Insider Buying: TriplePoint Venture Growth BDC (NYSE:TPVG) CEO Purchases 65,000 Shares of Stock

Key Points

• CEO James Labe of TriplePoint Venture Growth BDC purchased 65,000 shares of stock at an average price of $6.73, increasing his total holdings to approximately $3.29 million.
• The company's stock has underperformed recently, with a 52-week low of $5.53 and a trading volume of 358,636 shares on Tuesday.
• TriplePoint Venture Growth BDC has announced a quarterly dividend of $0.23 per share, reflecting a 13.6% yield, but also a high dividend payout ratio of 115.38%.

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG - Get Free Report) CEO James Labe acquired 65,000 shares of the firm's stock in a transaction that occurred on Friday, August 29th. The stock was purchased at an average cost of $6.73 per share, for a total transaction of $437,450.00. Following the completion of the purchase, the chief executive officer directly owned 488,435 shares of the company's stock, valued at $3,287,167.55. The trade was a 15.35% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Wednesday, September 3rd, James Labe acquired 48,800 shares of TriplePoint Venture Growth BDC stock. The stock was purchased at an average cost of $6.77 per share, for a total transaction of $330,376.00.
• On Tuesday, September 2nd, James Labe acquired 54,000 shares of TriplePoint Venture Growth BDC stock. The stock was purchased at an average cost of $6.72 per share, for a total transaction of $362,880.00.
• On Thursday, August 28th, James Labe acquired 44,630 shares of TriplePoint Venture Growth BDC stock. The stock was purchased at an average cost of $6.64 per share, for a total transaction of $296,343.20.
• On Wednesday, August 27th, James Labe acquired 53,160 shares of TriplePoint Venture Growth BDC stock. The stock was purchased at an average cost of $6.63 per share, for a total transaction of $352,450.80.
• On Tuesday, August 26th, James Labe acquired 27,988 shares of TriplePoint Venture Growth BDC stock. The stock was purchased at an average cost of $6.48 per share, for a total transaction of $181,362.24.
• On Monday, August 25th, James Labe acquired 80,000 shares of TriplePoint Venture Growth BDC stock. The stock was purchased at an average cost of $6.48 per share, for a total transaction of $518,400.00.
• On Friday, August 22nd, James Labe acquired 42,003 shares of TriplePoint Venture Growth BDC stock. The stock was purchased at an average cost of $6.44 per share, for a total transaction of $270,499.32.
• On Thursday, August 21st, James Labe bought 31,000 shares of TriplePoint Venture Growth BDC stock. The shares were bought at an average cost of $6.30 per share, for a total transaction of $195,300.00.
• On Wednesday, August 20th, James Labe bought 39,567 shares of TriplePoint Venture Growth BDC stock. The shares were bought at an average cost of $6.20 per share, for a total transaction of $245,315.40.
• On Tuesday, August 12th, James Labe bought 28,387 shares of TriplePoint Venture Growth BDC stock. The shares were bought at an average cost of $6.28 per share, for a total transaction of $178,270.36.

TriplePoint Venture Growth BDC Stock Up 0.1%

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

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 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, equities research analysts anticipate that TriplePoint Venture Growth BDC Corp. will post 1.4 EPS for the current year.

TriplePoint Venture Growth BDC Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders 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 13.5%. The ex-dividend date of this dividend is Tuesday, September 16th. TriplePoint Venture Growth BDC's payout ratio is presently 115.38%.

Wall Street Analysts Forecast Growth

TPVG has been the topic of several analyst reports. UBS Group reissued a "neutral" rating and issued a $7.00 price objective (up previously from $6.50) on shares of TriplePoint Venture Growth BDC in a research note on Wednesday, July 16th. Zacks Research raised shares of TriplePoint Venture Growth BDC to a "strong sell" rating in a research note on Friday, August 8th. Four investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Reduce" and a consensus price target of $6.75.

Institutional Trading of TriplePoint Venture Growth BDC

A number of institutional investors have recently bought and sold shares of the company. Two Sigma Advisers LP boosted its position in TriplePoint Venture Growth BDC by 6.5% during the fourth quarter. Two Sigma Advisers LP now owns 830,492 shares of the investment management company's stock valued at $6,129,000 after acquiring an additional 50,800 shares during the last quarter. Two Sigma Investments LP boosted 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 during the last quarter. Marshall Wace LLP boosted its position in TriplePoint Venture Growth BDC by 44.9% during the second 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. Legal & General Group Plc boosted its position in TriplePoint Venture Growth BDC by 4.5% during the second 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 during the last quarter. Finally, Millennium Management LLC boosted its position in 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 valued at $890,000 after acquiring an additional 77,551 shares during the last quarter. Institutional investors own 12.77% of the company's stock.

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.