TriplePoint Venture Growth BDC (NYSE:TPVG) Announces Quarterly Earnings Results, Misses Expectations By $0.03 EPS

TriplePoint Venture Growth BDC (NYSE:TPVG) posted its quarterly earnings data on Wednesday. The investment management company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.03), Zacks reports. TriplePoint Venture Growth BDC had a return on equity of 13.78% and a net margin of 42.16%.The company had revenue of $22.66 million during the quarter, compared to analyst estimates of $24.22 million.

TriplePoint Venture Growth BDC Stock Up 3.8%

TPVG stock traded up $0.21 during midday trading on Thursday, hitting $5.75. 81,907 shares of the company traded hands, compared to its average volume of 312,334. TriplePoint Venture Growth BDC has a twelve month low of $5.24 and a twelve month high of $8.50. The business has a 50 day simple moving average of $5.96 and a 200-day simple moving average of $6.46. The stock has a market capitalization of $231.84 million, a price-to-earnings ratio of 5.53 and a beta of 1.47.

TriplePoint Venture Growth BDC Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Tuesday, December 16th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 16.0%. The ex-dividend date is Tuesday, December 16th. TriplePoint Venture Growth BDC’s dividend payout ratio (DPR) is 88.46%.

Insider Buying and Selling at TriplePoint Venture Growth BDC

In related news, insider Sajal Srivastava acquired 48,800 shares of the stock in a transaction dated Wednesday, September 3rd. The shares were acquired at an average price of $6.77 per share, for a total transaction of $330,376.00. Following the completion of the purchase, the insider owned 591,235 shares in the company, valued at approximately $4,002,660.95. The trade was a 9.00% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO James Labe acquired 48,800 shares of the stock in a transaction dated Wednesday, September 3rd. The stock was bought at an average price of $6.77 per share, for a total transaction of $330,376.00. Following the purchase, the chief executive officer owned 591,235 shares of the company’s stock, valued at $4,002,660.95. The trade was a 9.00% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders bought 1,292,100 shares of company stock worth $8,437,508. 1.46% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Marshall Wace LLP raised its holdings in TriplePoint Venture Growth BDC by 44.9% during the 2nd quarter. Marshall Wace LLP now owns 529,201 shares of the investment management company’s stock worth $3,710,000 after purchasing an additional 163,916 shares during the last quarter. Jane Street Group LLC raised its holdings in TriplePoint Venture Growth BDC by 7.3% during the 2nd quarter. Jane Street Group LLC now owns 72,663 shares of the investment management company’s stock worth $509,000 after purchasing an additional 4,970 shares during the last quarter. Osaic Holdings Inc. raised its holdings in TriplePoint Venture Growth BDC by 75.6% during the 2nd quarter. Osaic Holdings Inc. now owns 35,945 shares of the investment management company’s stock worth $252,000 after purchasing an additional 15,478 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. bought a new stake in TriplePoint Venture Growth BDC during the 2nd quarter worth about $35,000. Institutional investors and hedge funds own 12.77% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on TPVG. Piper Sandler cut their price target on shares of TriplePoint Venture Growth BDC from $7.00 to $6.00 and set a “neutral” rating for the company in a report on Thursday, October 9th. UBS Group reduced their price objective on shares of 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. Zacks Research raised shares of TriplePoint Venture Growth BDC from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 7th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of TriplePoint Venture Growth BDC in a research note on Wednesday, October 8th. Six investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus target price of $6.25.

TriplePoint Venture Growth BDC Company Profile

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.