Insider Selling: TriplePoint Venture Growth BDC (NYSE:TPVG) Insider Sells 313,865 Shares of Stock

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) insider Sajal Srivastava sold 313,865 shares of the business’s stock in a transaction on Friday, September 18th. The stock was sold at an average price of $4.71, for a total value of $1,478,304.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

TriplePoint Venture Growth BDC Price Performance

Shares of NYSE TPVG traded up $0.07 during mid-day trading on Tuesday, reaching $4.91. 212,791 shares of the company’s stock were exchanged, compared to its average volume of 351,506. The firm has a 50-day moving average price of $5.04 and a two-hundred day moving average price of $5.16. The firm has a market capitalization of $199.68 million, a price-to-earnings ratio of 4.95 and a beta of 1.31. TriplePoint Venture Growth BDC Corp. has a 52 week low of $4.39 and a 52 week high of $6.95.

TriplePoint Venture Growth BDC (NYSE:TPVG) last posted its quarterly earnings results on Wednesday, August 5th. The investment management company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.02. TriplePoint Venture Growth BDC had a net margin of 44.58% and a return on equity of 10.68%. The company had revenue of $22.15 million during the quarter, compared to analyst estimates of $22.88 million. As a group, sell-side analysts forecast that TriplePoint Venture Growth BDC Corp. will post 0.94 EPS for the current fiscal year.

TriplePoint Venture Growth BDC Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 30th. Shareholders of record on Wednesday, December 16th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date is Wednesday, December 16th. TriplePoint Venture Growth BDC’s dividend payout ratio (DPR) is currently 92.93%.

Hedge Funds Weigh In On TriplePoint Venture Growth BDC

A number of hedge funds have recently modified their holdings of the company. Bay Colony Advisory Group Inc d b a Bay Colony Advisors grew its stake in shares of TriplePoint Venture Growth BDC by 19.9% in the second quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 14,659 shares of the investment management company’s stock worth $72,000 after purchasing an additional 2,435 shares during the last quarter. Rockefeller Capital Management L.P. grew its holdings in TriplePoint Venture Growth BDC by 75.0% in the fourth 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 during the period. Summit Securities Group LLC increased its holdings in shares of TriplePoint Venture Growth BDC by 257.1% during the first quarter. Summit Securities Group LLC now owns 5,000 shares of the investment management company’s stock valued at $25,000 after acquiring an additional 3,600 shares in the last quarter. Cetera Investment Advisers raised its holdings in TriplePoint Venture Growth BDC by 15.7% in the 1st quarter. Cetera Investment Advisers now owns 54,299 shares of the investment management company’s stock worth $271,000 after acquiring an additional 7,355 shares during the last quarter. Finally, AXQ Capital LP bought a new position in TriplePoint Venture Growth BDC during the 4th quarter valued at about $72,000. Hedge funds and other institutional investors own 12.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on TPVG. Weiss Ratings raised shares of TriplePoint Venture Growth BDC from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, September 16th. Piper Sandler decreased their price objective on TriplePoint Venture Growth BDC from $5.50 to $5.00 and set a “neutral” rating on the stock in a report on Monday, July 13th. Finally, Keefe, Bruyette & Woods reduced their price target on shares of TriplePoint Venture Growth BDC from $6.00 to $5.50 and set a “market perform” rating on the stock in a research report on Thursday, August 6th. Five research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Reduce” and an average price target of $5.25.

About TriplePoint Venture Growth BDC

TriplePoint Venture Growth BDC Corp. is a business development company that provides financing to venture growth-stage companies. The company primarily supports businesses backed by venture capital or private equity investors, offering capital to help fund expansion, acquisitions, working capital needs and other corporate purposes.

TriplePoint Venture Growth typically invests through secured loans, including term loans and other forms of debt financing. It may also receive warrants or make equity investments in portfolio companies, allowing it to participate in their potential growth.