James Labe Acquires 24,590 Shares of TriplePoint Venture Growth BDC (NYSE:TPVG) Stock

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) CEO James Labe acquired 24,590 shares of the business’s stock in a transaction that occurred on Thursday, December 11th. The shares were purchased at an average price of $6.69 per share, with a total value of $164,507.10. Following the completion of the transaction, the chief executive officer owned 1,424,115 shares of the company’s stock, valued at $9,527,329.35. The trade was a 1.76% increase in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

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

• On Wednesday, December 10th, James Labe bought 27,200 shares of TriplePoint Venture Growth BDC stock. The stock was purchased at an average price of $6.78 per share, for a total transaction of $184,416.00.
• On Friday, December 5th, James Labe purchased 47,741 shares of TriplePoint Venture Growth BDC stock. The stock was purchased at an average cost of $6.81 per share, with a total value of $325,116.21.
• On Thursday, December 4th, James Labe purchased 47,713 shares of TriplePoint Venture Growth BDC stock. The shares were purchased at an average cost of $6.62 per share, for a total transaction of $315,860.06.
• On Wednesday, December 3rd, James Labe acquired 24,000 shares of TriplePoint Venture Growth BDC stock. The stock was acquired at an average price of $6.57 per share, for a total transaction of $157,680.00.
• On Monday, December 1st, James Labe acquired 50,000 shares of TriplePoint Venture Growth BDC stock. The stock was acquired at an average price of $6.40 per share, with a total value of $320,000.00.
• On Monday, November 24th, James Labe bought 50,000 shares of TriplePoint Venture Growth BDC stock. The shares were acquired at an average cost of $6.31 per share, with a total value of $315,500.00.
• On Friday, November 21st, James Labe purchased 39,760 shares of TriplePoint Venture Growth BDC stock. The stock was acquired at an average cost of $6.30 per share, for a total transaction of $250,488.00.
• On Thursday, November 20th, James Labe purchased 42,999 shares of TriplePoint Venture Growth BDC stock. The shares were acquired at an average price of $6.28 per share, with a total value of $270,033.72.
• On Wednesday, November 19th, James Labe acquired 50,000 shares of TriplePoint Venture Growth BDC stock. The shares were acquired at an average cost of $6.19 per share, with a total value of $309,500.00.
• On Tuesday, November 18th, James Labe acquired 27,439 shares of TriplePoint Venture Growth BDC stock. The stock was bought at an average price of $6.06 per share, for a total transaction of $166,280.34.

TriplePoint Venture Growth BDC Trading Up 1.1%

NYSE TPVG traded up $0.08 during trading hours on Friday, reaching $6.70. The company had a trading volume of 142,708 shares, compared to its average volume of 325,314. The stock has a market capitalization of $270.48 million, a P/E ratio of 7.88 and a beta of 1.35. The stock has a 50-day moving average of $5.92 and a 200 day moving average of $6.44. TriplePoint Venture Growth BDC Corp. has a 1-year low of $5.24 and a 1-year high of $8.20.

TriplePoint Venture Growth BDC (NYSE:TPVG) last announced its quarterly earnings results on Wednesday, November 5th. The investment management company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.03). The company had revenue of $22.66 million for 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%. As a group, sell-side analysts predict that TriplePoint Venture Growth BDC Corp. will post 1.4 EPS for the current year.

TriplePoint Venture Growth BDC Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Tuesday, December 16th will be given a $0.23 dividend. The ex-dividend date of this dividend is Tuesday, December 16th. This represents a $0.92 dividend on an annualized basis and a yield of 13.7%. TriplePoint Venture Growth BDC’s payout ratio is presently 108.24%.

Institutional Investors Weigh In On TriplePoint Venture Growth BDC

A number of hedge funds have recently bought and sold shares of the stock. Advisory Services Network LLC purchased a new position in shares of TriplePoint Venture Growth BDC in the 3rd quarter valued at about $33,000. CANADA LIFE ASSURANCE Co increased its stake in shares of TriplePoint Venture Growth BDC by 35.5% during the third quarter. CANADA LIFE ASSURANCE Co now owns 51,515 shares of the investment management company’s stock worth $296,000 after buying an additional 13,490 shares during the period. Verition Fund Management LLC raised its holdings in TriplePoint Venture Growth BDC by 14.1% in the third quarter. Verition Fund Management LLC now owns 22,677 shares of the investment management company’s stock valued at $131,000 after acquiring an additional 2,800 shares in the last quarter. Millennium Management LLC purchased a new position in TriplePoint Venture Growth BDC in the third quarter worth approximately $134,000. Finally, Brevan Howard Capital Management LP purchased a new position in TriplePoint Venture Growth BDC in the third quarter worth approximately $165,000. Institutional investors and hedge funds own 12.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on TPVG. Weiss Ratings restated a “sell (d+)” rating on shares of TriplePoint Venture Growth BDC in a research report on Monday. Wall Street Zen upgraded TriplePoint Venture Growth BDC from a “sell” rating to a “hold” rating in a report on Saturday, December 6th. UBS Group cut their price target 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. Zacks Research raised shares of TriplePoint Venture Growth BDC from a “strong sell” rating to a “hold” rating in a research report on Monday. Finally, Piper Sandler dropped their price objective on shares of TriplePoint Venture Growth BDC from $7.00 to $6.00 and set a “neutral” rating for the company in a report on Thursday, October 9th. Five analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average target price of $6.25.

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.