Insider Buying: TriplePoint Venture Growth BDC (NYSE:TPVG) CEO Buys 39,760 Shares of Stock

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) CEO James Labe purchased 39,760 shares of the company’s stock in a transaction that occurred on Friday, November 21st. The stock was bought at an average price of $6.30 per share, with a total value of $250,488.00. Following the purchase, the chief executive officer owned 968,898 shares of the company’s stock, valued at approximately $6,104,057.40. The trade was a 4.28% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

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

• On Monday, November 24th, James Labe bought 50,000 shares of TriplePoint Venture Growth BDC stock. The shares were purchased at an average cost of $6.31 per share, with a total value of $315,500.00.
• On Thursday, November 20th, James Labe acquired 42,999 shares of TriplePoint Venture Growth BDC stock. The stock was purchased at an average cost of $6.28 per share, for a total transaction of $270,033.72.
• On Wednesday, November 19th, James Labe purchased 50,000 shares of TriplePoint Venture Growth BDC stock. The stock was purchased at an average price of $6.19 per share, with a total value of $309,500.00.
• On Tuesday, November 18th, James Labe purchased 27,439 shares of TriplePoint Venture Growth BDC stock. The shares were purchased at an average price of $6.06 per share, with a total value of $166,280.34.
• On Monday, November 17th, James Labe acquired 44,648 shares of TriplePoint Venture Growth BDC stock. The shares were purchased at an average cost of $6.06 per share, with a total value of $270,566.88.
• On Friday, November 14th, James Labe purchased 46,700 shares of TriplePoint Venture Growth BDC stock. The shares were acquired at an average price of $5.99 per share, for a total transaction of $279,733.00.
• On Wednesday, November 12th, James Labe purchased 50,000 shares of TriplePoint Venture Growth BDC stock. The shares were acquired at an average price of $5.95 per share, for a total transaction of $297,500.00.
• On Tuesday, November 11th, James Labe purchased 26,117 shares of TriplePoint Venture Growth BDC stock. The stock was purchased at an average price of $5.76 per share, for a total transaction of $150,433.92.
• On Wednesday, September 3rd, James Labe bought 48,800 shares of TriplePoint Venture Growth BDC stock. The shares were bought at an average price of $6.77 per share, with a total value of $330,376.00.
• On Tuesday, September 2nd, James Labe acquired 54,000 shares of TriplePoint Venture Growth BDC stock. The stock was acquired at an average price of $6.72 per share, with a total value of $362,880.00.

TriplePoint Venture Growth BDC Price Performance

NYSE:TPVG traded down $0.02 on Tuesday, hitting $6.28. 60,279 shares of the company’s stock were exchanged, compared to its average volume of 321,827. The firm has a 50-day moving average price of $5.77 and a 200-day moving average price of $6.45. TriplePoint Venture Growth BDC Corp. has a 52 week low of $5.24 and a 52 week high of $8.50. The company has a market cap of $253.51 million, a P/E ratio of 7.38 and a beta of 1.47.

TriplePoint Venture Growth BDC (NYSE:TPVG) last issued its 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). The business had revenue of $22.66 million for the quarter, compared to the consensus estimate of $24.22 million. TriplePoint Venture Growth BDC had a return on equity of 12.88% and a net margin of 36.02%. On average, research analysts expect that TriplePoint Venture Growth BDC Corp. will post 1.4 earnings per share for the current fiscal year.

TriplePoint Venture Growth BDC Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Tuesday, December 16th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 14.7%. The ex-dividend date of this dividend is Tuesday, December 16th. TriplePoint Venture Growth BDC’s dividend payout ratio (DPR) is 108.24%.

Institutional Trading of TriplePoint Venture Growth BDC

Several hedge funds have recently bought and sold shares of TPVG. Two Sigma Investments LP raised its holdings in shares of TriplePoint Venture Growth BDC by 58.6% in the 3rd quarter. Two Sigma Investments LP now owns 612,727 shares of the investment management company’s stock worth $3,535,000 after acquiring an additional 226,479 shares during the last quarter. Marshall Wace LLP grew its stake 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 acquiring an additional 163,916 shares in the last quarter. Meridian Wealth Management LLC bought a new position in shares of TriplePoint Venture Growth BDC during the third quarter valued at about $173,000. Aquatic Capital Management LLC grew its position in TriplePoint Venture Growth BDC by 251.3% in the 3rd quarter. Aquatic Capital Management LLC now owns 41,137 shares of the investment management company’s stock worth $237,000 after purchasing an additional 29,427 shares in the last quarter. Finally, Brevan Howard Capital Management LP purchased a new stake in TriplePoint Venture Growth BDC in the 3rd quarter valued at about $165,000. Institutional investors and hedge funds own 12.77% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Weiss Ratings restated a “sell (d+)” rating on shares of TriplePoint Venture Growth BDC in a research report on Wednesday, November 19th. Piper Sandler reduced their price objective on shares of 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. UBS Group cut their target price on TriplePoint Venture Growth BDC from $6.50 to $5.50 and set a “neutral” rating on the stock in a research report on Tuesday, October 14th. Wall Street Zen downgraded TriplePoint Venture Growth BDC from a “hold” rating to a “sell” rating in a report on Saturday. Finally, Zacks Research cut TriplePoint Venture Growth BDC from a “hold” rating to a “strong sell” rating in a report on Friday, November 7th. Four research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, TriplePoint Venture Growth BDC 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.