TriplePoint Venture Growth BDC (NYSE:TPVG) Upgraded at Zacks Research

Zacks Research upgraded shares of TriplePoint Venture Growth BDC (NYSE:TPVG) from a strong sell rating to a hold rating in a research note published on Monday,Zacks.com reports.

Other equities analysts also recently issued reports about the company. Piper Sandler decreased their target price on TriplePoint Venture Growth BDC from $7.00 to $6.00 and set a “neutral” rating for the company in a research note on Thursday, October 9th. UBS Group reduced their price objective on TriplePoint Venture Growth BDC from $6.50 to $5.50 and set a “neutral” rating for the company in a research report on Tuesday, October 14th. Wall Street Zen upgraded TriplePoint Venture Growth BDC from a “sell” rating to a “hold” rating in a research note on Saturday, December 6th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of TriplePoint Venture Growth BDC in a research note on Monday. Five equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus target price of $6.25.

TriplePoint Venture Growth BDC Price Performance

TPVG stock opened at $6.80 on Monday. The firm has a market cap of $274.56 million, a price-to-earnings ratio of 8.00 and a beta of 1.35. TriplePoint Venture Growth BDC has a 1-year low of $5.24 and a 1-year high of $8.30. The firm has a fifty day moving average price of $5.90 and a two-hundred day moving average price of $6.44.

TriplePoint Venture Growth BDC (NYSE:TPVG) last posted its quarterly earnings results on Wednesday, November 5th. The investment management company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $22.66 million during the quarter, compared to the consensus estimate of $24.22 million. As a group, analysts expect that TriplePoint Venture Growth BDC will post 1.4 EPS for the current fiscal year.

TriplePoint Venture Growth BDC Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Tuesday, December 16th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 13.5%. The ex-dividend date is Tuesday, December 16th. TriplePoint Venture Growth BDC’s payout ratio is 108.24%.

Insider Buying and Selling at TriplePoint Venture Growth BDC

In related news, CEO James Labe bought 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 12th. The stock was purchased at an average price of $5.95 per share, for a total transaction of $297,500.00. Following the transaction, the chief executive officer directly owned 717,352 shares of the company’s stock, valued at approximately $4,268,244.40. This represents a 7.49% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Sajal Srivastava bought 50,000 shares of the stock in a transaction on Wednesday, November 19th. The shares were bought at an average cost of $6.19 per share, for a total transaction of $309,500.00. Following the purchase, the insider owned 886,139 shares in the company, valued at $5,485,200.41. This trade represents a 5.98% increase in their position. The SEC filing for this purchase provides additional information. In the last three months, insiders bought 1,094,234 shares of company stock valued at $6,857,384. Company insiders own 1.46% of the company’s stock.

Institutional Investors Weigh In On TriplePoint Venture Growth BDC

Several hedge funds and other institutional investors have recently bought and sold shares of TPVG. Norden Group LLC raised its holdings in shares of TriplePoint Venture Growth BDC by 36.4% in the 2nd quarter. Norden Group LLC now owns 56,848 shares of the investment management company’s stock worth $399,000 after purchasing an additional 15,160 shares in the last quarter. U.S. Capital Wealth Advisors LLC grew its position in TriplePoint Venture Growth BDC by 23.2% in the second quarter. U.S. Capital Wealth Advisors LLC now owns 40,380 shares of the investment management company’s stock worth $283,000 after buying an additional 7,600 shares during the last quarter. HighTower Advisors LLC bought a new position in shares of TriplePoint Venture Growth BDC in the first quarter valued at $72,000. Quarry LP increased its holdings in shares of TriplePoint Venture Growth BDC by 53.6% in the first quarter. Quarry LP now owns 4,669 shares of the investment management company’s stock valued at $33,000 after buying an additional 1,629 shares in the last quarter. Finally, Samalin Investment Counsel LLC lifted its position in shares of TriplePoint Venture Growth BDC by 13.1% during the 2nd quarter. Samalin Investment Counsel LLC now owns 92,636 shares of the investment management company’s stock valued at $649,000 after acquiring an additional 10,730 shares during the last quarter. 12.77% of the stock is currently owned by institutional investors.

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.