James Labe Buys 39,044 Shares of TriplePoint Venture Growth BDC (NYSE:TPVG) Stock

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) CEO James Labe acquired 39,044 shares of the company’s stock in a transaction dated Tuesday, December 16th. The shares were bought at an average cost of $6.18 per share, with a total value of $241,291.92. Following the purchase, the chief executive officer owned 1,513,078 shares of the company’s stock, valued at approximately $9,350,822.04. This trade represents a 2.65% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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

• On Wednesday, December 17th, James Labe bought 27,900 shares of TriplePoint Venture Growth BDC stock. The stock was purchased at an average cost of $6.19 per share, for a total transaction of $172,701.00.
• On Monday, December 15th, James Labe purchased 30,000 shares of TriplePoint Venture Growth BDC stock. The shares were purchased at an average cost 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 stock was purchased 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 purchased at an average cost of $6.69 per share, with a total value of $164,507.10.
• On Wednesday, December 10th, James Labe bought 27,200 shares of TriplePoint Venture Growth BDC stock. The shares were purchased at an average price of $6.78 per share, with a total value of $184,416.00.
• On Friday, December 5th, James Labe purchased 47,741 shares of TriplePoint Venture Growth BDC stock. The shares were acquired at an average price of $6.81 per share, for a total transaction of $325,116.21.
• On Thursday, December 4th, James Labe purchased 47,713 shares of TriplePoint Venture Growth BDC stock. The shares were acquired at an average cost of $6.62 per share, with a total value 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 bought 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 bought at an average cost of $6.31 per share, for a total transaction of $315,500.00.

TriplePoint Venture Growth BDC Price Performance

TPVG stock traded up $0.12 during trading on Thursday, reaching $6.30. The company had a trading volume of 417,186 shares, compared to its average volume of 331,880. TriplePoint Venture Growth BDC Corp. has a 52 week low of $5.24 and a 52 week high of $8.20. The business has a 50 day moving average of $5.98 and a 200 day moving average of $6.43. The company has a market cap of $254.52 million, a P/E ratio of 7.41 and a beta of 1.35.

TriplePoint Venture Growth BDC (NYSE:TPVG) last posted its 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 firm had revenue of $22.66 million for the quarter, compared to analysts’ expectations of $24.22 million. TriplePoint Venture Growth BDC had a return on equity of 12.88% and a net margin of 36.02%. Research analysts expect that TriplePoint Venture Growth BDC Corp. will post 1.4 earnings per share for the current year.

TriplePoint Venture Growth BDC Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Tuesday, December 16th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 14.6%. The ex-dividend date of this dividend is Tuesday, December 16th. TriplePoint Venture Growth BDC’s dividend payout ratio (DPR) is 108.24%.

Institutional Investors Weigh In On TriplePoint Venture Growth BDC

Large investors have recently added to or reduced their stakes in the stock. Advisory Services Network LLC purchased a new position in shares of TriplePoint Venture Growth BDC in the 3rd quarter worth $33,000. CANADA LIFE ASSURANCE Co lifted its position in shares of TriplePoint Venture Growth BDC by 35.5% during the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 51,515 shares of the investment management company’s stock valued at $296,000 after buying an additional 13,490 shares in the last quarter. Verition Fund Management LLC boosted its position in shares of 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 worth $131,000 after purchasing an additional 2,800 shares during the period. Millennium Management LLC purchased a new stake in TriplePoint Venture Growth BDC in the 3rd quarter worth $134,000. Finally, Brevan Howard Capital Management LP purchased a new position in TriplePoint Venture Growth BDC in the 3rd quarter worth approximately $165,000. Institutional investors own 12.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Wall Street Zen upgraded shares of TriplePoint Venture Growth BDC from a “sell” rating to a “hold” rating in a report on Saturday, December 6th. Zacks Research raised TriplePoint Venture Growth BDC from a “strong sell” rating to a “hold” rating in a research report on Monday, December 8th. Weiss Ratings reiterated a “sell (d+)” rating on shares of TriplePoint Venture Growth BDC in a research note on Monday. Piper Sandler cut their target price on 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. Finally, UBS Group lowered their price target on TriplePoint Venture Growth BDC from $6.50 to $5.50 and set a “neutral” rating for the company in a research report on Tuesday, October 14th. Five equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, TriplePoint Venture Growth BDC currently has a consensus rating of “Reduce” and an average price target of $6.25.

TriplePoint Venture Growth BDC Company Profile

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.