TriplePoint Venture Growth BDC (NYSE:TPVG) Shares Cross Below 200-Day Moving Average – Here’s What Happened

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG)’s stock price passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $6.26 and traded as low as $5.63. TriplePoint Venture Growth BDC shares last traded at $5.6650, with a volume of 425,232 shares traded.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on TPVG shares. Weiss Ratings downgraded TriplePoint Venture Growth BDC from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, January 26th. Wall Street Zen upgraded TriplePoint Venture Growth BDC from a “sell” rating to a “hold” rating in a research report on Saturday, December 6th. Zacks Research upgraded shares of TriplePoint Venture Growth BDC from a “strong sell” rating to a “hold” rating in a research report on Monday, December 8th. Finally, UBS Group lowered their price objective on shares of TriplePoint Venture Growth BDC from $6.50 to $5.50 and set a “neutral” rating on the stock in a research note on Tuesday, October 14th. Five research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus price target of $6.25.

TriplePoint Venture Growth BDC Stock Performance

The business has a 50-day moving average of $6.40 and a 200 day moving average of $6.25. The stock has a market cap of $231.09 million, a PE ratio of 6.73 and a beta of 1.36.

TriplePoint Venture Growth BDC (NYSE:TPVG) last issued its quarterly earnings results on Wednesday, November 5th. The investment management company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.03). The business 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 expect that TriplePoint Venture Growth BDC Corp. will post 1.4 EPS for the current fiscal year.

Insider Buying and Selling at TriplePoint Venture Growth BDC

In other news, insider Sajal Srivastava acquired 50,000 shares of the business’s stock in a transaction dated Wednesday, November 19th. The shares were bought at an average cost of $6.19 per share, for a total transaction of $309,500.00. Following the acquisition, the insider directly owned 886,139 shares in the company, valued at $5,485,200.41. This trade represents a 5.98% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO James Labe acquired 50,000 shares of TriplePoint Venture Growth BDC stock in a transaction dated Wednesday, November 12th. The stock was purchased at an average cost of $5.95 per share, for a total transaction of $297,500.00. Following the completion of the purchase, the chief executive officer directly owned 717,352 shares in the company, valued at approximately $4,268,244.40. This represents a 7.49% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased a total of 2,316,934 shares of company stock worth $14,747,460 over the last ninety days. Corporate insiders own 1.46% of the company’s stock.

Institutional Investors Weigh In On TriplePoint Venture Growth BDC

A number of large investors have recently modified their holdings of TPVG. Nomura Asset Management Co. Ltd. acquired a new position in TriplePoint Venture Growth BDC during the 2nd quarter worth $26,000. Advisory Services Network LLC bought a new position in shares of TriplePoint Venture Growth BDC during the third quarter worth about $33,000. Northwestern Mutual Wealth Management Co. acquired a new position in TriplePoint Venture Growth BDC in the second quarter worth about $35,000. Farmers & Merchants Investments Inc. increased its holdings in TriplePoint Venture Growth BDC by 221.7% in the fourth quarter. Farmers & Merchants Investments Inc. now owns 10,293 shares of the investment management company’s stock valued at $67,000 after buying an additional 7,093 shares during the last quarter. Finally, Bluefin Capital Management LLC bought a new stake in TriplePoint Venture Growth BDC in the second quarter valued at about $105,000. Institutional investors and hedge funds own 12.77% of the company’s stock.

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.