TriplePoint Venture Growth BDC (NYSE:TPVG) CEO James Labe Purchases 65,000 Shares

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 stock in a transaction on Friday, August 29th. The stock was bought at an average price of $6.73 per share, with a total value of $437,450.00. Following the transaction, the chief executive officer directly owned 488,435 shares of the company's stock, valued at approximately $3,287,167.55. The trade was a 15.35% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Thursday, August 28th, James Labe purchased 44,630 shares of TriplePoint Venture Growth BDC stock. The shares were purchased at an average cost of $6.64 per share, with a total value of $296,343.20.
• On Wednesday, August 27th, James Labe bought 53,160 shares of TriplePoint Venture Growth BDC stock. The shares were acquired at an average price of $6.63 per share, with a total value of $352,450.80.
• On Tuesday, August 26th, James Labe purchased 27,988 shares of TriplePoint Venture Growth BDC stock. The stock was acquired 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 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 bought 42,003 shares of TriplePoint Venture Growth BDC stock. The shares were acquired 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 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 stock was purchased at an average price of $6.20 per share, with a total value of $245,315.40.
• On Tuesday, August 12th, James Labe purchased 28,387 shares of TriplePoint Venture Growth BDC stock. The stock was bought at an average cost of $6.28 per share, for a total transaction of $178,270.36.
• On Monday, August 11th, James Labe bought 76,700 shares of TriplePoint Venture Growth BDC stock. The shares were acquired at an average cost of $6.30 per share, with a total value of $483,210.00.

TriplePoint Venture Growth BDC Stock Performance

Shares of NYSE:TPVG traded down $0.04 during trading on Tuesday, hitting $6.75. The company's stock had a trading volume of 358,636 shares, compared to its average volume of 306,440. TriplePoint Venture Growth BDC Corp. has a fifty-two week low of $5.53 and a fifty-two week high of $8.50. The business has a 50 day moving average price of $6.81 and a two-hundred day moving average price of $6.84. The company has a market capitalization of $271.96 million, a PE ratio of 6.49 and a beta of 1.48.

TriplePoint Venture Growth BDC (NYSE:TPVG - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The investment management company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.02). The business had revenue of $23.28 million during the quarter, compared to analyst estimates of $23.75 million. TriplePoint Venture Growth BDC had a return on equity of 13.78% and a net margin of 42.16%. As a group, equities analysts expect 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 firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 13.6%. The ex-dividend date of this dividend is Tuesday, September 16th. TriplePoint Venture Growth BDC's dividend payout ratio (DPR) is presently 115.38%.

Institutional Trading of TriplePoint Venture Growth BDC

Large investors have recently modified their holdings of the stock. Raymond James Financial Inc. purchased a new position in TriplePoint Venture Growth BDC in the fourth quarter valued at approximately $267,000. Northern Trust Corp grew its stake in TriplePoint Venture Growth BDC by 29.5% in the 4th quarter. Northern Trust Corp now owns 31,176 shares of the investment management company's stock valued at $230,000 after buying an additional 7,098 shares in the last quarter. Bank of America Corp DE grew its stake in 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 buying an additional 11,572 shares in the last quarter. Balyasny Asset Management L.P. purchased a new position in TriplePoint Venture Growth BDC in the 4th quarter valued at approximately $227,000. Finally, Cubist Systematic Strategies LLC purchased a new position in TriplePoint Venture Growth BDC in the 4th quarter valued at approximately $417,000. Institutional investors and hedge funds own 12.77% of the company's stock.

Analysts Set New Price Targets

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

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.

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