TriplePoint Venture Growth BDC (NYSE:TPVG) Share Price Passes Above 50 Day Moving Average – Should You Sell?

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) shares crossed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $5.40 and traded as high as $5.53. TriplePoint Venture Growth BDC shares last traded at $5.4350, with a volume of 194,614 shares.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on TPVG shares. Weiss Ratings downgraded shares of TriplePoint Venture Growth BDC from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, March 12th. Piper Sandler decreased their target price on shares of TriplePoint Venture Growth BDC from $6.00 to $5.50 and set a “neutral” rating for the company in a research note on Tuesday, April 7th. Wells Fargo & Company decreased their target price on shares of 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. Zacks Research upgraded shares of TriplePoint Venture Growth BDC from a “strong sell” rating to a “hold” rating in a research note on Friday, May 15th. Finally, Keefe, Bruyette & Woods decreased their target price 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 note on Thursday, March 5th. Four equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, TriplePoint Venture Growth BDC currently has an average rating of “Reduce” and an average price target of $5.63.

TriplePoint Venture Growth BDC Stock Up 1.2%

The company has a market capitalization of $220.66 million, a PE ratio of 5.13 and a beta of 1.27. The stock’s fifty day simple moving average is $5.40 and its 200-day simple moving average is $5.79.

TriplePoint Venture Growth BDC (NYSE:TPVG) last issued its earnings results on Wednesday, May 6th. The investment management company reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.02). TriplePoint Venture Growth BDC had a net margin of 46.77% and a return on equity of 11.54%. The company had revenue of $19.81 million during the quarter, compared to analysts’ expectations of $23.14 million. Analysts expect that TriplePoint Venture Growth BDC Corp. will post 0.95 EPS for the current year.

TriplePoint Venture Growth BDC Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th will be issued a $0.23 dividend. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a $0.92 dividend on an annualized basis and a yield of 16.9%. TriplePoint Venture Growth BDC’s dividend payout ratio (DPR) is 86.79%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Cetera Investment Advisers increased its stake in shares of TriplePoint Venture Growth BDC by 15.7% during the 1st quarter. Cetera Investment Advisers now owns 54,299 shares of the investment management company’s stock worth $271,000 after purchasing an additional 7,355 shares in the last quarter. Summit Securities Group LLC increased its stake in shares of TriplePoint Venture Growth BDC by 257.1% during the 1st quarter. Summit Securities Group LLC now owns 5,000 shares of the investment management company’s stock worth $25,000 after purchasing an additional 3,600 shares in the last quarter. Rockefeller Capital Management L.P. increased its stake in shares of TriplePoint Venture Growth BDC by 75.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 7,000 shares of the investment management company’s stock worth $46,000 after purchasing an additional 3,000 shares in the last quarter. XTX Topco Ltd purchased a new position in shares of TriplePoint Venture Growth BDC during the 4th quarter worth approximately $354,000. Finally, Oxford Asset Management LLP purchased a new position in shares of TriplePoint Venture Growth BDC during the 4th quarter worth approximately $74,000. 12.77% of the stock is owned by hedge funds and other institutional investors.

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.