TriplePoint Venture Growth BDC (NYSE: TPVG – Get a rating) released its quarterly earnings data on Wednesday. The investment management firm reported EPS of $0.41 for the quarter, beating consensus analyst estimates of $0.37 by $0.04, Loyalty Earnings reports. TriplePoint Venture Growth BDC earned a net margin of 43.80% and a return on equity of 11.35%. In the same period of the previous year, the company had earned earnings per share of $0.30.
TriplePoint Venture Growth BDC Price Performance
NYSE: TPVG fell $1.05 during Friday’s midday session, hitting $13.42. The company’s stock had a trading volume of 63,688 shares, compared to an average volume of 115,853. TriplePoint Venture Growth BDC has a 1-year low of $11.86 and a 1-year high of $19.25 . The stock has a market capitalization of $416.56 million, a price-earnings ratio of 10.12 and a beta of 1.68. The company’s fifty-day moving average is $13.51 and its two-hundred-day moving average is $15.45.
TriplePoint Venture Growth BDC Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, September 30. Shareholders of record on Thursday, September 15 will receive a dividend of $0.36 per share. This represents a dividend of $1.44 on an annualized basis and a dividend yield of 10.73%. The ex-dividend date is Wednesday, September 14. TriplePoint Venture Growth BDC’s dividend payout ratio (DPR) is currently 100.70%.
Wall Street analysts predict growth
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The TPVG has been the subject of a number of recent research reports. Piper Sandler cut her price target on TriplePoint Venture Growth BDC shares from $19.00 to $16.00 and set an “overweight” rating for the company in a Tuesday, June 28 research note. Wells Fargo & Company raised its price target on TriplePoint Venture Growth BDC shares from $17.50 to $18.00 and gave the stock an “overweight” rating in a Monday, April 25 research note. . Two equity research analysts have rated the stock with a hold rating and three have assigned the stock a buy rating. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $17.19.
Insider buying and selling at TriplePoint Venture Growth BDC
Separately, CFO Christopher M. Mathieu acquired 10,000 shares of the company in a transaction on Friday, June 17. The shares were acquired at an average price of $12.16 per share, for a total transaction of $121,600.00. Following the completion of the transaction, the CFO now owns 25,500 shares of the company, valued at approximately $310,080. The acquisition was disclosed in a legal filing with the SEC, accessible via this link. 1.38% of the shares are held by insiders.
Institutional entries and exits
A number of large investors have recently changed their holdings in the company. Raymond James & Associates increased its position in shares of TriplePoint Venture Growth BDC by 16.2% during the 1st quarter. Raymond James & Associates now owns 28,048 shares of the investment management firm worth $490,000 after buying 3,918 more shares in the last quarter. HighTower Advisors LLC increased its position in shares of TriplePoint Venture Growth BDC by 4.7% during the 1st quarter. HighTower Advisors LLC now owns 36,490 shares of the investment management company worth $637,000 after buying an additional 1,650 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of TriplePoint Venture Growth BDC by 264.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 34,470 shares of the investment management company worth $601,000 after buying an additional 25,000 shares in the last quarter. Lazard Asset Management LLC acquired a new position in shares of TriplePoint Venture Growth BDC during Q1 worth approximately $39,000. Finally, UBS Group AG increased its position in shares of TriplePoint Venture Growth BDC by 9.6% during the 1st quarter. UBS Group AG now owns 57,170 shares of the investment management company worth $998,000 after buying an additional 5,031 shares in the last quarter. Institutional investors and hedge funds hold 22.75% of the company’s shares.
Company Profile TriplePoint Venture Growth BDC
TriplePoint Venture Growth BDC Corp. is a business development firm specializing in investments in growth-stage venture capital-backed companies. It also provides debt financing to growth space companies, which includes growth capital loans, secured and customized loans, equipment financing, revolving loans and direct equity investments.
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