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

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) CEO James Labe acquired 50,000 shares of the firm’s stock in a transaction on Monday, November 24th. The stock was purchased at an average price of $6.31 per share, with a total value of $315,500.00. Following the acquisition, the chief executive officer owned 1,018,898 shares of the company’s stock, valued at $6,429,246.38. This represents a 5.16% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

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

• On Friday, November 21st, James Labe bought 39,760 shares of TriplePoint Venture Growth BDC stock. The stock was acquired at an average cost of $6.30 per share, for a total transaction of $250,488.00.
• On Thursday, November 20th, James Labe acquired 42,999 shares of TriplePoint Venture Growth BDC stock. The shares were acquired at an average cost of $6.28 per share, for a total transaction of $270,033.72.
• On Wednesday, November 19th, James Labe acquired 50,000 shares of TriplePoint Venture Growth BDC stock. The stock was acquired at an average price of $6.19 per share, for a total transaction of $309,500.00.
• On Tuesday, November 18th, James Labe purchased 27,439 shares of TriplePoint Venture Growth BDC stock. The stock was bought at an average price of $6.06 per share, for a total transaction of $166,280.34.
• On Monday, November 17th, James Labe bought 44,648 shares of TriplePoint Venture Growth BDC stock. The stock was bought 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 shares were purchased at an average price of $5.99 per share, with a total value of $279,733.00.
• On Wednesday, November 12th, James Labe bought 50,000 shares of TriplePoint Venture Growth BDC stock. The stock was purchased at an average cost 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 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 purchased 48,800 shares of TriplePoint Venture Growth BDC stock. The shares were purchased at an average cost of $6.77 per share, with a total value of $330,376.00.
• On Tuesday, September 2nd, James Labe purchased 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

TriplePoint Venture Growth BDC stock opened at $6.39 on Wednesday. TriplePoint Venture Growth BDC Corp. has a one year low of $5.24 and a one year high of $8.50. The business’s fifty day moving average is $5.77 and its 200 day moving average is $6.45. The stock has a market capitalization of $257.95 million, a PE ratio of 7.51 and a beta of 1.47.

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

TriplePoint Venture Growth BDC Announces Dividend

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 given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 14.4%. The ex-dividend date is Tuesday, December 16th. TriplePoint Venture Growth BDC’s dividend payout ratio is 108.24%.

Institutional Investors Weigh In On TriplePoint Venture Growth BDC

A number of institutional investors have recently bought and sold shares of TPVG. Nomura Asset Management Co. Ltd. bought a new stake in TriplePoint Venture Growth BDC during the second quarter valued at about $26,000. Quarry LP grew its position in shares of TriplePoint Venture Growth BDC by 53.6% during the first quarter. Quarry LP now owns 4,669 shares of the investment management company’s stock worth $33,000 after purchasing an additional 1,629 shares in the last quarter. Advisory Services Network LLC bought a new stake in TriplePoint Venture Growth BDC during the 3rd quarter valued at approximately $33,000. Northwestern Mutual Wealth Management Co. purchased a new position in TriplePoint Venture Growth BDC in the 2nd quarter worth approximately $35,000. Finally, Private Advisor Group LLC bought a new position in TriplePoint Venture Growth BDC in the 1st quarter worth approximately $72,000. Hedge funds and other institutional investors own 12.77% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on TPVG shares. Wall Street Zen cut TriplePoint Venture Growth BDC from a “hold” rating to a “sell” rating in a research report on Saturday. Piper Sandler dropped 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 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 research report on Friday, November 7th. UBS Group reduced their target price on shares of TriplePoint Venture Growth BDC from $6.50 to $5.50 and set a “neutral” rating for the company in a report on Tuesday, October 14th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of TriplePoint Venture Growth BDC in a research note on Wednesday, November 19th. Four analysts have rated the stock with a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and an average price target 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.