Attessa Capital LLC purchased a new position in TriplePoint Venture Growth BDC during the second quarter worth about $67,000. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its holdings in TriplePoint Venture Growth BDC by 19.9% during the second 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 purchasing an additional 2,435 shares during the last quarter. 12.77% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Piper Sandler lowered their target price on shares of TriplePoint Venture Growth BDC from $5.50 to $5.00 and set a "neutral" rating on the stock in a report on Monday, July 13th. Keefe, Bruyette & Woods cut their price target on TriplePoint Venture Growth BDC from $6.00 to $5.50 and set a "market perform" rating for the company in a research note on Thursday, August 6th. Finally, Weiss Ratings raised TriplePoint Venture Growth BDC from a "sell (d+)" rating to a "hold (c-)" rating in a report on Wednesday, September 16th. Five research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus 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.

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