TriplePoint Venture Growth BDC (NYSE:TPVG) Share Price Crosses Above 50-Day Moving Average – What’s Next?

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG)’s share price passed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $5.40 and traded as high as $5.53. TriplePoint Venture Growth BDC shares last traded at $5.4350, with a volume of 194,614 shares traded.

Wall Street Analyst Weigh In

TPVG has been the topic of a number of recent analyst reports. Wells Fargo & Company lowered their price target on shares of TriplePoint Venture Growth BDC from $5.50 to $5.00 and set an “underweight” rating on the stock in a report on Thursday, March 5th. Piper Sandler decreased their price target on shares of TriplePoint Venture Growth BDC from $6.00 to $5.50 and set a “neutral” rating on the stock in a research note on Tuesday, April 7th. Keefe, Bruyette & Woods cut their target price on shares of TriplePoint Venture Growth BDC from $7.00 to $6.50 and set a “market perform” rating on the stock in a report on Thursday, March 5th. Weiss Ratings cut shares of TriplePoint Venture Growth BDC from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, March 12th. Finally, Zacks Research upgraded shares of TriplePoint Venture Growth BDC from a “strong sell” rating to a “hold” rating in a report on Friday, May 15th. Four analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, TriplePoint Venture Growth BDC presently has an average rating of “Reduce” and a consensus target price of $5.63.

TriplePoint Venture Growth BDC Trading Up 1.6%

The stock has a market cap of $225.53 million, a P/E ratio of 5.24 and a beta of 1.27. The stock’s fifty day moving average price is $5.44 and its 200 day moving average price is $5.78.

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

TriplePoint Venture Growth BDC Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 16.6%. The ex-dividend date is Tuesday, June 16th. TriplePoint Venture Growth BDC’s payout ratio is 86.79%.

Hedge Funds Weigh In On TriplePoint Venture Growth BDC

Several large investors have recently modified their holdings of TPVG. Jane Street Group LLC raised its position in shares of TriplePoint Venture Growth BDC by 28.1% in the 1st quarter. Jane Street Group LLC now owns 67,693 shares of the investment management company’s stock worth $472,000 after purchasing an additional 14,865 shares during the last quarter. Northwestern Mutual Wealth Management Co. purchased a new position in shares of TriplePoint Venture Growth BDC in the 2nd quarter worth about $35,000. Marshall Wace LLP raised its position in shares of TriplePoint Venture Growth BDC by 44.9% in the 2nd quarter. Marshall Wace LLP now owns 529,201 shares of the investment management company’s stock worth $3,710,000 after purchasing an additional 163,916 shares during the last quarter. Osaic Holdings Inc. raised its position in shares of TriplePoint Venture Growth BDC by 75.6% in the 2nd quarter. Osaic Holdings Inc. now owns 35,945 shares of the investment management company’s stock worth $252,000 after purchasing an additional 15,478 shares during the last quarter. Finally, Kovack Advisors Inc. raised its position in shares of TriplePoint Venture Growth BDC by 4.4% in the 3rd quarter. Kovack Advisors Inc. now owns 52,519 shares of the investment management company’s stock worth $303,000 after purchasing an additional 2,200 shares during the last quarter. Hedge funds and other institutional investors own 12.77% of the company’s stock.

TriplePoint Venture Growth BDC Company Profile

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.