TriplePoint Venture Growth BDC (NYSE:TPVG) Stock Crosses Above 50-Day Moving Average – Here’s What Happened

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) shares crossed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $5.22 and traded as high as $5.77. TriplePoint Venture Growth BDC shares last traded at $5.7450, with a volume of 379,279 shares trading hands.

Analyst Upgrades and Downgrades

Several analysts have commented on TPVG shares. Keefe, Bruyette & Woods decreased their price target on shares of TriplePoint Venture Growth BDC from $7.00 to $6.50 and set a “market perform” rating on the stock in a research note on Thursday, March 5th. Zacks Research cut TriplePoint Venture Growth BDC from a “hold” rating to a “strong sell” rating in a report on Thursday, April 16th. Weiss Ratings downgraded TriplePoint Venture Growth BDC from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, March 12th. Wells Fargo & Company dropped their price target on TriplePoint Venture Growth BDC from $5.50 to $5.00 and set an “underweight” rating for the company in a research note on Thursday, March 5th. Finally, Piper Sandler reduced their price objective on TriplePoint Venture Growth BDC from $6.00 to $5.50 and set a “neutral” rating on the stock in a research note on Tuesday, April 7th. Three investment analysts have rated the stock with a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus target price of $5.63.

TriplePoint Venture Growth BDC Stock Performance

The business’s fifty day moving average price is $5.22 and its two-hundred day moving average price is $5.80. The stock has a market capitalization of $233.25 million, a P/E ratio of 5.42 and a beta of 1.28.

TriplePoint Venture Growth BDC (NYSE:TPVG) last announced its earnings results on Wednesday, May 6th. The investment management company reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.02). The business had revenue of $19.81 million for the quarter, compared to analysts’ expectations of $23.14 million. TriplePoint Venture Growth BDC had a net margin of 46.77% and a return on equity of 11.54%. As a group, analysts forecast that TriplePoint Venture Growth BDC Corp. will post 0.94 earnings per share for the current year.

TriplePoint Venture Growth BDC Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 16.0%. The ex-dividend date of this dividend is Tuesday, June 16th. TriplePoint Venture Growth BDC’s dividend payout ratio (DPR) is presently 86.79%.

Hedge Funds Weigh In On TriplePoint Venture Growth BDC

Several large investors have recently modified their holdings of TPVG. Kovack Advisors Inc. lifted its stake in TriplePoint Venture Growth BDC by 4.4% in the third quarter. Kovack Advisors Inc. now owns 52,519 shares of the investment management company’s stock worth $303,000 after purchasing an additional 2,200 shares during the last quarter. CANADA LIFE ASSURANCE Co grew its stake in shares of TriplePoint Venture Growth BDC by 4.4% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 53,793 shares of the investment management company’s stock valued at $351,000 after buying an additional 2,278 shares during the last quarter. Verition Fund Management LLC grew its stake in shares of TriplePoint Venture Growth BDC by 14.1% during the third 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 last quarter. O Shaughnessy Asset Management LLC raised its holdings in shares of TriplePoint Venture Growth BDC by 13.8% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 24,152 shares of the investment management company’s stock worth $158,000 after buying an additional 2,921 shares during the period. Finally, Rockefeller Capital Management L.P. raised its holdings in shares of TriplePoint Venture Growth BDC by 75.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 7,000 shares of the investment management company’s stock worth $46,000 after buying an additional 3,000 shares during the period. Institutional investors 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.