TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) Director Cynthia M. Fornelli Acquires 1,000 Shares of Stock

TriplePoint Venture Growth BDC Corp. (NYSE:TPVGGet Rating) Director Cynthia M. Fornelli acquired 1,000 shares of the company’s stock in a transaction that occurred on Friday, September 9th. The shares were bought at an average price of $13.35 per share, for a total transaction of $13,350.00. Following the completion of the acquisition, the director now owns 5,540 shares of the company’s stock, valued at $73,959. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink.

TriplePoint Venture Growth BDC Price Performance

TriplePoint Venture Growth BDC stock opened at $13.44 on Tuesday. The company has a market cap of $417.18 million, a price-to-earnings ratio of 9.40 and a beta of 1.68. The firm has a 50-day moving average of $13.41 and a 200-day moving average of $14.81. TriplePoint Venture Growth BDC Corp. has a one year low of $11.86 and a one year high of $19.25.

TriplePoint Venture Growth BDC (NYSE:TPVGGet Rating) last issued its quarterly earnings results on Wednesday, August 3rd. The investment management company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.37 by $0.04. The firm had revenue of $27.43 million during the quarter, compared to analysts’ expectations of $24.48 million. TriplePoint Venture Growth BDC had a return on equity of 11.53% and a net margin of 43.80%. During the same period in the prior year, the firm posted $0.30 earnings per share. As a group, sell-side analysts expect that TriplePoint Venture Growth BDC Corp. will post 1.67 earnings per share for the current year.

TriplePoint Venture Growth BDC Dividend Announcement

The company also recently declared 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. This represents a $1.44 annualized dividend and a yield of 10.71%. The ex-dividend date is Wednesday, September 14th. TriplePoint Venture Growth BDC’s dividend payout ratio (DPR) is currently 100.70%.

Analyst Ratings Changes

Several analysts have issued reports on TPVG shares. StockNews.com downgraded TriplePoint Venture Growth BDC from a “hold” rating to a “sell” rating in a research note on Tuesday, August 23rd. Piper Sandler dropped their target price on TriplePoint Venture Growth BDC from $19.00 to $16.00 and set an “overweight” rating on the stock in a research report on Tuesday, June 28th. Finally, TheStreet downgraded TriplePoint Venture Growth BDC from a “b-” rating to a “c” rating in a research report on Tuesday, August 23rd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $17.19.

Institutional Trading of TriplePoint Venture Growth BDC

A number of large investors have recently added to or reduced their stakes in TPVG. Captrust Financial Advisors acquired a new stake in TriplePoint Venture Growth BDC during the 2nd quarter valued at $25,000. BNP Paribas Arbitrage SA acquired a new position in TriplePoint Venture Growth BDC in the 2nd quarter valued at about $36,000. Lazard Asset Management LLC bought a new position in TriplePoint Venture Growth BDC in the 1st quarter valued at about $39,000. Steward Partners Investment Advisory LLC boosted its holdings in shares of TriplePoint Venture Growth BDC by 1,451.3% during the second quarter. Steward Partners Investment Advisory LLC now owns 6,174 shares of the investment management company’s stock worth $79,000 after acquiring an additional 5,776 shares during the period. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of TriplePoint Venture Growth BDC in the second quarter valued at approximately $118,000. Institutional investors and hedge funds own 22.15% of the company’s stock.

About TriplePoint Venture Growth BDC

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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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