TriplePoint Venture Growth BDC Corp. (NYSE:TPVG - Get Free Report) passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $6.83 and traded as low as $6.74. TriplePoint Venture Growth BDC shares last traded at $6.79, with a volume of 250,366 shares changing hands.
Analyst Ratings Changes
Several analysts have issued reports on TPVG shares. Zacks Research raised TriplePoint Venture Growth BDC to a "strong sell" rating in a research report on Friday, August 8th. UBS Group reissued a "neutral" rating and issued a $7.00 price objective (up previously from $6.50) on shares of TriplePoint Venture Growth BDC in a research report on Wednesday, July 16th. Four research analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Reduce" and an average target price of $6.75.
Check Out Our Latest Report on TPVG
TriplePoint Venture Growth BDC Stock Performance
The stock has a market cap of $272.19 million, a PE ratio of 6.49 and a beta of 1.48. The company has a 50 day moving average of $6.80 and a two-hundred day moving average of $6.79.
TriplePoint Venture Growth BDC (NYSE:TPVG - Get Free Report) last posted 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). TriplePoint Venture Growth BDC had a return on equity of 13.78% and a net margin of 42.16%.The firm had revenue of $23.28 million during the quarter, compared to analyst estimates of $23.75 million. As a group, equities research analysts anticipate that TriplePoint Venture Growth BDC Corp. will post 1.4 EPS for the current year.
TriplePoint Venture Growth BDC Cuts Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 13.6%. The ex-dividend date is Tuesday, September 16th. TriplePoint Venture Growth BDC's payout ratio is currently 88.46%.
Insider Activity at TriplePoint Venture Growth BDC
In related news, insider Sajal Srivastava bought 80,000 shares of the stock in a transaction dated Monday, August 25th. The shares were acquired at an average cost of $6.48 per share, for a total transaction of $518,400.00. Following the acquisition, the insider directly owned 297,657 shares in the company, valued at approximately $1,928,817.36. This trade represents a 36.76% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO James Labe bought 80,000 shares of the stock in a transaction dated Monday, August 25th. The shares were bought at an average price of $6.48 per share, for a total transaction of $518,400.00. Following the completion of the acquisition, the chief executive officer owned 297,657 shares in the company, valued at approximately $1,928,817.36. The trade was a 36.76% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 1,292,100 shares of company stock worth $8,437,508. Insiders own 1.46% of the company's stock.
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in TPVG. Nomura Asset Management Co. Ltd. acquired a new position in TriplePoint Venture Growth BDC in the second quarter valued at approximately $26,000. Quarry LP raised its position in TriplePoint Venture Growth BDC by 53.6% in the first quarter. Quarry LP now owns 4,669 shares of the investment management company's stock valued at $33,000 after purchasing an additional 1,629 shares during the period. Northwestern Mutual Wealth Management Co. purchased a new stake in TriplePoint Venture Growth BDC in the second quarter valued at approximately $35,000. Private Advisor Group LLC purchased a new stake in TriplePoint Venture Growth BDC in the first quarter valued at approximately $72,000. Finally, HighTower Advisors LLC purchased a new stake in TriplePoint Venture Growth BDC in the first quarter valued at approximately $72,000. 12.77% of the stock is currently owned by institutional investors and hedge funds.
TriplePoint Venture Growth BDC Company Profile
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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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