TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) Insider Sajal Srivastava Acquires 76,700 Shares

Key Points

• Sajal Srivastava purchased 76,700 shares of TriplePoint Venture Growth BDC Corp. at an average price of $6.30 per share, resulting in an acquisition valued at $483,210.
• The company recently reported quarterly earnings of $0.28 per share, falling short of analysts' expectations, and revealed a dividend cut with a quarterly payment of $0.23 per share.
• TriplePoint Venture Growth BDC's stock has a market cap of $255.63 million and is currently trading around $6.34, having a 1-year low of $5.53 and a high of $8.50.

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG - Get Free Report) insider Sajal Srivastava acquired 76,700 shares of the stock in a transaction dated Monday, August 11th. The stock was acquired at an average cost of $6.30 per share, with a total value of $483,210.00. Following the purchase, the insider owned 76,700 shares of the company's stock, valued at approximately $483,210. This trade represents a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Tuesday, August 12th, Sajal Srivastava bought 28,387 shares of TriplePoint Venture Growth BDC stock. The stock was bought at an average price of $6.28 per share, with a total value of $178,270.36.

TriplePoint Venture Growth BDC Trading Down 0.6%

TPVG stock traded down $0.04 during trading on Monday, hitting $6.22. 94,144 shares of the company's stock were exchanged, compared to its average volume of 297,728. The stock has a market capitalization of $250.94 million, a price-to-earnings ratio of 5.98 and a beta of 1.46. TriplePoint Venture Growth BDC Corp. has a 52-week low of $5.53 and a 52-week high of $8.50. The business has a 50-day moving average price of $6.93 and a two-hundred day moving average price of $6.95.

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

TriplePoint Venture Growth BDC Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be issued a dividend of $0.23 per share. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $0.92 annualized dividend and a dividend yield of 14.8%. TriplePoint Venture Growth BDC's dividend payout ratio (DPR) is presently 88.46%.

Institutional Trading of TriplePoint Venture Growth BDC

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Marshall Wace LLP grew its stake in 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 buying an additional 163,916 shares during the last quarter. Two Sigma Investments LP boosted its holdings in shares of TriplePoint Venture Growth BDC by 21.9% in the fourth quarter. Two Sigma Investments LP now owns 678,034 shares of the investment management company's stock valued at $5,004,000 after acquiring an additional 122,039 shares during the period. Millennium Management LLC grew its position in shares of TriplePoint Venture Growth BDC by 180.1% during the fourth 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. Alpine Global Management LLC purchased a new position in shares of TriplePoint Venture Growth BDC during the fourth quarter worth approximately $477,000. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of TriplePoint Venture Growth BDC in the 4th quarter valued at $417,000. Institutional investors and hedge funds own 12.77% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Wells Fargo & Company reduced their price target on TriplePoint Venture Growth BDC from $6.50 to $5.50 and set an "underweight" rating on the stock in a research report on Monday, April 28th. Zacks Research upgraded shares of TriplePoint Venture Growth BDC to a "strong sell" rating in a research note on Friday, August 8th. Finally, UBS Group reaffirmed a "neutral" rating and issued a $7.00 target price (up previously from $6.50) on shares of TriplePoint Venture Growth BDC in a report on Wednesday, July 16th. Two equities research analysts have rated the stock with a sell rating and five have given a hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" 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.