TriplePoint Venture Growth BDC (NYSE:TPVG) Share Price Passes Below 200-Day Moving Average – Here’s Why

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $5.62 and traded as low as $4.90. TriplePoint Venture Growth BDC shares last traded at $5.0840, with a volume of 183,031 shares.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on TPVG. 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 on the stock in a research report on Thursday, March 5th. Keefe, Bruyette & Woods reduced 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. Weiss Ratings restated a “sell (d+)” rating on shares of TriplePoint Venture Growth BDC in a research report on Tuesday, June 9th. Piper Sandler reduced their target price on shares of TriplePoint Venture Growth BDC from $6.00 to $5.50 and set a “neutral” rating on the stock in a report on Tuesday, April 7th. Finally, Zacks Research raised TriplePoint Venture Growth BDC from a “strong sell” rating to a “hold” rating in a research note on Friday, May 15th. Four investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, TriplePoint Venture Growth BDC has an average rating of “Reduce” and an average target price of $5.62.

TriplePoint Venture Growth BDC Stock Up 3.5%

The firm has a market capitalization of $206.41 million, a P/E ratio of 4.80 and a beta of 1.28. The company’s 50 day moving average is $5.38 and its 200-day moving average is $5.62.

TriplePoint Venture Growth BDC (NYSE:TPVG) last announced its quarterly earnings data on Wednesday, May 6th. The investment management company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.02). The company had revenue of $19.81 million for the quarter, compared to analyst estimates of $23.14 million. TriplePoint Venture Growth BDC had a net margin of 46.77% and a return on equity of 11.54%. On average, analysts predict that TriplePoint Venture Growth BDC Corp. will post 0.95 EPS for the current fiscal year.

TriplePoint Venture Growth BDC Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th were given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 18.1%. The ex-dividend date of this dividend was Tuesday, June 16th. TriplePoint Venture Growth BDC’s payout ratio is presently 86.79%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in TPVG. CANADA LIFE ASSURANCE Co increased its holdings 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 acquiring an additional 2,278 shares in the last quarter. Verition Fund Management LLC lifted its holdings in shares of TriplePoint Venture Growth BDC by 14.1% in the 3rd 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 in the last quarter. O Shaughnessy Asset Management LLC lifted its holdings in shares of TriplePoint Venture Growth BDC by 13.8% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 24,152 shares of the investment management company’s stock worth $158,000 after purchasing an additional 2,921 shares in the last quarter. Rockefeller Capital Management L.P. grew its position in TriplePoint Venture Growth BDC by 75.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 7,000 shares of the investment management company’s stock valued at $46,000 after purchasing an additional 3,000 shares during the period. Finally, Summit Securities Group LLC grew its position in TriplePoint Venture Growth BDC by 257.1% in the 1st quarter. Summit Securities Group LLC now owns 5,000 shares of the investment management company’s stock valued at $25,000 after purchasing an additional 3,600 shares during the period. Institutional investors own 12.77% of the company’s stock.

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.