TriplePoint Venture Growth BDC (NYSE:TPVG) CEO James Labe Purchases 44,630 Shares

Key Points

• TriplePoint Venture Growth BDC CEO James Labe purchased a total of 44,630 shares on August 28th at an average price of $6.64 per share, increasing his ownership by 11.78%.
• The company's recent quarterly earnings reported an EPS of $0.28, falling short of the $0.30 estimate, with a net margin of 42.16% and revenue of $23.28 million.
• TriplePoint recently cut its dividend to $0.23 per share, translating to a 13.6% yield, while its current payout ratio is a high 115.38%.

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG - Get Free Report) CEO James Labe acquired 44,630 shares of the business's stock in a transaction that occurred on Thursday, August 28th. The shares were bought at an average price of $6.64 per share, with a total value of $296,343.20. Following the completion of the purchase, the chief executive officer owned 423,435 shares in the company, valued at $2,811,608.40. This trade represents a 11.78% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

James Labe also recently made the following trade(s):

• On Friday, August 29th, James Labe acquired 65,000 shares of TriplePoint Venture Growth BDC stock. The shares were bought at an average price of $6.73 per share, with a total value of $437,450.00.
• On Wednesday, August 27th, James Labe acquired 53,160 shares of TriplePoint Venture Growth BDC stock. The shares were bought at an average price of $6.63 per share, with a total value of $352,450.80.
• On Tuesday, August 26th, James Labe acquired 27,988 shares of TriplePoint Venture Growth BDC stock. The shares were bought at an average price of $6.48 per share, with a total value of $181,362.24.
• On Monday, August 25th, James Labe acquired 80,000 shares of TriplePoint Venture Growth BDC stock. The shares were bought at an average price of $6.48 per share, with a total value of $518,400.00.
• On Friday, August 22nd, James Labe purchased 42,003 shares of TriplePoint Venture Growth BDC stock. The stock was acquired at an average price of $6.44 per share, with a total value of $270,499.32.
• On Thursday, August 21st, James Labe purchased 31,000 shares of TriplePoint Venture Growth BDC stock. The stock was acquired at an average price of $6.30 per share, with a total value of $195,300.00.
• On Wednesday, August 20th, James Labe purchased 39,567 shares of TriplePoint Venture Growth BDC stock. The stock was acquired at an average price of $6.20 per share, with a total value of $245,315.40.
• On Tuesday, August 12th, James Labe bought 28,387 shares of TriplePoint Venture Growth BDC stock. The shares were purchased at an average price of $6.28 per share, with a total value of $178,270.36.
• On Monday, August 11th, James Labe bought 76,700 shares of TriplePoint Venture Growth BDC stock. The shares were purchased at an average price of $6.30 per share, with a total value of $483,210.00.

TriplePoint Venture Growth BDC Trading Down 0.5%

NYSE:TPVG traded down $0.04 during midday trading on Tuesday, hitting $6.75. 358,636 shares of the company traded hands, compared to its average volume of 306,440. The firm's fifty day moving average is $6.81 and its 200-day moving average is $6.84. TriplePoint Venture Growth BDC Corp. has a 12-month low of $5.53 and a 12-month high of $8.50. The firm has a market capitalization of $271.96 million, a P/E ratio of 6.49 and a beta of 1.48.

TriplePoint Venture Growth BDC (NYSE:TPVG - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The investment management company reported $0.28 earnings per share 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 company had revenue of $23.28 million for the quarter, compared to analysts' expectations of $23.75 million. On average, research analysts expect that TriplePoint Venture Growth BDC Corp. will post 1.4 EPS for the current fiscal year.

TriplePoint Venture Growth BDC Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 13.6%. The ex-dividend date of this dividend is Tuesday, September 16th. TriplePoint Venture Growth BDC's payout ratio is currently 115.38%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Zacks Research raised shares of TriplePoint Venture Growth BDC to a "strong sell" rating in a research note on Friday, August 8th. UBS Group restated a "neutral" rating and issued a $7.00 target price (up from $6.50) on shares of TriplePoint Venture Growth BDC in a research note on Wednesday, July 16th. Four analysts have rated the stock with a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, TriplePoint Venture Growth BDC currently has an average rating of "Reduce" and a consensus price target of $6.75.

Hedge Funds Weigh In On TriplePoint Venture Growth BDC

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Cambridge Investment Research Advisors Inc. boosted its holdings in TriplePoint Venture Growth BDC by 16.2% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 13,132 shares of the investment management company's stock worth $92,000 after acquiring an additional 1,833 shares in the last quarter. Millennium Management LLC lifted its holdings 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 purchasing an additional 77,551 shares during the period. Bank of America Corp DE raised its position in TriplePoint Venture Growth BDC by 208.5% during the fourth quarter. Bank of America Corp DE now owns 17,122 shares of the investment management company's stock valued at $126,000 after acquiring an additional 11,572 shares in the last quarter. Two Sigma Investments LP raised its position in TriplePoint Venture Growth BDC by 21.9% during 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 in the last quarter. Finally, Alpine Global Management LLC purchased a new stake in shares of TriplePoint Venture Growth BDC in the fourth quarter valued at approximately $477,000. 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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