James Labe Purchases 47,713 Shares of TriplePoint Venture Growth BDC (NYSE:TPVG) Stock

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) CEO James Labe bought 47,713 shares of the business’s stock in a transaction dated Thursday, December 4th. The stock was purchased at an average price of $6.62 per share, for a total transaction of $315,860.06. Following the acquisition, the chief executive officer directly owned 1,270,479 shares of the company’s stock, valued at approximately $8,410,570.98. The trade was a 3.90% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

James Labe also recently made the following trade(s):

• On Wednesday, December 3rd, James Labe purchased 24,000 shares of TriplePoint Venture Growth BDC stock. The shares were purchased at an average cost of $6.57 per share, with a total value of $157,680.00.
• On Monday, December 1st, James Labe purchased 50,000 shares of TriplePoint Venture Growth BDC stock. The stock was purchased at an average cost of $6.40 per share, for a total transaction of $320,000.00.
• On Monday, November 24th, James Labe acquired 50,000 shares of TriplePoint Venture Growth BDC stock. The shares were purchased at an average cost of $6.31 per share, with a total value of $315,500.00.
• On Friday, November 21st, James Labe bought 39,760 shares of TriplePoint Venture Growth BDC stock. The shares were purchased at an average price of $6.30 per share, with a total value of $250,488.00.
• On Thursday, November 20th, James Labe bought 42,999 shares of TriplePoint Venture Growth BDC stock. The stock was acquired at an average cost of $6.28 per share, for a total transaction of $270,033.72.
• On Wednesday, November 19th, James Labe purchased 50,000 shares of TriplePoint Venture Growth BDC stock. The shares were acquired at an average cost of $6.19 per share, with a total value of $309,500.00.
• On Tuesday, November 18th, James Labe acquired 27,439 shares of TriplePoint Venture Growth BDC stock. The stock was acquired at an average price of $6.06 per share, with a total value of $166,280.34.
• On Monday, November 17th, James Labe bought 44,648 shares of TriplePoint Venture Growth BDC stock. The shares were acquired at an average cost of $6.06 per share, for a total transaction of $270,566.88.
• On Friday, November 14th, James Labe purchased 46,700 shares of TriplePoint Venture Growth BDC stock. The stock was acquired at an average cost of $5.99 per share, with a total value of $279,733.00.
• On Wednesday, November 12th, James Labe purchased 50,000 shares of TriplePoint Venture Growth BDC stock. The stock was bought at an average price of $5.95 per share, for a total transaction of $297,500.00.

TriplePoint Venture Growth BDC Price Performance

TriplePoint Venture Growth BDC stock traded up $0.17 during mid-day trading on Friday, reaching $6.81. 287,552 shares of the company traded hands, compared to its average volume of 325,144. The firm’s 50 day moving average price is $5.83 and its 200 day moving average price is $6.45. TriplePoint Venture Growth BDC Corp. has a 52-week low of $5.24 and a 52-week high of $8.33. The firm has a market capitalization of $275.12 million, a price-to-earnings ratio of 8.01 and a beta of 1.35.

TriplePoint Venture Growth BDC (NYSE:TPVG) last announced its earnings results on Wednesday, November 5th. The investment management company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.03). TriplePoint Venture Growth BDC had a net margin of 36.02% and a return on equity of 12.88%. The company had revenue of $22.66 million for the quarter, compared to the consensus estimate of $24.22 million. On average, sell-side analysts anticipate that TriplePoint Venture Growth BDC Corp. will post 1.4 EPS for the current year.

TriplePoint Venture Growth BDC Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Tuesday, December 16th will be given a $0.23 dividend. The ex-dividend date of this dividend is Tuesday, December 16th. This represents a $0.92 annualized dividend and a dividend yield of 13.5%. TriplePoint Venture Growth BDC’s dividend payout ratio is currently 108.24%.

Analysts Set New Price Targets

Several research firms recently weighed in on TPVG. Weiss Ratings restated a “sell (d+)” rating on shares of TriplePoint Venture Growth BDC in a research report on Monday. UBS Group dropped their target price on shares of 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 downgraded shares of TriplePoint Venture Growth BDC from a “hold” rating to a “strong sell” rating in a research report on Friday, November 7th. Wall Street Zen cut shares of TriplePoint Venture Growth BDC from a “hold” rating to a “sell” rating in a research report on Saturday, November 22nd. Finally, Piper Sandler dropped their price objective on shares of 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. Four investment analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, TriplePoint Venture Growth BDC presently has an average rating of “Reduce” and a consensus target price of $6.25.

Hedge Funds Weigh In On TriplePoint Venture Growth BDC

Several large investors have recently modified their holdings of TPVG. Nomura Asset Management Co. Ltd. bought a new position in TriplePoint Venture Growth BDC in the 2nd quarter worth about $26,000. Quarry LP raised its holdings in TriplePoint Venture Growth BDC by 53.6% in the first quarter. Quarry LP now owns 4,669 shares of the investment management company’s stock worth $33,000 after buying an additional 1,629 shares during the last quarter. Advisory Services Network LLC bought a new position in shares of TriplePoint Venture Growth BDC in the third quarter worth approximately $33,000. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of TriplePoint Venture Growth BDC during the second quarter valued at approximately $35,000. Finally, HighTower Advisors LLC bought a new stake in shares of TriplePoint Venture Growth BDC during the first quarter valued at approximately $72,000. Hedge funds and other institutional investors own 12.77% of the company’s stock.

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.