TriplePoint Venture Growth BDC (NYSE:TPVG) Issues Quarterly Earnings Results

TriplePoint Venture Growth BDC (NYSE:TPVG) announced its earnings results on Wednesday. The investment management company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.26), FiscalAI reports. The firm had revenue of $20.17 million for the quarter, compared to analyst estimates of $22.18 million. TriplePoint Venture Growth BDC had a net margin of 44.58% and a return on equity of 10.68%.

TriplePoint Venture Growth BDC Trading Up 3.7%

TPVG stock traded up $0.17 during midday trading on Wednesday, reaching $4.67. The company had a trading volume of 216,665 shares, compared to its average volume of 327,609. TriplePoint Venture Growth BDC has a 1 year low of $4.15 and a 1 year high of $6.95. The company has a market capitalization of $189.91 million, a P/E ratio of 4.71 and a beta of 1.35. The company has a 50 day moving average of $4.83 and a two-hundred day moving average of $5.19.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Weiss Ratings downgraded TriplePoint Venture Growth BDC from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, October 8th. Keefe, Bruyette & Woods reduced their price objective on TriplePoint Venture Growth BDC from $6.00 to $5.50 and set a “market perform” rating for the company in a research note on Thursday, August 6th. Finally, Piper Sandler reduced their price objective on TriplePoint Venture Growth BDC from $5.50 to $5.00 and set a “neutral” rating for the company in a research note on Monday, July 13th. Three investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, TriplePoint Venture Growth BDC currently has an average rating of “Reduce” and an average target price of $5.17.

Insider Buying and Selling at TriplePoint Venture Growth BDC

In related news, CEO James Labe purchased 313,865 shares of the stock in a transaction dated Friday, September 18th. The shares were acquired at an average cost of $4.71 per share, for a total transaction of $1,478,304.15. Following the acquisition, the chief executive officer directly owned 2,312,354 shares in the company, valued at approximately $10,891,187.34. The trade was a 15.71% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Sajal Srivastava sold 313,865 shares of the company’s stock in a transaction on Friday, September 18th. The stock was sold at an average price of $4.71, for a total transaction of $1,478,304.15. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.55% of the company’s stock.

TriplePoint Venture Growth BDC Company Profile

TriplePoint Venture Growth BDC Corp. is a business development company that provides financing to venture growth-stage companies. The company primarily invests in businesses backed by venture capital or private equity sponsors, with an emphasis on companies that have developed products or services and are seeking capital to support expansion, acquisitions, working capital and other corporate purposes.

Its investment portfolio is focused largely on companies in technology, life sciences and other high-growth industries.