TriplePoint Venture Growth BDC (NYSE:TPVG) Share Price Crosses Above Fifty Day Moving Average - Here's Why

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG - Get Free Report) shares passed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $6.47 and traded as high as $7.36. TriplePoint Venture Growth BDC shares last traded at $7.22, with a volume of 449,344 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on TPVG shares. Compass Point reduced their price objective on shares of TriplePoint Venture Growth BDC from $8.00 to $7.25 and set a "neutral" rating for the company in a research report on Tuesday, March 18th. Wells Fargo & Company reduced their target price on shares of TriplePoint Venture Growth BDC from $6.50 to $5.50 and set an "underweight" rating for the company in a report on Monday, April 28th. Keefe, Bruyette & Woods lowered their price target on shares of TriplePoint Venture Growth BDC from $7.50 to $7.00 and set a "market perform" rating on the stock in a report on Tuesday, April 8th. UBS Group cut their price objective on shares of TriplePoint Venture Growth BDC from $7.50 to $6.00 and set a "neutral" rating for the company in a research report on Thursday, April 17th. Finally, Piper Sandler decreased their target price on TriplePoint Venture Growth BDC from $8.00 to $7.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating and six have given a hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $6.79.

TriplePoint Venture Growth BDC Price Performance

The business's 50-day moving average is $6.51 and its 200 day moving average is $7.18. The firm has a market capitalization of $271.31 million, a P/E ratio of 7.25 and a beta of 1.47.

TriplePoint Venture Growth BDC (NYSE:TPVG - Get Free Report) last announced its earnings results on Wednesday, May 7th. The investment management company reported $0.27 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.30 by ($0.03). TriplePoint Venture Growth BDC had a return on equity of 14.12% and a net margin of 36.10%. The business had revenue of $22.45 million for the quarter, compared to analyst estimates of $24.90 million. Analysts anticipate that TriplePoint Venture Growth BDC Corp. will post 1.4 EPS for the current fiscal year.

TriplePoint Venture Growth BDC Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 17.79%. The ex-dividend date is Monday, June 16th. TriplePoint Venture Growth BDC's dividend payout ratio is currently 129.03%.

Hedge Funds Weigh In On TriplePoint Venture Growth BDC

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TPVG. Quarry LP grew its holdings in shares of TriplePoint Venture Growth BDC by 53.6% during the 1st quarter. Quarry LP now owns 4,669 shares of the investment management company's stock worth $33,000 after purchasing an additional 1,629 shares in the last quarter. Summit Securities Group LLC bought a new stake in TriplePoint Venture Growth BDC during the fourth quarter worth about $41,000. Avenir Corp acquired a new stake in TriplePoint Venture Growth BDC during the fourth quarter worth about $74,000. EverSource Wealth Advisors LLC grew its stake in TriplePoint Venture Growth BDC by 25.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 10,000 shares of the investment management company's stock worth $74,000 after buying an additional 2,000 shares in the last quarter. Finally, HighTower Advisors LLC bought a new position in TriplePoint Venture Growth BDC in the 1st quarter valued at about $72,000. 12.77% of the stock is owned by institutional investors and hedge funds.

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.