Insider Buying: TriplePoint Venture Growth BDC (NYSE:TPVG) CEO Purchases $1,478,304.15 in Stock

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) CEO James Labe acquired 313,865 shares of TriplePoint Venture Growth BDC stock in a transaction that occurred on Friday, September 18th. The stock was bought at an average price of $4.71 per share, for a total transaction of $1,478,304.15. Following the completion of the acquisition, the chief executive officer owned 2,312,354 shares in the company, valued at $10,891,187.34. This trade represents a 15.71% increase in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

TriplePoint Venture Growth BDC Price Performance

Shares of TPVG stock opened at $4.82 on Friday. The firm has a market cap of $196.02 million, a PE ratio of 4.86 and a beta of 1.31. The company has a 50-day moving average of $5.04 and a two-hundred day moving average of $5.15. TriplePoint Venture Growth BDC Corp. has a 1-year low of $4.39 and a 1-year high of $6.95.

TriplePoint Venture Growth BDC (NYSE:TPVG) last released its quarterly earnings results on Wednesday, August 5th. The investment management company reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.02. TriplePoint Venture Growth BDC had a net margin of 44.58% and a return on equity of 10.68%. The business had revenue of $22.15 million for the quarter, compared to the consensus estimate of $22.88 million. Sell-side analysts anticipate that TriplePoint Venture Growth BDC Corp. will post 0.94 EPS for the current fiscal year.

TriplePoint Venture Growth BDC Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 30th. Investors of record on Wednesday, December 16th will be issued a $0.06 dividend. This is a drop from TriplePoint Venture Growth BDC’s previous quarterly dividend of $0.29. The ex-dividend date is Wednesday, December 16th. This represents a $0.24 annualized dividend and a yield of 5.0%. TriplePoint Venture Growth BDC’s payout ratio is 92.93%.

Analyst Ratings Changes

Several research firms have recently commented on TPVG. Keefe, Bruyette & Woods lowered their price target on TriplePoint Venture Growth BDC from $6.00 to $5.50 and set a “market perform” rating for the company in a research report on Thursday, August 6th. Piper Sandler dropped their price objective on TriplePoint Venture Growth BDC from $5.50 to $5.00 and set a “neutral” rating for the company in a research note on Monday, July 13th. Finally, Weiss Ratings upgraded TriplePoint Venture Growth BDC from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, September 16th. Five analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus target price of $5.25.

Institutional Investors Weigh In On TriplePoint Venture Growth BDC

Large investors have recently added to or reduced their stakes in the business. Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its stake in TriplePoint Venture Growth BDC by 19.9% in the second quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 14,659 shares of the investment management company’s stock valued at $72,000 after buying an additional 2,435 shares during the last quarter. Rockefeller Capital Management L.P. boosted its holdings in shares of TriplePoint Venture Growth BDC by 75.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 7,000 shares of the investment management company’s stock valued at $46,000 after acquiring an additional 3,000 shares during the period. Summit Securities Group LLC grew its position in shares of TriplePoint Venture Growth BDC by 257.1% during the first quarter. Summit Securities Group LLC now owns 5,000 shares of the investment management company’s stock worth $25,000 after acquiring an additional 3,600 shares during the last quarter. Cetera Investment Advisers grew its position in shares of TriplePoint Venture Growth BDC by 15.7% during the first quarter. Cetera Investment Advisers now owns 54,299 shares of the investment management company’s stock worth $271,000 after acquiring an additional 7,355 shares during the last quarter. Finally, AXQ Capital LP acquired a new position in shares of TriplePoint Venture Growth BDC in the 4th quarter valued at $72,000. 12.77% of the stock is owned by hedge funds and other institutional investors.

About TriplePoint Venture Growth BDC

TriplePoint Venture Growth BDC Corp. is a business development company that provides financing to venture growth-stage companies. The company primarily supports businesses backed by venture capital or private equity investors, offering capital to help fund expansion, acquisitions, working capital needs and other corporate purposes.

TriplePoint Venture Growth typically invests through secured loans, including term loans and other forms of debt financing. It may also receive warrants or make equity investments in portfolio companies, allowing it to participate in their potential growth.