Insider Buying: TriplePoint Venture Growth BDC (NYSE:TPVG) CEO Purchases 31,600 Shares of Stock

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) CEO James Labe bought 31,600 shares of the firm’s stock in a transaction on Friday, December 26th. The stock was bought at an average price of $6.30 per share, with a total value of $199,080.00. Following the completion of the purchase, the chief executive officer owned 1,712,144 shares of the company’s stock, valued at $10,786,507.20. This trade represents a 1.88% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website.

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

• On Wednesday, December 24th, James Labe purchased 26,756 shares of TriplePoint Venture Growth BDC stock. The stock was bought at an average cost of $6.30 per share, for a total transaction of $168,562.80.
• On Tuesday, December 23rd, James Labe acquired 31,910 shares of TriplePoint Venture Growth BDC stock. The shares were bought at an average price of $6.29 per share, with a total value of $200,713.90.
• On Monday, December 22nd, James Labe bought 26,900 shares of TriplePoint Venture Growth BDC stock. The stock was bought at an average cost of $6.29 per share, for a total transaction of $169,201.00.
• On Friday, December 19th, James Labe purchased 29,000 shares of TriplePoint Venture Growth BDC stock. The shares were purchased at an average cost of $6.25 per share, with a total value of $181,250.00.
• On Thursday, December 18th, James Labe purchased 25,000 shares of TriplePoint Venture Growth BDC stock. The shares were purchased 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 stock was purchased at an average price of $6.19 per share, for a total transaction 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 cost of $6.18 per share, with a total value 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 price of $6.46 per share, with a total value of $193,800.00.
• On Friday, December 12th, James Labe purchased 19,919 shares of TriplePoint Venture Growth BDC stock. The shares were acquired at an average cost of $6.64 per share, for a total transaction of $132,262.16.
• On Thursday, December 11th, James Labe acquired 24,590 shares of TriplePoint Venture Growth BDC stock. The shares were acquired at an average price of $6.69 per share, with a total value of $164,507.10.

TriplePoint Venture Growth BDC Price Performance

TPVG stock traded up $0.07 on Monday, reaching $6.39. The company’s stock had a trading volume of 283,064 shares, compared to its average volume of 332,764. TriplePoint Venture Growth BDC Corp. has a 52 week low of $5.24 and a 52 week high of $8.20. The company has a market capitalization of $257.99 million, a P/E ratio of 7.51 and a beta of 1.35. The firm has a fifty day moving average of $6.10 and a two-hundred day moving average of $6.38.

TriplePoint Venture Growth BDC (NYSE:TPVG) last announced its 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). TriplePoint Venture Growth BDC had a net margin of 36.02% and a return on equity of 12.88%. The business had revenue of $22.66 million for the quarter, compared to the consensus estimate of $24.22 million. As a group, equities analysts expect that TriplePoint Venture Growth BDC Corp. will post 1.4 EPS for the current fiscal year.

TriplePoint Venture Growth BDC Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Tuesday, December 16th will be paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 14.4%. The ex-dividend date is Tuesday, December 16th. TriplePoint Venture Growth BDC’s 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 the business. Nomura Asset Management Co. Ltd. purchased a new position in TriplePoint Venture Growth BDC during the 2nd quarter valued at about $26,000. Quarry LP lifted its position 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 worth $33,000 after purchasing an additional 1,629 shares in the last quarter. Advisory Services Network LLC acquired a new stake in shares of TriplePoint Venture Growth BDC during the third quarter worth approximately $33,000. Northwestern Mutual Wealth Management Co. purchased a new position in TriplePoint Venture Growth BDC during the second quarter valued at approximately $35,000. Finally, HighTower Advisors LLC acquired a new position in TriplePoint Venture Growth BDC in the 1st quarter valued at approximately $72,000. 12.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Weiss Ratings reissued a “sell (d+)” rating on shares of TriplePoint Venture Growth BDC in a research note on Monday, December 22nd. Piper Sandler lowered their price objective on shares of TriplePoint Venture Growth BDC from $7.00 to $6.00 and set a “neutral” rating on the stock in a research note on Thursday, October 9th. UBS Group dropped their target price on TriplePoint Venture Growth BDC from $6.50 to $5.50 and set a “neutral” rating on the stock in a report on Tuesday, October 14th. Zacks Research raised TriplePoint Venture Growth BDC from a “strong sell” rating to a “hold” rating in a research note on Monday, December 8th. Finally, Wall Street Zen raised 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 company. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus target price 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.