Insider Buying: TriplePoint Venture Growth BDC (NYSE:TPVG) CEO Acquires $157,680.00 in Stock

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) CEO James Labe acquired 24,000 shares of TriplePoint Venture Growth BDC stock in a transaction on Wednesday, December 3rd. The stock was purchased at an average price of $6.57 per share, with a total value of $157,680.00. Following the purchase, the chief executive officer owned 1,222,766 shares of the company’s stock, valued at $8,033,572.62. The trade was a 2.00% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Thursday, December 4th, James Labe bought 47,713 shares of TriplePoint Venture Growth BDC stock. The shares were acquired at an average price of $6.62 per share, for a total transaction of $315,860.06.
• On Monday, December 1st, James Labe bought 50,000 shares of TriplePoint Venture Growth BDC stock. The stock was acquired at an average cost of $6.40 per share, for a total transaction of $320,000.00.
• On Monday, November 24th, James Labe purchased 50,000 shares of TriplePoint Venture Growth BDC stock. The stock was acquired at an average price 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 shares were acquired at an average price of $6.30 per share, with a total value of $250,488.00.
• On Thursday, November 20th, James Labe acquired 42,999 shares of TriplePoint Venture Growth BDC stock. The shares were acquired at an average cost of $6.28 per share, for a total transaction of $270,033.72.
• On Wednesday, November 19th, James Labe acquired 50,000 shares of TriplePoint Venture Growth BDC stock. The stock was acquired at an average price of $6.19 per share, for a total transaction of $309,500.00.
• On Tuesday, November 18th, James Labe bought 27,439 shares of TriplePoint Venture Growth BDC stock. The shares were acquired at an average price of $6.06 per share, with a total value of $166,280.34.
• On Monday, November 17th, James Labe purchased 44,648 shares of TriplePoint Venture Growth BDC stock. The shares were bought at an average cost of $6.06 per share, for a total transaction of $270,566.88.
• On Friday, November 14th, James Labe purchased 46,700 shares of TriplePoint Venture Growth BDC stock. The stock was bought at an average price of $5.99 per share, for a total transaction of $279,733.00.
• On Wednesday, November 12th, James Labe acquired 50,000 shares of TriplePoint Venture Growth BDC stock. The shares were bought at an average cost of $5.95 per share, with a total value of $297,500.00.

TriplePoint Venture Growth BDC Stock Performance

TriplePoint Venture Growth BDC stock traded up $0.17 during mid-day trading on Friday, reaching $6.81. 287,552 shares of the company were exchanged, compared to its average volume of 325,144. The firm has a market cap of $275.12 million, a PE ratio of 8.01 and a beta of 1.35. The firm’s 50-day simple moving average is $5.83 and its two-hundred day simple moving average is $6.45. TriplePoint Venture Growth BDC Corp. has a twelve month low of $5.24 and a twelve month high of $8.33.

TriplePoint Venture Growth BDC (NYSE:TPVG) last released its quarterly earnings results on Wednesday, November 5th. The investment management company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.03). TriplePoint Venture Growth BDC had a return on equity of 12.88% and a net margin of 36.02%.The company had revenue of $22.66 million for the quarter, compared to analysts’ expectations of $24.22 million. As a group, equities research analysts anticipate that TriplePoint Venture Growth BDC Corp. will post 1.4 EPS for the current year.

TriplePoint Venture Growth BDC Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Tuesday, December 16th will be issued a $0.23 dividend. The ex-dividend date of this dividend is Tuesday, December 16th. This represents a $0.92 annualized dividend and a dividend yield of 13.5%. TriplePoint Venture Growth BDC’s payout ratio is presently 108.24%.

Institutional Investors Weigh In On TriplePoint Venture Growth BDC

A number of institutional investors and hedge funds have recently modified their holdings of the company. Nomura Asset Management Co. Ltd. acquired a new position in TriplePoint Venture Growth BDC during the second quarter worth $26,000. Quarry LP raised its stake in shares of TriplePoint Venture Growth BDC by 53.6% during the 1st quarter. Quarry LP now owns 4,669 shares of the investment management company’s stock worth $33,000 after buying an additional 1,629 shares during the last quarter. Advisory Services Network LLC purchased a new stake in shares of TriplePoint Venture Growth BDC in the 3rd quarter worth about $33,000. Northwestern Mutual Wealth Management Co. purchased a new position in TriplePoint Venture Growth BDC during the 2nd quarter valued at about $35,000. Finally, HighTower Advisors LLC acquired a new position in TriplePoint Venture Growth BDC during the first quarter worth about $72,000. Institutional investors and hedge funds own 12.77% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Weiss Ratings reissued a “sell (d+)” rating on shares of TriplePoint Venture Growth BDC in a report on Monday. Zacks Research cut TriplePoint Venture Growth BDC from a “hold” rating to a “strong sell” rating in a research report on Friday, November 7th. Wall Street Zen downgraded TriplePoint Venture Growth BDC from a “hold” rating to a “sell” rating in a research note on Saturday, November 22nd. Piper Sandler decreased their price target 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 dropped their price objective on TriplePoint Venture Growth BDC from $6.50 to $5.50 and set a “neutral” rating on the stock in a report on Tuesday, October 14th. Four investment analysts have rated the stock with a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average 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.