Key Points
- James Labe, CEO of TriplePoint Venture Growth BDC, purchased 44,648 shares on Nov. 17 at $6.06, bringing his direct stake to 808,700 shares after multiple recent buys and increasing his ownership by 5.84%.
- The company announced a quarterly dividend of $0.23 per share (ex-dividend Dec. 16, payable Dec. 30), representing a 14.8% yield and a payout ratio of 108.24%.
- TPVG missed quarterly expectations with $0.26 EPS and revenue below estimates, and analysts hold a consensus rating of "Reduce" with a $6.25 price target after several downgrades.
TriplePoint Venture Growth BDC Corp. (NYSE:TPVG - Get Free Report) CEO James Labe purchased 27,439 shares of the business's stock in a transaction that occurred on Tuesday, November 18th. The stock was bought at an average price of $6.06 per share, for a total transaction of $166,280.34. Following the purchase, the chief executive officer directly owned 836,139 shares in the company, valued at $5,067,002.34. The trade was a 3.39% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
James Labe also recently made the following trade(s):
- On Monday, November 17th, James Labe bought 44,648 shares of TriplePoint Venture Growth BDC stock. The stock was bought at an average cost of $6.06 per share, for a total transaction of $270,566.88.
- On Friday, November 14th, James Labe acquired 46,700 shares of TriplePoint Venture Growth BDC stock. The shares were purchased at an average cost of $5.99 per share, for a total transaction of $279,733.00.
- On Wednesday, November 12th, James Labe purchased 50,000 shares of TriplePoint Venture Growth BDC stock. The shares were purchased at an average cost of $5.95 per share, with a total value of $297,500.00.
- On Tuesday, November 11th, James Labe purchased 26,117 shares of TriplePoint Venture Growth BDC stock. The stock was acquired at an average price of $5.76 per share, with a total value of $150,433.92.
- On Wednesday, September 3rd, James Labe bought 48,800 shares of TriplePoint Venture Growth BDC stock. The shares were bought at an average price of $6.77 per share, for a total transaction of $330,376.00.
- On Tuesday, September 2nd, James Labe acquired 54,000 shares of TriplePoint Venture Growth BDC stock. The shares were bought at an average cost of $6.72 per share, with a total value of $362,880.00.
- On Friday, August 29th, James Labe acquired 65,000 shares of TriplePoint Venture Growth BDC stock. The shares were bought at an average price of $6.73 per share, for a total transaction of $437,450.00.
- On Thursday, August 28th, James Labe purchased 44,630 shares of TriplePoint Venture Growth BDC stock. The shares were purchased at an average cost of $6.64 per share, for a total transaction of $296,343.20.
- On Wednesday, August 27th, James Labe acquired 53,160 shares of TriplePoint Venture Growth BDC stock. The shares were purchased at an average price of $6.63 per share, with a total value of $352,450.80.
- On Tuesday, August 26th, James Labe purchased 27,988 shares of TriplePoint Venture Growth BDC stock. The shares were purchased at an average price of $6.48 per share, with a total value of $181,362.24.
TriplePoint Venture Growth BDC Price Performance
Shares of NYSE:TPVG traded up $0.19 during trading on Thursday, hitting $6.32. The company's stock had a trading volume of 75,309 shares, compared to its average volume of 318,498. The company has a 50-day moving average of $5.79 and a 200-day moving average of $6.44. The firm has a market cap of $255.33 million, a price-to-earnings ratio of 7.44 and a beta of 1.47. TriplePoint Venture Growth BDC Corp. has a 12 month low of $5.24 and a 12 month high of $8.50.
TriplePoint Venture Growth BDC (NYSE:TPVG - Get Free Report) last issued its quarterly earnings results on Wednesday, November 5th. The investment management company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.03). The firm had revenue of $22.66 million for the quarter, compared to analysts' expectations of $24.22 million. TriplePoint Venture Growth BDC had a net margin of 36.02% and a return on equity of 12.88%. As a group, research analysts anticipate that TriplePoint Venture Growth BDC Corp. will post 1.4 earnings per share for the current year.
TriplePoint Venture Growth BDC Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Tuesday, December 16th will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 14.6%. The ex-dividend date of this dividend is Tuesday, December 16th. TriplePoint Venture Growth BDC's dividend payout ratio (DPR) is presently 108.24%.
Analyst Ratings Changes
TPVG has been the topic of several recent research reports. UBS Group decreased their price target on TriplePoint Venture Growth BDC from $6.50 to $5.50 and set a "neutral" rating on the stock in a report on Tuesday, October 14th. Zacks Research lowered shares of TriplePoint Venture Growth BDC from a "hold" rating to a "strong sell" rating in a research report on Friday, November 7th. Piper Sandler cut their target price on TriplePoint Venture Growth BDC from $7.00 to $6.00 and set a "neutral" rating on the stock in a research note on Thursday, October 9th. Finally, Weiss Ratings restated a "sell (d+)" rating on shares of TriplePoint Venture Growth BDC in a report on Thursday, November 13th. Four equities research analysts have rated the stock with a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Reduce" and an average target price of $6.25.
Check Out Our Latest Research Report on TPVG
Hedge Funds Weigh In On TriplePoint Venture Growth BDC
Institutional investors have recently made changes to their positions in the company. Private Advisor Group LLC purchased a new stake in TriplePoint Venture Growth BDC in the first quarter worth about $72,000. Y Intercept Hong Kong Ltd purchased a new stake in shares of TriplePoint Venture Growth BDC in the 1st quarter worth approximately $109,000. Norden Group LLC boosted its stake in shares of TriplePoint Venture Growth BDC by 60.4% during the first quarter. Norden Group LLC now owns 41,688 shares of the investment management company's stock valued at $291,000 after purchasing an additional 15,690 shares in the last quarter. Townsquare Capital LLC increased its holdings in TriplePoint Venture Growth BDC by 20.6% during the first quarter. Townsquare Capital LLC now owns 102,318 shares of the investment management company's stock valued at $714,000 after buying an additional 17,445 shares during the period. Finally, HighTower Advisors LLC bought a new position in TriplePoint Venture Growth BDC in the first quarter worth approximately $72,000. Hedge funds and other institutional investors own 12.77% of the company's stock.
About TriplePoint Venture Growth BDC
(
Get Free Report)
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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