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

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 bought 44,630 shares of the stock in a transaction that occurred on Thursday, August 28th. The shares were purchased at an average cost of $6.64 per share, for a total transaction of $296,343.20. Following the completion of the acquisition, the chief executive officer owned 423,435 shares of the company's stock, valued at $2,811,608.40. This trade represents a 11.78% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.

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

• On Wednesday, September 3rd, James Labe bought 48,800 shares of TriplePoint Venture Growth BDC stock. The shares were purchased at an average cost of $6.77 per share, for a total transaction of $330,376.00.
• On Tuesday, September 2nd, James Labe bought 54,000 shares of TriplePoint Venture Growth BDC stock. The shares were purchased at an average cost of $6.72 per share, for a total transaction of $362,880.00.
• On Friday, August 29th, James Labe bought 65,000 shares of TriplePoint Venture Growth BDC stock. The shares were purchased at an average cost of $6.73 per share, for a total transaction of $437,450.00.
• On Wednesday, August 27th, James Labe bought 53,160 shares of TriplePoint Venture Growth BDC stock. The shares were purchased at an average cost of $6.63 per share, for a total transaction of $352,450.80.
• On Tuesday, August 26th, James Labe bought 27,988 shares of TriplePoint Venture Growth BDC stock. The shares were purchased at an average cost of $6.48 per share, for a total transaction of $181,362.24.
• On Monday, August 25th, James Labe bought 80,000 shares of TriplePoint Venture Growth BDC stock. The shares were purchased at an average cost of $6.48 per share, for a total transaction of $518,400.00.
• On Friday, August 22nd, James Labe bought 42,003 shares of TriplePoint Venture Growth BDC stock. The shares were purchased at an average cost of $6.44 per share, for a total transaction of $270,499.32.
• On Thursday, August 21st, James Labe acquired 31,000 shares of TriplePoint Venture Growth BDC stock. The shares were bought at an average price of $6.30 per share, for a total transaction of $195,300.00.
• On Wednesday, August 20th, James Labe acquired 39,567 shares of TriplePoint Venture Growth BDC stock. The shares were bought at an average price of $6.20 per share, for a total transaction of $245,315.40.
• On Tuesday, August 12th, James Labe acquired 28,387 shares of TriplePoint Venture Growth BDC stock. The shares were bought at an average price of $6.28 per share, for a total transaction of $178,270.36.

TriplePoint Venture Growth BDC Price Performance

NYSE TPVG traded up $0.01 on Friday, hitting $6.81. 229,333 shares of the company were exchanged, compared to its average volume of 372,877. The company's 50 day moving average price is $6.81 and its 200-day moving average price is $6.81. The firm has a market capitalization of $274.58 million, a P/E ratio of 6.55 and a beta of 1.48. TriplePoint Venture Growth BDC Corp. has a twelve month low of $5.53 and a twelve month high of $8.50.

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 EPS for the quarter, missing analysts' consensus estimates of $0.30 by ($0.02). TriplePoint Venture Growth BDC had a return on equity of 13.78% and a net margin of 42.16%.The business had revenue of $23.28 million for the quarter, compared to analyst estimates of $23.75 million. As a group, equities 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. Shareholders 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 dividend on an annualized basis and a yield of 13.5%. TriplePoint Venture Growth BDC's dividend payout ratio (DPR) is presently 115.38%.

Institutional Investors Weigh In On TriplePoint Venture Growth BDC

Institutional investors have recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of TriplePoint Venture Growth BDC by 16.2% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 13,132 shares of the investment management company's stock valued at $92,000 after buying an additional 1,833 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of TriplePoint Venture Growth BDC by 180.1% during the 4th quarter. Millennium Management LLC now owns 120,602 shares of the investment management company's stock valued at $890,000 after buying an additional 77,551 shares during the last quarter. Bank of America Corp DE raised its stake in shares of TriplePoint Venture Growth BDC by 208.5% in the 4th 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 stake in shares of TriplePoint Venture Growth BDC by 21.9% in the 4th 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 bought a new position in shares of TriplePoint Venture Growth BDC in the 4th quarter valued at approximately $477,000. 12.77% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have commented on TPVG. Zacks Research upgraded TriplePoint Venture Growth BDC to a "strong sell" rating in a research report on Friday, August 8th. 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 report on Wednesday, July 16th. Four research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Reduce" and an average price target of $6.75.

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.