Sajal Srivastava Buys 76,700 Shares of TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) Stock

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 business's stock in a transaction on Monday, August 11th. The stock was purchased at an average cost of $6.30 per share, with a total value of $483,210.00. Following the acquisition, the insider directly owned 76,700 shares of the company's stock, valued at $483,210. This represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink.

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 shares were bought at an average cost of $6.28 per share, with a total value of $178,270.36.

TriplePoint Venture Growth BDC Stock Performance

Shares of TPVG stock traded up $0.06 on Wednesday, reaching $6.34. 238,473 shares of the company were exchanged, compared to its average volume of 359,475. TriplePoint Venture Growth BDC Corp. has a 1 year low of $5.53 and a 1 year high of $8.50. The company has a market cap of $255.63 million, a price-to-earnings ratio of 6.10 and a beta of 1.46. The business has a 50-day moving average price of $6.96 and a 200 day moving average price of $6.98.

TriplePoint Venture Growth BDC (NYSE:TPVG - Get Free Report) last announced its quarterly earnings data 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). TriplePoint Venture Growth BDC had a net margin of 42.16% and a return on equity of 13.78%. The business had revenue of $23.28 million for the quarter, compared to analysts' expectations of $23.75 million. As a group, equities analysts anticipate that TriplePoint Venture Growth BDC Corp. will post 1.4 earnings per share for the current 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 dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 14.5%. The ex-dividend date of this dividend is Tuesday, September 16th. TriplePoint Venture Growth BDC's dividend payout ratio is currently 115.38%.

Analyst Upgrades and Downgrades

TPVG has been the subject of a number of research reports. UBS Group reissued a "neutral" rating and set a $7.00 target price (up previously from $6.50) on shares of TriplePoint Venture Growth BDC in a research note on Wednesday, July 16th. Wells Fargo & Company cut their target price on shares of TriplePoint Venture Growth BDC from $6.50 to $5.50 and set an "underweight" rating for the company in a research note on Monday, April 28th. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $6.75.

Institutional Trading of TriplePoint Venture Growth BDC

Several large investors have recently bought and sold shares of the business. 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 valued at $3,710,000 after acquiring an additional 163,916 shares in the last quarter. Northwestern Mutual Wealth Management Co. purchased a new stake in TriplePoint Venture Growth BDC during the 2nd quarter valued at about $35,000. Legal & General Group Plc grew its stake in 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 valued at $1,935,000 after acquiring an additional 11,965 shares in the last quarter. Nomura Asset Management Co. Ltd. purchased a new stake in TriplePoint Venture Growth BDC during the 2nd quarter valued at about $26,000. Finally, Samalin Investment Counsel LLC grew its stake in TriplePoint Venture Growth BDC by 13.1% during the 2nd quarter. Samalin Investment Counsel LLC now owns 92,636 shares of the investment management company's stock valued at $649,000 after acquiring an additional 10,730 shares in the last quarter. Hedge funds and other institutional investors own 12.77% of the company's stock.

About TriplePoint Venture Growth BDC

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.

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