Insider Buying: TriplePoint Venture Growth BDC (NYSE:TPVG) CEO Buys 26,900 Shares of Stock

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) CEO James Labe acquired 26,900 shares of the business’s stock in a transaction dated Monday, December 22nd. The shares were bought at an average cost of $6.29 per share, for a total transaction of $169,201.00. Following the transaction, the chief executive officer directly owned 1,621,878 shares of the company’s stock, valued at approximately $10,201,612.62. This trade represents a 1.69% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Friday, December 26th, James Labe acquired 31,600 shares of TriplePoint Venture Growth BDC stock. The stock was bought at an average price of $6.30 per share, for a total transaction of $199,080.00.
• On Wednesday, December 24th, James Labe bought 26,756 shares of TriplePoint Venture Growth BDC stock. The shares were bought at an average cost of $6.30 per share, with a total value of $168,562.80.
• On Tuesday, December 23rd, James Labe purchased 31,910 shares of TriplePoint Venture Growth BDC stock. The shares were bought at an average price of $6.29 per share, for a total transaction of $200,713.90.
• On Friday, December 19th, James Labe purchased 29,000 shares of TriplePoint Venture Growth BDC stock. The stock was bought at an average cost of $6.25 per share, for a total transaction of $181,250.00.
• On Thursday, December 18th, James Labe acquired 25,000 shares of TriplePoint Venture Growth BDC stock. The stock was bought at an average price of $6.30 per share, with a total value of $157,500.00.
• On Wednesday, December 17th, James Labe acquired 27,900 shares of TriplePoint Venture Growth BDC stock. The shares were bought at an average cost of $6.19 per share, with a total value of $172,701.00.
• On Tuesday, December 16th, James Labe bought 39,044 shares of TriplePoint Venture Growth BDC stock. The shares were purchased at an average price of $6.18 per share, for a total transaction of $241,291.92.
• On Monday, December 15th, James Labe bought 30,000 shares of TriplePoint Venture Growth BDC stock. The stock was purchased at an average cost of $6.46 per share, for a total transaction of $193,800.00.
• On Friday, December 12th, James Labe purchased 19,919 shares of TriplePoint Venture Growth BDC stock. The stock was purchased at an average price of $6.64 per share, with a total value of $132,262.16.
• On Thursday, December 11th, James Labe purchased 24,590 shares of TriplePoint Venture Growth BDC stock. The shares were purchased at an average price of $6.69 per share, with a total value of $164,507.10.

TriplePoint Venture Growth BDC Stock Performance

Shares of NYSE:TPVG traded up $0.07 during trading hours on Monday, reaching $6.39. The stock had a trading volume of 283,064 shares, compared to its average volume of 332,764. TriplePoint Venture Growth BDC Corp. has a 1 year low of $5.24 and a 1 year high of $8.20. The firm’s 50 day moving average is $6.10 and its 200-day moving average is $6.38. The stock has a market capitalization of $257.99 million, a price-to-earnings ratio of 7.51 and a beta of 1.35.

TriplePoint Venture Growth BDC (NYSE:TPVG) last issued its earnings results on Wednesday, November 5th. The investment management company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.03). The firm 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%. Analysts forecast that TriplePoint Venture Growth BDC Corp. will post 1.4 EPS for the current year.

TriplePoint Venture Growth BDC Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders 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 dividend 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%.

Institutional Trading of TriplePoint Venture Growth BDC

Several institutional investors and hedge funds have recently added to or reduced their stakes in TPVG. Nomura Asset Management Co. Ltd. purchased a new stake in shares of TriplePoint Venture Growth BDC during the second quarter worth approximately $26,000. Quarry LP grew its position in TriplePoint Venture Growth BDC by 53.6% in the 1st quarter. Quarry LP now owns 4,669 shares of the investment management company’s stock valued at $33,000 after buying an additional 1,629 shares during the last quarter. Advisory Services Network LLC acquired a new position in TriplePoint Venture Growth BDC in the 3rd quarter valued at $33,000. Northwestern Mutual Wealth Management Co. purchased a new position in TriplePoint Venture Growth BDC during the 2nd quarter worth $35,000. Finally, HighTower Advisors LLC purchased a new position in TriplePoint Venture Growth BDC during the 1st quarter worth $72,000. 12.77% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on TPVG. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of TriplePoint Venture Growth BDC in a report on Monday, December 22nd. Piper Sandler reduced their price objective on shares of TriplePoint Venture Growth BDC from $7.00 to $6.00 and set a “neutral” rating for the company in a research report on Thursday, October 9th. UBS Group lowered their target price on shares of TriplePoint Venture Growth BDC from $6.50 to $5.50 and set a “neutral” rating for the company in a report 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 report on Monday, December 8th. Finally, Wall Street Zen upgraded shares of TriplePoint Venture Growth BDC from a “sell” rating to a “hold” rating in a research note on Saturday, December 6th. Five investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target 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.