TriplePoint Venture Growth BDC (NYSE:TPVG) Share Price Passes Below Two Hundred Day Moving Average of $8.71

Shares of TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $8.71 and traded as low as $7.12. TriplePoint Venture Growth BDC shares last traded at $7.23, with a volume of 340,105 shares traded.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on TPVG shares. LADENBURG THALM/SH SH lowered TriplePoint Venture Growth BDC from a “buy” rating to a “neutral” rating and dropped their target price for the company from $8.50 to $8.00 in a report on Friday, August 9th. Keefe, Bruyette & Woods dropped their price objective on TriplePoint Venture Growth BDC from $9.00 to $8.00 and set an “underperform” rating on the stock in a report on Friday, August 9th. Piper Sandler cut their price objective on shares of TriplePoint Venture Growth BDC from $9.50 to $8.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Finally, Wells Fargo & Company reissued an “underweight” rating and issued a $8.50 target price (down from $9.50) on shares of TriplePoint Venture Growth BDC in a report on Wednesday, May 29th. Three analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $8.25.

TriplePoint Venture Growth BDC Stock Down 4.3 %

The business’s fifty day moving average is $7.87 and its 200 day moving average is $8.70. The stock has a market cap of $277.25 million, a PE ratio of -6.25 and a beta of 1.79.

TriplePoint Venture Growth BDC (NYSE:TPVG) last issued its quarterly earnings data on Wednesday, August 7th. The investment management company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.10). TriplePoint Venture Growth BDC had a positive return on equity of 18.24% and a negative net margin of 8.03%. The business had revenue of $27.11 million for the quarter, compared to analysts’ expectations of $28.77 million. During the same period last year, the business earned $0.53 earnings per share. As a group, analysts predict that TriplePoint Venture Growth BDC Corp. will post 1.4 EPS for the current year.

TriplePoint Venture Growth BDC Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be issued a dividend of $0.30 per share. The ex-dividend date is Monday, September 16th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 17.29%. TriplePoint Venture Growth BDC’s dividend payout ratio (DPR) is presently -108.11%.

Insiders Place Their Bets

In related news, President Sajal Srivastava purchased 11,298 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was purchased at an average price of $7.02 per share, with a total value of $79,311.96. Following the completion of the transaction, the president now owns 250,858 shares of the company’s stock, valued at approximately $1,761,023.16. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.01% of the company’s stock.

Institutional Investors Weigh In On TriplePoint Venture Growth BDC

Several institutional investors have recently bought and sold shares of the business. Dynamic Technology Lab Private Ltd purchased a new stake in shares of TriplePoint Venture Growth BDC in the fourth quarter worth about $133,000. Cape Investment Advisory Inc. purchased a new position in TriplePoint Venture Growth BDC in the 4th quarter worth approximately $79,000. Steward Partners Investment Advisory LLC grew its position in TriplePoint Venture Growth BDC by 41.7% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 27,303 shares of the investment management company’s stock valued at $297,000 after acquiring an additional 8,029 shares in the last quarter. Quarry LP raised its stake in shares of TriplePoint Venture Growth BDC by 43.7% during the fourth quarter. Quarry LP now owns 3,143 shares of the investment management company’s stock valued at $34,000 after purchasing an additional 956 shares during the period. Finally, Quadrature Capital Ltd acquired a new position in shares of TriplePoint Venture Growth BDC during the fourth quarter worth $655,000. 12.77% of the stock is currently owned by hedge funds and other institutional investors.

About TriplePoint Venture Growth BDC

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.