TriplePoint Venture Growth BDC (NYSE:TPVG) Stock Crosses Below 200-Day Moving Average – Should You Sell?

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG)’s stock price passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $6.06 and traded as low as $5.16. TriplePoint Venture Growth BDC shares last traded at $5.1750, with a volume of 462,823 shares trading hands.

Analyst Ratings Changes

Several research analysts have recently issued reports on TPVG shares. Weiss Ratings upgraded shares of TriplePoint Venture Growth BDC from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, February 9th. Wells Fargo & Company cut their target price 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. Wall Street Zen upgraded shares of TriplePoint Venture Growth BDC from a “sell” rating to a “hold” rating in a research report on Saturday, December 6th. Zacks Research raised TriplePoint Venture Growth BDC from a “strong sell” rating to a “hold” rating in a research note on Monday, December 8th. Finally, Keefe, Bruyette & Woods reduced their price objective on shares of TriplePoint Venture Growth BDC from $7.00 to $6.50 and set a “market perform” rating for the company in a research report on Thursday, March 5th. Six equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of $6.05.

TriplePoint Venture Growth BDC Stock Performance

The company has a market capitalization of $209.54 million, a PE ratio of 4.21 and a beta of 1.37. The stock’s fifty day simple moving average is $5.93 and its 200-day simple moving average is $6.06.

TriplePoint Venture Growth BDC (NYSE:TPVG) last issued its quarterly earnings results on Wednesday, March 4th. The investment management company reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01). TriplePoint Venture Growth BDC had a return on equity of 12.04% and a net margin of 54.12%.The firm had revenue of $3.42 million for the quarter, compared to analysts’ expectations of $23.78 million. On average, equities analysts anticipate that TriplePoint Venture Growth BDC Corp. will post 1.4 EPS for the current year.

TriplePoint Venture Growth BDC Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th will be paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Tuesday, March 17th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 17.8%. TriplePoint Venture Growth BDC’s dividend payout ratio is currently 74.80%.

Insider Activity at TriplePoint Venture Growth BDC

In other news, CEO James Labe purchased 23,799 shares of the stock in a transaction on Monday, January 12th. The stock was purchased at an average price of $6.66 per share, with a total value of $158,501.34. Following the completion of the transaction, the chief executive officer owned 1,998,489 shares in the company, valued at approximately $13,309,936.74. The trade was a 1.21% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Sajal Srivastava acquired 23,799 shares of TriplePoint Venture Growth BDC stock in a transaction dated Monday, January 12th. The stock was purchased at an average cost of $6.66 per share, for a total transaction of $158,501.34. Following the completion of the purchase, the insider directly owned 1,998,489 shares in the company, valued at approximately $13,309,936.74. This represents a 1.21% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased 1,079,282 shares of company stock worth $6,927,706 over the last three months. Corporate insiders own 1.46% of the company’s stock.

Institutional Trading of TriplePoint Venture Growth BDC

A number of institutional investors and hedge funds have recently bought and sold shares of TPVG. Nomura Asset Management Co. Ltd. purchased a new position in shares of TriplePoint Venture Growth BDC in the 2nd quarter valued at $26,000. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of TriplePoint Venture Growth BDC in the second quarter worth about $35,000. Advisory Services Network LLC purchased a new stake in shares of TriplePoint Venture Growth BDC in the third quarter worth about $33,000. Farmers & Merchants Investments Inc. grew its stake in shares of TriplePoint Venture Growth BDC by 221.7% in the fourth quarter. Farmers & Merchants Investments Inc. now owns 10,293 shares of the investment management company’s stock valued at $67,000 after buying an additional 7,093 shares in the last quarter. Finally, AXQ Capital LP acquired a new position in TriplePoint Venture Growth BDC during the 4th quarter worth approximately $72,000. Institutional investors and hedge funds 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.