TriplePoint Venture Growth BDC (NYSE:TPVG) Shares Pass Above 50-Day Moving Average - Here's What Happened

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.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Keefe, Bruyette & Woods lowered their target price on shares of TriplePoint Venture Growth BDC from $7.50 to $7.00 and set a "market perform" rating on the stock in a research report on Tuesday, April 8th. Piper Sandler lowered their target price on shares of 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. Wells Fargo & Company lowered their target price on shares of TriplePoint Venture Growth BDC from $6.50 to $5.50 and set an "underweight" rating on the stock in a research report on Monday, April 28th. UBS Group lowered their target price on shares of TriplePoint Venture Growth BDC from $7.50 to $6.00 and set a "neutral" rating on the stock in a research report on Thursday, April 17th. Finally, Compass Point lowered their target price on shares of TriplePoint Venture Growth BDC from $8.00 to $7.25 and set a "neutral" rating on the stock in a research 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.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $6.79.

TriplePoint Venture Growth BDC Stock Up 0.7%

The business has a fifty day simple moving average of $6.64 and a 200 day simple moving average of $7.10. The company has a market cap of $280.44 million, a price-to-earnings ratio of 7.50 and a beta of 1.47.

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 EPS for the quarter, missing analysts' consensus estimates of $0.30 by ($0.03). TriplePoint Venture Growth BDC had a net margin of 36.10% and a return on equity of 14.12%. The business had revenue of $22.45 million during the quarter, compared to analyst estimates of $24.90 million. Equities 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 company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 17.21%. The ex-dividend date is Monday, June 16th. TriplePoint Venture Growth BDC's dividend payout ratio (DPR) is presently 129.03%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Jane Street Group LLC raised its stake in TriplePoint Venture Growth BDC by 28.1% in the 1st quarter. Jane Street Group LLC now owns 67,693 shares of the investment management company's stock valued at $472,000 after purchasing an additional 14,865 shares during the last quarter. PharVision Advisers LLC grew its holdings in shares of TriplePoint Venture Growth BDC by 15.7% during the 1st quarter. PharVision Advisers LLC now owns 13,193 shares of the investment management company's stock worth $92,000 after purchasing an additional 1,789 shares during the period. 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 during the period. Samalin Investment Counsel LLC grew its holdings in shares of TriplePoint Venture Growth BDC by 16.1% during the 1st quarter. Samalin Investment Counsel LLC now owns 81,906 shares of the investment management company's stock worth $572,000 after purchasing an additional 11,364 shares during the period. Finally, Ethos Financial Group LLC purchased a new position in TriplePoint Venture Growth BDC in the 1st quarter worth approximately $176,000. Institutional investors and hedge funds 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.