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 TriplePoint Venture Growth BDC stock in a transaction on Tuesday, August 12th. The stock was bought at an average price of $6.28 per share, with a total value of $178,270.36. Following the transaction, the insider owned 105,087 shares of the company's stock, valued at approximately $659,946.36. This represents a 37.01% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 bought at an average price of $6.30 per share, with a total value of $483,210.00.

TriplePoint Venture Growth BDC Stock Down 0.6%

TPVG stock traded down $0.04 during midday trading on Monday, hitting $6.22. The company's stock had a trading volume of 94,144 shares, compared to its average volume of 297,728. TriplePoint Venture Growth BDC Corp. has a 12 month low of $5.53 and a 12 month high of $8.50. The company has a 50 day moving average of $6.93 and a two-hundred day moving average of $6.95. The firm 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 (NYSE:TPVG - Get Free Report) last issued its earnings results on Wednesday, August 6th. The investment management company reported $0.28 earnings per share for the quarter, missing analysts' consensus estimates of $0.30 by ($0.02). The company had revenue of $23.28 million for the quarter, compared to the consensus estimate of $23.75 million. TriplePoint Venture Growth BDC had a return on equity of 13.78% and a net margin of 42.16%. On average, 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 announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 14.8%. The ex-dividend date of this dividend is Tuesday, September 16th. TriplePoint Venture Growth BDC's payout ratio is 88.46%.

Analyst Ratings Changes

TPVG has been the topic of a number of recent analyst reports. Wells Fargo & Company decreased their target price on shares of 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. Zacks Research upgraded shares of TriplePoint Venture Growth BDC to a "strong sell" rating in a research report on Friday, August 8th. Finally, UBS Group restated 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. Two investment analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. Based on data from MarketBeat.com, TriplePoint Venture Growth BDC has a consensus rating of "Hold" and a consensus price target of $6.75.

Institutional Investors Weigh In On TriplePoint Venture Growth BDC

Large investors have recently made changes to their positions in the company. Bluefin Capital Management LLC purchased a new position in TriplePoint Venture Growth BDC during the 2nd quarter valued at approximately $105,000. Jane Street Group LLC boosted its position in shares of TriplePoint Venture Growth BDC by 7.3% during the 2nd quarter. Jane Street Group LLC now owns 72,663 shares of the investment management company's stock valued at $509,000 after acquiring an additional 4,970 shares during the last quarter. Marshall Wace LLP boosted its position in shares of 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 during the last quarter. Northwestern Mutual Wealth Management Co. purchased a new position in shares of TriplePoint Venture Growth BDC in the second quarter valued at $35,000. Finally, Legal & General Group Plc increased its position in TriplePoint Venture Growth BDC by 4.5% in the second quarter. Legal & General Group Plc now owns 276,451 shares of the investment management company's stock worth $1,935,000 after purchasing an additional 11,965 shares during the last quarter. 12.77% of the stock is owned by institutional investors.

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.