TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) Director Buys $10,470.00 in Stock
TriplePoint Venture Growth BDC Corp. (NYSE:TPVG – Get Free Report) Director Cynthia M. Fornelli purchased 1,000 shares of the business’s stock in a transaction that occurred on Monday, December 18th. The stock was acquired at an average price of $10.47 per share, for a total transaction of $10,470.00. Following the acquisition, the director now owns 8,822 shares in the company, valued at approximately $92,366.34. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
TriplePoint Venture Growth BDC Stock Up 1.3 %
Shares of TriplePoint Venture Growth BDC stock traded up $0.13 during trading on Tuesday, reaching $10.60. The company’s stock had a trading volume of 291,523 shares, compared to its average volume of 243,657. The business has a 50 day moving average price of $10.18 and a 200-day moving average price of $10.94. The company has a market capitalization of $382.37 million, a P/E ratio of -16.34 and a beta of 1.77. TriplePoint Venture Growth BDC Corp. has a 12-month low of $9.13 and a 12-month high of $12.87.
TriplePoint Venture Growth BDC (NYSE:TPVG – Get Free Report) last released its quarterly earnings results on Wednesday, November 1st. The investment management company reported $0.54 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.54. The company had revenue of $35.74 million during the quarter, compared to analysts’ expectations of $35.66 million. TriplePoint Venture Growth BDC had a positive return on equity of 19.41% and a negative net margin of 16.36%. Research analysts predict that TriplePoint Venture Growth BDC Corp. will post 2.05 EPS for the current fiscal year.
TriplePoint Venture Growth BDC Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 15.10%. The ex-dividend date is Thursday, December 14th. TriplePoint Venture Growth BDC’s payout ratio is -250.00%.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently bought and sold shares of TPVG. Raymond James & Associates increased its position in TriplePoint Venture Growth BDC by 16.2% in the 1st quarter. Raymond James & Associates now owns 28,048 shares of the investment management company’s stock valued at $490,000 after acquiring an additional 3,918 shares during the period. HighTower Advisors LLC boosted its position in shares of TriplePoint Venture Growth BDC by 4.7% in the first quarter. HighTower Advisors LLC now owns 36,490 shares of the investment management company’s stock worth $637,000 after buying an additional 1,650 shares during the period. PNC Financial Services Group Inc. boosted its position in shares of TriplePoint Venture Growth BDC by 264.0% in the first quarter. PNC Financial Services Group Inc. now owns 34,470 shares of the investment management company’s stock worth $601,000 after buying an additional 25,000 shares during the period. Lazard Asset Management LLC acquired a new stake in shares of TriplePoint Venture Growth BDC in the first quarter worth $39,000. Finally, UBS Group AG raised its holdings in shares of TriplePoint Venture Growth BDC by 9.6% during the first quarter. UBS Group AG now owns 57,170 shares of the investment management company’s stock worth $998,000 after acquiring an additional 5,031 shares in the last quarter. Hedge funds and other institutional investors own 12.96% of the company’s stock.
Analyst Upgrades and Downgrades
Several research firms have commented on TPVG. Compass Point upgraded TriplePoint Venture Growth BDC from a “sell” rating to a “neutral” rating and set a $9.75 price objective on the stock in a research report on Wednesday, August 23rd. JMP Securities restated a “market outperform” rating and issued a $11.50 price objective on shares of TriplePoint Venture Growth BDC in a research report on Monday, August 21st. Piper Sandler lowered their price objective on TriplePoint Venture Growth BDC from $11.00 to $10.00 and set a “neutral” rating on the stock in a research report on Thursday, November 2nd. Finally, StockNews.com lowered TriplePoint Venture Growth BDC from a “hold” rating to a “sell” rating in a research report on Tuesday, December 5th. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $10.79.
Read Our Latest Stock Report on TPVG
About TriplePoint Venture Growth BDC (Get Free Report)
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.
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