Key Points
- Sajal Srivastava purchased 39,760 shares on Nov. 21 at $6.30 and has made multiple large buys in November, bringing his total stake to 968,898 shares (valued at ~ $6.1M) after a reported 4.28% increase in that filing.
- TriplePoint announced a quarterly dividend of $0.23 per share (annualized $0.92) implying a 14.4% yield; the ex-dividend and record date is Dec. 16 and the dividend is payable Dec. 30.
- The company missed Q3 estimates with EPS of $0.26 vs. $0.29 expected and revenue of $22.66M vs. $24.22M, and analysts hold a consensus "Reduce" rating with an average target of about $6.25; market cap is roughly $258M and P/E is 7.51.
TriplePoint Venture Growth BDC Corp. (NYSE:TPVG - Get Free Report) insider Sajal Srivastava purchased 39,760 shares of the business's stock in a transaction dated Friday, November 21st. The shares were acquired at an average cost of $6.30 per share, for a total transaction of $250,488.00. Following the acquisition, the insider owned 968,898 shares of the company's stock, valued at approximately $6,104,057.40. The trade was a 4.28% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Sajal Srivastava also recently made the following trade(s):
- On Monday, November 24th, Sajal Srivastava bought 50,000 shares of TriplePoint Venture Growth BDC stock. The stock was acquired at an average price of $6.31 per share, for a total transaction of $315,500.00.
- On Thursday, November 20th, Sajal Srivastava acquired 42,999 shares of TriplePoint Venture Growth BDC stock. The stock was bought at an average cost of $6.28 per share, with a total value of $270,033.72.
- On Wednesday, November 19th, Sajal Srivastava purchased 50,000 shares of TriplePoint Venture Growth BDC stock. The stock was bought at an average cost of $6.19 per share, with a total value of $309,500.00.
- On Tuesday, November 18th, Sajal Srivastava bought 27,439 shares of TriplePoint Venture Growth BDC stock. The stock was purchased at an average price of $6.06 per share, with a total value of $166,280.34.
- On Monday, November 17th, Sajal Srivastava acquired 44,648 shares of TriplePoint Venture Growth BDC stock. The stock was purchased at an average price of $6.06 per share, with a total value of $270,566.88.
- On Friday, November 14th, Sajal Srivastava acquired 46,700 shares of TriplePoint Venture Growth BDC stock. The shares were acquired at an average price of $5.99 per share, with a total value of $279,733.00.
- On Wednesday, November 12th, Sajal Srivastava acquired 50,000 shares of TriplePoint Venture Growth BDC stock. The stock was acquired at an average cost of $5.95 per share, for a total transaction of $297,500.00.
- On Tuesday, November 11th, Sajal Srivastava bought 26,117 shares of TriplePoint Venture Growth BDC stock. The stock was acquired at an average price of $5.76 per share, for a total transaction of $150,433.92.
- On Wednesday, September 3rd, Sajal Srivastava bought 48,800 shares of TriplePoint Venture Growth BDC stock. The shares were acquired at an average price of $6.77 per share, with a total value of $330,376.00.
- On Tuesday, September 2nd, Sajal Srivastava bought 54,000 shares of TriplePoint Venture Growth BDC stock. The stock was bought at an average price of $6.72 per share, for a total transaction of $362,880.00.
TriplePoint Venture Growth BDC Stock Up 1.5%
Shares of NYSE TPVG opened at $6.39 on Wednesday. TriplePoint Venture Growth BDC Corp. has a 12 month low of $5.24 and a 12 month high of $8.50. The company has a market cap of $257.95 million, a price-to-earnings ratio of 7.51 and a beta of 1.47. The business has a fifty day simple moving average of $5.77 and a 200-day simple moving average of $6.45.
TriplePoint Venture Growth BDC (NYSE:TPVG - Get Free Report) last posted its quarterly earnings data on Wednesday, November 5th. The investment management company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.03). The company had revenue of $22.66 million for the quarter, compared to analyst estimates of $24.22 million. TriplePoint Venture Growth BDC had a return on equity of 12.88% and a net margin of 36.02%. As a group, sell-side analysts expect that TriplePoint Venture Growth BDC Corp. will post 1.4 EPS for the current fiscal year.
TriplePoint Venture Growth BDC Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Tuesday, December 16th will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 14.4%. The ex-dividend date is Tuesday, December 16th. TriplePoint Venture Growth BDC's payout ratio is presently 108.24%.
Institutional Inflows and Outflows
Several hedge funds have recently bought and sold shares of the company. Two Sigma Investments LP raised its stake in shares of TriplePoint Venture Growth BDC by 58.6% during the 3rd quarter. Two Sigma Investments LP now owns 612,727 shares of the investment management company's stock worth $3,535,000 after purchasing an additional 226,479 shares in the last quarter. Marshall Wace LLP increased its holdings in TriplePoint Venture Growth BDC by 44.9% in the second quarter. Marshall Wace LLP now owns 529,201 shares of the investment management company's stock worth $3,710,000 after buying an additional 163,916 shares during the last quarter. Meridian Wealth Management LLC acquired a new position in TriplePoint Venture Growth BDC in the third quarter worth approximately $173,000. Aquatic Capital Management LLC raised its position in TriplePoint Venture Growth BDC by 251.3% during the third quarter. Aquatic Capital Management LLC now owns 41,137 shares of the investment management company's stock valued at $237,000 after acquiring an additional 29,427 shares in the last quarter. Finally, Brevan Howard Capital Management LP acquired a new stake in TriplePoint Venture Growth BDC in the third quarter valued at approximately $165,000. 12.77% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several analysts have issued reports on TPVG shares. Wall Street Zen downgraded shares of TriplePoint Venture Growth BDC from a "hold" rating to a "sell" rating in a research note on Saturday. Zacks Research lowered TriplePoint Venture Growth BDC from a "hold" rating to a "strong sell" rating in a research report on Friday, November 7th. UBS Group reduced their price objective on TriplePoint Venture Growth BDC from $6.50 to $5.50 and set a "neutral" rating for the company in a research note on Tuesday, October 14th. Weiss Ratings restated a "sell (d+)" rating on shares of TriplePoint Venture Growth BDC in a research report on Wednesday, November 19th. Finally, Piper Sandler dropped their target price on TriplePoint Venture Growth BDC from $7.00 to $6.00 and set a "neutral" rating on the stock in a report on Thursday, October 9th. Four research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, TriplePoint Venture Growth BDC currently has a consensus rating of "Reduce" and an average target price of $6.25.
Get Our Latest Stock Analysis on TriplePoint Venture Growth BDC
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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