Insider Buying: TriplePoint Venture Growth BDC (NYSE:TPVG) CEO Buys $200,713.90 in Stock

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) CEO James Labe bought 31,910 shares of the firm’s stock in a transaction that occurred on Tuesday, December 23rd. The stock was purchased at an average cost of $6.29 per share, with a total value of $200,713.90. Following the completion of the purchase, the chief executive officer directly owned 1,653,788 shares of the company’s stock, valued at $10,402,326.52. This represents a 1.97% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Friday, December 26th, James Labe purchased 31,600 shares of TriplePoint Venture Growth BDC stock. The shares were purchased at an average cost of $6.30 per share, for a total transaction of $199,080.00.
• On Wednesday, December 24th, James Labe purchased 26,756 shares of TriplePoint Venture Growth BDC stock. The stock was purchased at an average price of $6.30 per share, with a total value of $168,562.80.
• On Monday, December 22nd, James Labe acquired 26,900 shares of TriplePoint Venture Growth BDC stock. The stock was purchased at an average cost of $6.29 per share, with a total value of $169,201.00.
• On Friday, December 19th, James Labe bought 29,000 shares of TriplePoint Venture Growth BDC stock. The stock was purchased at an average cost of $6.25 per share, for a total transaction of $181,250.00.
• On Thursday, December 18th, James Labe bought 25,000 shares of TriplePoint Venture Growth BDC stock. The stock was purchased at an average price of $6.30 per share, with a total value of $157,500.00.
• On Wednesday, December 17th, James Labe purchased 27,900 shares of TriplePoint Venture Growth BDC stock. The shares were acquired at an average price of $6.19 per share, with a total value of $172,701.00.
• On Tuesday, December 16th, James Labe purchased 39,044 shares of TriplePoint Venture Growth BDC stock. The shares were acquired at an average cost of $6.18 per share, for a total transaction of $241,291.92.
• On Monday, December 15th, James Labe acquired 30,000 shares of TriplePoint Venture Growth BDC stock. The stock was acquired at an average price of $6.46 per share, for a total transaction of $193,800.00.
• On Friday, December 12th, James Labe bought 19,919 shares of TriplePoint Venture Growth BDC stock. The shares were acquired at an average price of $6.64 per share, with a total value of $132,262.16.
• On Thursday, December 11th, James Labe bought 24,590 shares of TriplePoint Venture Growth BDC stock. The shares were acquired at an average cost of $6.69 per share, for a total transaction of $164,507.10.

TriplePoint Venture Growth BDC Stock Performance

TPVG traded up $0.07 during trading hours on Monday, reaching $6.39. The company’s stock had a trading volume of 283,064 shares, compared to its average volume of 332,764. The company’s 50-day moving average is $6.10 and its 200-day moving average is $6.38. TriplePoint Venture Growth BDC Corp. has a 52 week low of $5.24 and a 52 week high of $8.20. The firm has a market cap of $257.99 million, a PE ratio of 7.52 and a beta of 1.35.

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

TriplePoint Venture Growth BDC Dividend Announcement

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 $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 14.4%. The ex-dividend date of this dividend is Tuesday, December 16th. TriplePoint Venture Growth BDC’s dividend payout ratio is currently 108.24%.

Hedge Funds Weigh In On TriplePoint Venture Growth BDC

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Advisory Services Network LLC bought a new position in shares of TriplePoint Venture Growth BDC in the third quarter worth $33,000. CANADA LIFE ASSURANCE Co grew its stake in TriplePoint Venture Growth BDC by 35.5% during the third quarter. CANADA LIFE ASSURANCE Co now owns 51,515 shares of the investment management company’s stock worth $296,000 after buying an additional 13,490 shares in the last quarter. Verition Fund Management LLC increased its holdings in TriplePoint Venture Growth BDC by 14.1% in the 3rd quarter. Verition Fund Management LLC now owns 22,677 shares of the investment management company’s stock valued at $131,000 after buying an additional 2,800 shares during the period. Millennium Management LLC bought a new position in TriplePoint Venture Growth BDC in the 3rd quarter valued at about $134,000. Finally, Brevan Howard Capital Management LP acquired a new position in shares of TriplePoint Venture Growth BDC in the 3rd quarter valued at approximately $165,000. 12.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on TPVG. Weiss Ratings restated a “sell (d+)” rating on shares of TriplePoint Venture Growth BDC in a report on Monday, December 22nd. Zacks Research raised TriplePoint Venture Growth BDC from a “strong sell” rating to a “hold” rating in a report on Monday, December 8th. UBS Group decreased their price objective 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. Wall Street Zen upgraded TriplePoint Venture Growth BDC from a “sell” rating to a “hold” rating in a research report on Saturday, December 6th. Finally, Piper Sandler dropped their target price on 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. Five equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus target price of $6.25.

TriplePoint Venture Growth BDC Company Profile

TriplePoint Venture Growth BDC Inc is a closed-end management investment company externally managed by TriplePoint Capital LLC. The firm specializes in providing customized debt and equity financing to growth-stage, venture capital– and private equity–backed companies. Its financing solutions include senior secured loans, unitranche facilities, subordinated debt and selective equity co-investments tailored to support expansion, working capital needs and strategic initiatives.

Launched in September 2018 and listed on the New York Stock Exchange under the symbol TPVG, TriplePoint Venture Growth BDC leverages the deep industry expertise and established underwriting capabilities of TriplePoint Capital, a venture lender since 2003.