TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) Insider Acquires $178,270.36 in Stock

Key Points

• Sajal Srivastava, an insider at TriplePoint Venture Growth BDC Corp., acquired 28,387 shares at an average price of $6.28, increasing their total holdings by 37.01% to 105,087 shares, valued at approximately $659,946.36.
• The company is set to pay a quarterly dividend of $0.23 per share on September 30th, representing a dividend yield of 14.5%, although the payout ratio is currently at 115.38%.
• TriplePoint recently reported $0.28 earnings per share (EPS), missing expectations, with revenues of $23.28 million, below the consensus estimate of $23.75 million.

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG - Get Free Report) insider Sajal Srivastava purchased 28,387 shares of the firm's stock in a transaction dated Tuesday, August 12th. The shares were bought at an average cost of $6.28 per share, with a total value of $178,270.36. Following the transaction, the insider directly owned 105,087 shares of the company's stock, valued at approximately $659,946.36. This represents a 37.01% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Monday, August 11th, Sajal Srivastava acquired 76,700 shares of TriplePoint Venture Growth BDC stock. The shares were purchased at an average price of $6.30 per share, for a total transaction of $483,210.00.

TriplePoint Venture Growth BDC Price Performance

TPVG traded up $0.06 during trading hours on Wednesday, hitting $6.34. 238,473 shares of the stock were exchanged, compared to its average volume of 359,475. The stock has a market cap of $255.63 million, a price-to-earnings ratio of 6.10 and a beta of 1.46. TriplePoint Venture Growth BDC Corp. has a 12 month low of $5.53 and a 12 month high of $8.50. The stock has a 50-day simple moving average of $6.96 and a 200-day simple moving average of $6.98.

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 (EPS) for the quarter, missing analysts' consensus estimates of $0.30 by ($0.02). The company had revenue of $23.28 million during the quarter, compared to the consensus estimate of $23.75 million. TriplePoint Venture Growth BDC had a net margin of 42.16% and a return on equity of 13.78%. Sell-side analysts expect that TriplePoint Venture Growth BDC Corp. will post 1.4 EPS 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. Stockholders of record on Tuesday, September 16th will be given a dividend of $0.23 per share. The ex-dividend date is Tuesday, September 16th. This represents a $0.92 annualized dividend and a dividend yield of 14.5%. TriplePoint Venture Growth BDC's payout ratio is currently 115.38%.

Wall Street Analyst Weigh In

TPVG has been the topic of several research analyst reports. Wells Fargo & Company reduced their price objective on TriplePoint Venture Growth BDC from $6.50 to $5.50 and set an "underweight" rating on the stock in a research note on Monday, April 28th. UBS Group restated a "neutral" rating and set a $7.00 price objective (up from $6.50) on shares of TriplePoint Venture Growth BDC in a research note on Wednesday, July 16th. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the company's stock. According to MarketBeat, TriplePoint Venture Growth BDC has a consensus rating of "Hold" and an average target price of $6.75.

Hedge Funds Weigh In On TriplePoint Venture Growth BDC

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Nomura Asset Management Co. Ltd. bought a new stake in shares of TriplePoint Venture Growth BDC during the second quarter valued at about $26,000. Quarry LP lifted its holdings in TriplePoint Venture Growth BDC by 53.6% in the first quarter. Quarry LP now owns 4,669 shares of the investment management company's stock worth $33,000 after purchasing an additional 1,629 shares during the period. Northwestern Mutual Wealth Management Co. acquired a new stake in TriplePoint Venture Growth BDC in the second quarter worth about $35,000. Private Advisor Group LLC acquired a new stake in TriplePoint Venture Growth BDC in the first quarter worth about $72,000. Finally, HighTower Advisors LLC acquired a new stake in TriplePoint Venture Growth BDC in the first quarter worth about $72,000. 12.77% of the stock is owned by institutional investors.

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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