TriplePoint Venture Growth BDC Corp. (NYSE:TPVG – Get Rating) Director Cynthia M. Fornelli bought 1,000 shares of the stock in a transaction dated Friday, September 9th. The stock was purchased at an average cost of $13.35 per share, for a total transaction of $13,350.00. Following the acquisition, the director now owns 5,540 shares in the company, valued at approximately $73,959. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
TriplePoint Venture Growth BDC Trading Down 0.2 %
NYSE TPVG traded down $0.03 on Monday, hitting $13.44. 228,182 shares of the company were exchanged, compared to its average volume of 196,912. The firm has a 50 day moving average of $13.40 and a two-hundred day moving average of $14.83. The company has a market cap of $417.14 million, a P/E ratio of 9.42 and a beta of 1.68. TriplePoint Venture Growth BDC Corp. has a 1-year low of $11.86 and a 1-year high of $19.25.
TriplePoint Venture Growth BDC (NYSE:TPVG – Get Rating) last issued its quarterly earnings results on Wednesday, August 3rd. The investment management company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.04. The business had revenue of $27.43 million for the quarter, compared to the consensus estimate of $24.48 million. TriplePoint Venture Growth BDC had a net margin of 43.80% and a return on equity of 11.53%. During the same quarter in the prior year, the company earned $0.30 EPS. Research analysts anticipate that TriplePoint Venture Growth BDC Corp. will post 1.67 EPS for the current fiscal year.
TriplePoint Venture Growth BDC Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Thursday, September 15th will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Wednesday, September 14th. This represents a $1.44 dividend on an annualized basis and a yield of 10.71%. TriplePoint Venture Growth BDC’s payout ratio is presently 100.70%.
Analysts Set New Price Targets
Several equities research analysts have recently weighed in on the stock. TheStreet lowered shares of TriplePoint Venture Growth BDC from a “b-” rating to a “c” rating in a report on Tuesday, August 23rd. Piper Sandler lowered their target price on shares of TriplePoint Venture Growth BDC from $19.00 to $16.00 and set an “overweight” rating on the stock in a report on Tuesday, June 28th. Finally, StockNews.com lowered shares of TriplePoint Venture Growth BDC from a “hold” rating to a “sell” rating in a report on Tuesday, August 23rd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $17.19.
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in TPVG. Captrust Financial Advisors acquired a new position in TriplePoint Venture Growth BDC during the 2nd quarter valued at about $25,000. BNP Paribas Arbitrage SA acquired a new stake in shares of TriplePoint Venture Growth BDC in the 2nd quarter valued at approximately $36,000. Lazard Asset Management LLC acquired a new stake in shares of TriplePoint Venture Growth BDC in the 1st quarter valued at approximately $39,000. Steward Partners Investment Advisory LLC raised its position in shares of TriplePoint Venture Growth BDC by 1,451.3% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 6,174 shares of the investment management company’s stock valued at $79,000 after acquiring an additional 5,776 shares during the period. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of TriplePoint Venture Growth BDC in the 2nd quarter valued at approximately $118,000. 22.15% of the stock is currently owned by institutional investors and hedge funds.
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.
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