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

Key Points

• Shares of TriplePoint Venture Growth BDC crossed above their 50-day moving average of $5.21, trading as high as $5.24 on Monday with volume of 414,548 and a last trade of $5.1250.
• Analysts have trimmed targets and ratings in recent weeks, leaving a consensus rating of "Reduce" and a $5.63 average price target after multiple downgrades (three Hold, three Sell).
• The company recently paid a quarterly dividend that annualizes to $0.92, representing a 18.0% yield with a dividend payout ratio of about 74.8%, signaling a high income yield but elevated payout levels.

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG - Get Free Report) shares crossed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $5.21 and traded as high as $5.24. TriplePoint Venture Growth BDC shares last traded at $5.1250, with a volume of 414,548 shares trading hands.

Analysts Set New Price Targets

Several analysts have commented on the company. Wells Fargo & Company cut their target price on TriplePoint Venture Growth BDC from $5.50 to $5.00 and set an "underweight" rating on the stock in a research note on Thursday, March 5th. Keefe, Bruyette & Woods cut their target price on TriplePoint Venture Growth BDC from $7.00 to $6.50 and set a "market perform" rating on the stock in a research note on Thursday, March 5th. Zacks Research downgraded TriplePoint Venture Growth BDC from a "hold" rating to a "strong sell" rating in a research note on Thursday, April 16th. Piper Sandler cut their target price on TriplePoint Venture Growth BDC from $6.00 to $5.50 and set a "neutral" rating on the stock in a research note on Tuesday, April 7th. Finally, Weiss Ratings downgraded TriplePoint Venture Growth BDC from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Thursday, March 12th. Three analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, TriplePoint Venture Growth BDC has an average rating of "Reduce" and a consensus price target of $5.63.

TriplePoint Venture Growth BDC Stock Performance

The firm has a fifty day moving average price of $5.21 and a two-hundred day moving average price of $5.80. The stock has a market capitalization of $207.51 million, a P/E ratio of 4.17 and a beta of 1.32.

TriplePoint Venture Growth BDC (NYSE:TPVG - Get Free Report) last released its quarterly earnings results on Wednesday, March 4th. The investment management company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.01). The firm had revenue of $3.42 million for the quarter, compared to the consensus estimate of $23.78 million. TriplePoint Venture Growth BDC had a net margin of 54.12% and a return on equity of 12.04%. On average, research analysts anticipate that TriplePoint Venture Growth BDC Corp. will post 0.95 earnings per share for the current fiscal year.

TriplePoint Venture Growth BDC Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 18.0%. The ex-dividend date of this dividend was Tuesday, March 17th. TriplePoint Venture Growth BDC's dividend payout ratio (DPR) is currently 74.80%.

Hedge Funds Weigh In On TriplePoint Venture Growth BDC

A number of institutional investors have recently bought and sold shares of TPVG. Two Sigma Investments LP raised its holdings in TriplePoint Venture Growth BDC by 58.6% in the 3rd quarter. Two Sigma Investments LP now owns 612,727 shares of the investment management company's stock worth $3,535,000 after purchasing an additional 226,479 shares during the period. Marshall Wace LLP raised its holdings in TriplePoint Venture Growth BDC by 44.9% in the 2nd quarter. Marshall Wace LLP now owns 529,201 shares of the investment management company's stock worth $3,710,000 after purchasing an additional 163,916 shares during the period. Norden Group LLC raised its holdings in TriplePoint Venture Growth BDC by 150.1% in the 4th quarter. Norden Group LLC now owns 174,090 shares of the investment management company's stock worth $1,139,000 after purchasing an additional 104,492 shares during the period. Trexquant Investment LP raised its holdings in TriplePoint Venture Growth BDC by 48.1% in the 4th quarter. Trexquant Investment LP now owns 190,996 shares of the investment management company's stock worth $1,249,000 after purchasing an additional 62,023 shares during the period. Finally, XTX Topco Ltd bought a new position in TriplePoint Venture Growth BDC in the 4th quarter worth $354,000. 12.77% of the stock is owned by institutional investors.

About TriplePoint Venture Growth BDC

TriplePoint Venture Growth BDC Inc is a closed-end management investment company externally managed by TriplePoint Capital LLC. The firm specializes in providing customized debt and equity financing to growth-stage, venture capital– and private equity–backed companies. Its financing solutions include senior secured loans, unitranche facilities, subordinated debt and selective equity co-investments tailored to support expansion, working capital needs and strategic initiatives.

Launched in September 2018 and listed on the New York Stock Exchange under the symbol TPVG, TriplePoint Venture Growth BDC leverages the deep industry expertise and established underwriting capabilities of TriplePoint Capital, a venture lender since 2003.

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