TriplePoint Venture Growth BDC (NYSE:TPVG) Stock Price Passes Above 50 Day Moving Average - What's Next?

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG - Get Free Report) shares crossed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $6.58 and traded as high as $6.81. TriplePoint Venture Growth BDC shares last traded at $6.75, with a volume of 254,329 shares trading hands.

Wall Street Analyst Weigh In

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

TriplePoint Venture Growth BDC Stock Performance

The firm has a market capitalization of $271.35 million, a PE ratio of 7.25 and a beta of 1.47. The company has a fifty day moving average price of $6.58 and a 200-day moving average price of $7.13.

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

TriplePoint Venture Growth BDC Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend 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 large investors have recently modified their holdings of TPVG. Two Sigma Investments LP increased its position in shares of TriplePoint Venture Growth BDC by 21.9% during 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 purchasing an additional 122,039 shares during the last quarter. Millennium Management LLC grew its position in TriplePoint Venture Growth BDC by 180.1% in the 4th 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. Alpine Global Management LLC bought a new position in TriplePoint Venture Growth BDC in the 4th quarter valued at $477,000. Trexquant Investment LP grew its position in TriplePoint Venture Growth BDC by 35.5% in the 4th quarter. Trexquant Investment LP now owns 227,039 shares of the investment management company's stock valued at $1,676,000 after acquiring an additional 59,462 shares during the last quarter. Finally, Cubist Systematic Strategies LLC bought a new position in TriplePoint Venture Growth BDC in the 4th quarter valued at $417,000. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.