TriplePoint Venture Growth BDC (NYSE:TPVG) CEO James Labe Buys 50,000 Shares of Stock

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) CEO James Labe purchased 50,000 shares of the stock in a transaction that occurred on Wednesday, November 12th. The stock was bought at an average cost of $5.95 per share, for a total transaction of $297,500.00. Following the acquisition, the chief executive officer directly owned 667,352 shares in the company, valued at $3,970,744.40. This trade represents a 8.10% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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

• On Tuesday, November 11th, James Labe acquired 26,117 shares of TriplePoint Venture Growth BDC stock. The shares were purchased at an average cost of $5.76 per share, with a total value of $150,433.92.
• On Wednesday, September 3rd, James Labe bought 48,800 shares of TriplePoint Venture Growth BDC stock. The stock was purchased at an average price of $6.77 per share, for a total transaction of $330,376.00.
• On Tuesday, September 2nd, James Labe purchased 54,000 shares of TriplePoint Venture Growth BDC stock. The shares were purchased at an average cost of $6.72 per share, for a total transaction of $362,880.00.
• On Friday, August 29th, James Labe purchased 65,000 shares of TriplePoint Venture Growth BDC stock. The shares were purchased at an average price of $6.73 per share, with a total value of $437,450.00.
• On Thursday, August 28th, James Labe acquired 44,630 shares of TriplePoint Venture Growth BDC stock. The stock was purchased at an average price of $6.64 per share, for a total transaction of $296,343.20.
• On Wednesday, August 27th, James Labe acquired 53,160 shares of TriplePoint Venture Growth BDC stock. The shares were acquired at an average cost of $6.63 per share, for a total transaction of $352,450.80.
• On Tuesday, August 26th, James Labe bought 27,988 shares of TriplePoint Venture Growth BDC stock. The shares were acquired at an average price of $6.48 per share, with a total value of $181,362.24.
• On Monday, August 25th, James Labe bought 80,000 shares of TriplePoint Venture Growth BDC stock. The stock was acquired at an average price of $6.48 per share, with a total value of $518,400.00.
• On Friday, August 22nd, James Labe purchased 42,003 shares of TriplePoint Venture Growth BDC stock. The stock was acquired at an average cost of $6.44 per share, for a total transaction of $270,499.32.
• On Thursday, August 21st, James Labe acquired 31,000 shares of TriplePoint Venture Growth BDC stock. The stock was acquired at an average cost of $6.30 per share, with a total value of $195,300.00.

TriplePoint Venture Growth BDC Stock Performance

TPVG stock traded up $0.01 during midday trading on Thursday, reaching $5.96. 312,419 shares of the company’s stock traded hands, compared to its average volume of 316,972. The firm has a market capitalization of $240.78 million, a PE ratio of 7.01 and a beta of 1.47. The company has a 50-day moving average price of $5.86 and a two-hundred 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.

TriplePoint Venture Growth BDC (NYSE:TPVG) last announced its quarterly earnings results on Wednesday, November 5th. The investment management company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.03). The company had revenue of $22.66 million during the quarter, compared to analysts’ expectations of $24.22 million. TriplePoint Venture Growth BDC had a net margin of 36.02% and a return on equity of 12.88%. As a group, analysts predict that TriplePoint Venture Growth BDC Corp. will post 1.4 EPS for the current fiscal year.

TriplePoint Venture Growth BDC Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Tuesday, December 16th will be given a dividend of $0.23 per share. The ex-dividend date is Tuesday, December 16th. This represents a $0.92 annualized dividend and a dividend yield of 15.4%. TriplePoint Venture Growth BDC’s dividend payout ratio is currently 108.24%.

Hedge Funds Weigh In On TriplePoint Venture Growth BDC

A number of institutional investors have recently made changes to their positions in TPVG. Marshall Wace LLP raised its position in shares of TriplePoint Venture Growth BDC by 44.9% during the 2nd quarter. Marshall Wace LLP now owns 529,201 shares of the investment management company’s stock valued at $3,710,000 after buying an additional 163,916 shares in the last quarter. Legal & General Group Plc grew its position in TriplePoint Venture Growth BDC by 4.5% in the second quarter. Legal & General Group Plc now owns 276,451 shares of the investment management company’s stock worth $1,935,000 after acquiring an additional 11,965 shares in the last quarter. Townsquare Capital LLC increased its stake in TriplePoint Venture Growth BDC by 20.6% in the first quarter. Townsquare Capital LLC now owns 102,318 shares of the investment management company’s stock valued at $714,000 after acquiring an additional 17,445 shares during the last quarter. Samalin Investment Counsel LLC raised its position in TriplePoint Venture Growth BDC by 13.1% during the second quarter. Samalin Investment Counsel LLC now owns 92,636 shares of the investment management company’s stock valued at $649,000 after purchasing an additional 10,730 shares in the last quarter. Finally, Jane Street Group LLC lifted its stake in TriplePoint Venture Growth BDC by 7.3% during the second quarter. Jane Street Group LLC now owns 72,663 shares of the investment management company’s stock worth $509,000 after purchasing an additional 4,970 shares during the last quarter. Institutional investors own 12.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on TPVG. Piper Sandler lowered their price target on shares of TriplePoint Venture Growth BDC from $7.00 to $6.00 and set a “neutral” rating on the stock in a report on Thursday, October 9th. Zacks Research lowered shares of TriplePoint Venture Growth BDC from a “hold” rating to a “strong sell” rating in a report on Friday, November 7th. Weiss Ratings cut shares of TriplePoint Venture Growth BDC from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, November 7th. Finally, UBS Group reduced their price target on shares of 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. Four investment analysts have rated the stock with a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $6.25.

TriplePoint Venture Growth BDC Company Profile

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.