TriplePoint Venture Growth BDC (NYSE:TPVG) CEO James Labe Acquires 27,439 Shares of Stock

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) CEO James Labe purchased 27,439 shares of the company’s stock in a transaction dated Tuesday, November 18th. The stock was purchased at an average price of $6.06 per share, with a total value of $166,280.34. Following the completion of the purchase, the chief executive officer directly owned 836,139 shares in the company, valued at $5,067,002.34. The trade was a 3.39% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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

• On Monday, November 17th, James Labe purchased 44,648 shares of TriplePoint Venture Growth BDC stock. The shares were purchased at an average cost of $6.06 per share, for a total transaction of $270,566.88.
• On Friday, November 14th, James Labe acquired 46,700 shares of TriplePoint Venture Growth BDC stock. The stock was purchased at an average cost of $5.99 per share, with a total value of $279,733.00.
• On Wednesday, November 12th, James Labe acquired 50,000 shares of TriplePoint Venture Growth BDC stock. The stock was acquired at an average price of $5.95 per share, with a total value of $297,500.00.
• On Tuesday, November 11th, James Labe bought 26,117 shares of TriplePoint Venture Growth BDC stock. The shares were acquired at an average cost of $5.76 per share, for a total transaction of $150,433.92.
• On Wednesday, September 3rd, James Labe acquired 48,800 shares of TriplePoint Venture Growth BDC stock. The stock was acquired at an average cost 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 stock was bought at an average price of $6.72 per share, for a total transaction of $362,880.00.
• On Friday, August 29th, James Labe acquired 65,000 shares of TriplePoint Venture Growth BDC stock. The stock was bought at an average cost of $6.73 per share, for a total transaction of $437,450.00.
• On Thursday, August 28th, James Labe purchased 44,630 shares of TriplePoint Venture Growth BDC stock. The shares were purchased at an average price of $6.64 per share, with a total value of $296,343.20.
• On Wednesday, August 27th, James Labe acquired 53,160 shares of TriplePoint Venture Growth BDC stock. The shares were purchased at an average price of $6.63 per share, with a total value of $352,450.80.
• On Tuesday, August 26th, James Labe acquired 27,988 shares of TriplePoint Venture Growth BDC stock. The shares were bought at an average price of $6.48 per share, for a total transaction of $181,362.24.

TriplePoint Venture Growth BDC Price Performance

Shares of TPVG traded up $0.19 during trading hours on Thursday, hitting $6.32. The stock had a trading volume of 75,309 shares, compared to its average volume of 318,498. TriplePoint Venture Growth BDC Corp. has a 1-year low of $5.24 and a 1-year high of $8.50. The firm has a market capitalization of $255.33 million, a P/E ratio of 7.44 and a beta of 1.47. The firm has a 50 day simple moving average of $5.79 and a 200-day simple moving average of $6.44.

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 (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.03). The firm had revenue of $22.66 million during 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%. Equities analysts predict that TriplePoint Venture Growth BDC Corp. will post 1.4 EPS for the current fiscal year.

TriplePoint Venture Growth BDC Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Tuesday, December 16th will be given a $0.23 dividend. The ex-dividend date of this dividend is Tuesday, December 16th. This represents a $0.92 annualized dividend and a yield of 14.6%. TriplePoint Venture Growth BDC’s payout ratio is currently 108.24%.

Institutional Trading of TriplePoint Venture Growth BDC

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Advisory Services Network LLC purchased a new position in shares of TriplePoint Venture Growth BDC in the third quarter worth $33,000. CANADA LIFE ASSURANCE Co grew its stake in shares of TriplePoint Venture Growth BDC by 35.5% in the third quarter. CANADA LIFE ASSURANCE Co now owns 51,515 shares of the investment management company’s stock worth $296,000 after purchasing an additional 13,490 shares during the last quarter. Verition Fund Management LLC increased its holdings in TriplePoint Venture Growth BDC by 14.1% during the 3rd quarter. Verition Fund Management LLC now owns 22,677 shares of the investment management company’s stock valued at $131,000 after purchasing an additional 2,800 shares during the period. Millennium Management LLC purchased a new stake in TriplePoint Venture Growth BDC in the 3rd quarter worth approximately $134,000. Finally, Brevan Howard Capital Management LP purchased a new position in shares of TriplePoint Venture Growth BDC during the third quarter valued at approximately $165,000. Institutional investors own 12.77% of the company’s stock.

Wall Street Analyst Weigh In

TPVG has been the topic of several research analyst reports. Piper Sandler dropped their price objective on 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. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of TriplePoint Venture Growth BDC in a research report on Thursday, November 13th. Zacks Research lowered TriplePoint Venture Growth BDC from a “hold” rating to a “strong sell” rating in a report on Friday, November 7th. Finally, UBS Group dropped their price objective on shares of TriplePoint Venture Growth BDC from $6.50 to $5.50 and set a “neutral” rating on the stock in a 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 company. According to data from MarketBeat, the company has an average rating of “Reduce” and a consensus 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.