Insider Buying: TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) Insider Buys 76,700 Shares of Stock

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) insider Sajal Srivastava acquired 76,700 shares of the company’s stock in a transaction that occurred on Monday, August 11th. The shares were acquired at an average price of $6.30 per share, for a total transaction of $483,210.00. Following the purchase, the insider owned 76,700 shares of the company’s stock, valued at $483,210. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Sajal Srivastava also recently made the following trade(s):

• On Tuesday, August 12th, Sajal Srivastava bought 28,387 shares of TriplePoint Venture Growth BDC stock. The stock was purchased at an average price of $6.28 per share, with a total value of $178,270.36.

TriplePoint Venture Growth BDC Stock Performance

Shares of NYSE:TPVG opened at $6.34 on Thursday. The company has a market cap of $255.63 million, a PE ratio of 6.10 and a beta of 1.46. TriplePoint Venture Growth BDC Corp. has a 52 week low of $5.53 and a 52 week high of $8.50. The firm has a 50 day simple moving average of $6.96 and a 200 day simple moving average of $6.98.

TriplePoint Venture Growth BDC (NYSE:TPVG) last issued its quarterly earnings results on Wednesday, August 6th. The investment management company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.02). TriplePoint Venture Growth BDC had a net margin of 42.16% and a return on equity of 13.78%. The firm had revenue of $23.28 million during the quarter, compared to analysts’ expectations of $23.75 million. On average, equities analysts predict that TriplePoint Venture Growth BDC Corp. will post 1.4 earnings per share 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. Shareholders of record on Tuesday, September 16th will be given a $0.23 dividend. The ex-dividend date is Tuesday, September 16th. This represents a $0.92 dividend on an annualized basis and a yield of 14.5%. TriplePoint Venture Growth BDC’s dividend payout ratio is presently 115.38%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. UBS Group restated a “neutral” rating and issued a $7.00 target price (up previously from $6.50) on shares of TriplePoint Venture Growth BDC in a research report on Wednesday, July 16th. Wells Fargo & Company decreased their price objective on shares of TriplePoint Venture Growth BDC from $6.50 to $5.50 and set an “underweight” rating for the company in a report on Monday, April 28th. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. According to data from MarketBeat.com, TriplePoint Venture Growth BDC presently has an average rating of “Hold” and a consensus price target of $6.75.

Institutional Investors Weigh In On TriplePoint Venture Growth BDC

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Nomura Asset Management Co. Ltd. bought a new position in shares of TriplePoint Venture Growth BDC during the 2nd quarter valued at $26,000. Quarry LP raised its holdings in shares of TriplePoint Venture Growth BDC by 53.6% during the 1st 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 in the last quarter. Northwestern Mutual Wealth Management Co. bought a new position in shares of TriplePoint Venture Growth BDC during the 2nd quarter valued at $35,000. Private Advisor Group LLC bought a new position in shares of TriplePoint Venture Growth BDC during the 1st quarter valued at $72,000. Finally, HighTower Advisors LLC bought a new position in shares of TriplePoint Venture Growth BDC during the 1st quarter valued at $72,000. Hedge funds and other institutional investors own 12.77% of the company’s stock.

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.