TriplePoint Venture Growth BDC (NYSE:TPVG) CEO James Labe Acquires 42,003 Shares

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) CEO James Labe purchased 42,003 shares of the business’s stock in a transaction dated Friday, August 22nd. The shares were acquired at an average cost of $6.44 per share, for a total transaction of $270,499.32. Following the acquisition, the chief executive officer owned 217,657 shares of the company’s stock, valued at approximately $1,401,711.08. The trade was a 23.91% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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

• On Monday, August 25th, James Labe purchased 80,000 shares of TriplePoint Venture Growth BDC stock. The shares were acquired at an average cost of $6.48 per share, for a total transaction of $518,400.00.
• On Thursday, August 21st, James Labe purchased 31,000 shares of TriplePoint Venture Growth BDC stock. The shares were acquired at an average cost of $6.30 per share, for a total transaction of $195,300.00.
• On Wednesday, August 20th, James Labe purchased 39,567 shares of TriplePoint Venture Growth BDC stock. The shares were acquired at an average cost of $6.20 per share, for a total transaction of $245,315.40.
• On Tuesday, August 12th, James Labe purchased 28,387 shares of TriplePoint Venture Growth BDC stock. The shares were acquired at an average cost of $6.28 per share, for a total transaction of $178,270.36.
• On Monday, August 11th, James Labe purchased 76,700 shares of TriplePoint Venture Growth BDC stock. The shares were acquired at an average cost of $6.30 per share, for a total transaction of $483,210.00.

TriplePoint Venture Growth BDC Trading Up 2.2%

TPVG opened at $6.63 on Thursday. The business’s 50 day moving average is $6.81 and its 200-day moving average is $6.87. The stock has a market cap of $267.12 million, a PE ratio of 6.37 and a beta of 1.46. TriplePoint Venture Growth BDC Corp. has a twelve month low of $5.53 and a twelve month high of $8.50.

TriplePoint Venture Growth BDC (NYSE:TPVG) last released its quarterly earnings results on Wednesday, August 6th. The investment management company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.02). The business had revenue of $23.28 million for the quarter, compared to the consensus estimate of $23.75 million. TriplePoint Venture Growth BDC had a net margin of 42.16% and a return on equity of 13.78%. As a group, analysts forecast that TriplePoint Venture Growth BDC Corp. will post 1.4 EPS for the current year.

TriplePoint Venture Growth BDC Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be issued a dividend of $0.23 per share. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $0.92 annualized dividend and a yield of 13.9%. TriplePoint Venture Growth BDC’s payout ratio is presently 115.38%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on TPVG shares. Zacks Research raised TriplePoint Venture Growth BDC to a “strong sell” rating in a report on Friday, August 8th. UBS Group reissued a “neutral” rating and set a $7.00 target price (up previously from $6.50) on shares of TriplePoint Venture Growth BDC in a report on Wednesday, July 16th. Four analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, TriplePoint Venture Growth BDC currently has an average rating of “Reduce” and an average price target of $6.75.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Nomura Asset Management Co. Ltd. bought a new position in shares of TriplePoint Venture Growth BDC in the second quarter valued at $26,000. Quarry LP increased its holdings in shares of 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 valued at $33,000 after buying an additional 1,629 shares in the last quarter. Northwestern Mutual Wealth Management Co. bought a new position in shares of TriplePoint Venture Growth BDC in the second quarter valued at $35,000. HighTower Advisors LLC bought a new position in shares of TriplePoint Venture Growth BDC in the first quarter valued at $72,000. Finally, Private Advisor Group LLC bought a new position in shares of TriplePoint Venture Growth BDC in the first quarter valued at $72,000. Institutional investors own 12.77% of the company’s stock.

About TriplePoint Venture Growth BDC

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.