TriplePoint Venture Growth BDC (NYSE:TPVG) Stock Price Passes Below Two Hundred Day Moving Average – Time to Sell?

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $6.06 and traded as low as $5.16. TriplePoint Venture Growth BDC shares last traded at $5.1750, with a volume of 462,823 shares trading hands.

Analyst Upgrades and Downgrades

TPVG has been the topic of a number of research reports. Wall Street Zen upgraded shares of TriplePoint Venture Growth BDC from a “sell” rating to a “hold” rating in a research report on Saturday, December 6th. Keefe, Bruyette & Woods reduced their price target on shares of TriplePoint Venture Growth BDC from $7.00 to $6.50 and set a “market perform” rating for the company in a research report on Thursday, March 5th. Wells Fargo & Company lowered their price objective on shares of TriplePoint Venture Growth BDC from $5.50 to $5.00 and set an “underweight” rating on the stock in a research report on Thursday, March 5th. Zacks Research upgraded shares of TriplePoint Venture Growth BDC from a “strong sell” rating to a “hold” rating in a research note on Monday, December 8th. Finally, Weiss Ratings cut shares of TriplePoint Venture Growth BDC from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday. Five investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $6.05.

TriplePoint Venture Growth BDC Stock Performance

The company has a market cap of $206.71 million, a PE ratio of 4.15 and a beta of 1.37. The stock’s 50-day simple moving average is $5.90 and its 200 day simple moving average is $6.05.

TriplePoint Venture Growth BDC (NYSE:TPVG) last issued its earnings results on Wednesday, March 4th. The investment management company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.01). TriplePoint Venture Growth BDC had a net margin of 54.12% and a return on equity of 12.04%. The firm had revenue of $3.42 million during the quarter, compared to analysts’ expectations of $23.78 million. On average, sell-side analysts predict that TriplePoint Venture Growth BDC Corp. will post 1.4 EPS for the current fiscal year.

TriplePoint Venture Growth BDC Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 18.0%. The ex-dividend date of this dividend is Tuesday, March 17th. TriplePoint Venture Growth BDC’s payout ratio is currently 74.80%.

Insider Activity at TriplePoint Venture Growth BDC

In other TriplePoint Venture Growth BDC news, insider Sajal Srivastava bought 40,000 shares of the business’s stock in a transaction dated Monday, January 5th. The stock was acquired at an average cost of $6.70 per share, with a total value of $268,000.00. Following the purchase, the insider owned 1,876,980 shares in the company, valued at approximately $12,575,766. This represents a 2.18% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO James Labe purchased 40,000 shares of TriplePoint Venture Growth BDC stock in a transaction dated Monday, January 5th. The stock was acquired at an average cost of $6.70 per share, with a total value of $268,000.00. Following the completion of the acquisition, the chief executive officer directly owned 1,876,980 shares in the company, valued at approximately $12,575,766. This trade represents a 2.18% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have acquired a total of 1,079,282 shares of company stock worth $6,927,706 in the last quarter. 1.46% of the stock is currently owned by insiders.

Institutional Investors Weigh In On TriplePoint Venture Growth BDC

A number of hedge funds and other institutional investors have recently bought and sold shares of TPVG. Nomura Asset Management Co. Ltd. purchased a new stake in shares of TriplePoint Venture Growth BDC during the 2nd quarter worth $26,000. Advisory Services Network LLC acquired a new stake in shares of TriplePoint Venture Growth BDC in the third quarter valued at about $33,000. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of TriplePoint Venture Growth BDC in the second quarter valued at about $35,000. Farmers & Merchants Investments Inc. boosted its holdings in TriplePoint Venture Growth BDC by 221.7% during the fourth quarter. Farmers & Merchants Investments Inc. now owns 10,293 shares of the investment management company’s stock worth $67,000 after buying an additional 7,093 shares in the last quarter. Finally, AXQ Capital LP purchased a new stake in TriplePoint Venture Growth BDC during the fourth quarter worth about $72,000. Institutional investors and hedge funds own 12.77% of the company’s stock.

About TriplePoint Venture Growth BDC

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.