TriplePoint Venture Growth BDC (NYSE:TPVG) Share Price Crosses Below 200-Day Moving Average of $8.71

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG)’s stock price crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $8.71 and traded as low as $7.12. TriplePoint Venture Growth BDC shares last traded at $7.23, with a volume of 340,105 shares changing hands.

Analyst Ratings Changes

TPVG has been the subject of several recent analyst reports. Piper Sandler lowered their target price on TriplePoint Venture Growth BDC from $9.50 to $8.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Wells Fargo & Company restated an “underweight” rating and set a $8.50 price objective (down previously from $9.50) on shares of TriplePoint Venture Growth BDC in a research note on Wednesday, May 29th. LADENBURG THALM/SH SH lowered TriplePoint Venture Growth BDC from a “buy” rating to a “neutral” rating and cut their target price for the company from $8.50 to $8.00 in a research report on Friday, August 9th. Finally, Keefe, Bruyette & Woods decreased their price target on shares of TriplePoint Venture Growth BDC from $9.00 to $8.00 and set an “underperform” rating for the company in a research report on Friday, August 9th. Three analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $8.25.

TriplePoint Venture Growth BDC Trading Down 4.3 %

The company has a 50-day moving average of $7.87 and a 200-day moving average of $8.70. The firm has a market capitalization of $277.25 million, a price-to-earnings ratio of -6.25 and a beta of 1.79.

TriplePoint Venture Growth BDC (NYSE:TPVG) last issued its earnings results on Wednesday, August 7th. The investment management company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.10). TriplePoint Venture Growth BDC had a positive return on equity of 18.24% and a negative net margin of 8.03%. The business had revenue of $27.11 million for the quarter, compared to analyst estimates of $28.77 million. During the same period last year, the company posted $0.53 earnings per share. On average, research analysts forecast that TriplePoint Venture Growth BDC Corp. will post 1.4 earnings per share for the current year.

TriplePoint Venture Growth BDC Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be issued a $0.30 dividend. The ex-dividend date is Monday, September 16th. This represents a $1.20 dividend on an annualized basis and a yield of 17.29%. TriplePoint Venture Growth BDC’s dividend payout ratio is currently -108.11%.

Insider Activity

In related news, President Sajal Srivastava bought 11,298 shares of the company’s stock in a transaction on Monday, August 12th. The shares were purchased at an average cost of $7.02 per share, with a total value of $79,311.96. Following the completion of the transaction, the president now directly owns 250,858 shares of the company’s stock, valued at $1,761,023.16. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.01% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Quarry LP grew its position in TriplePoint Venture Growth BDC by 43.7% in the 4th quarter. Quarry LP now owns 3,143 shares of the investment management company’s stock valued at $34,000 after buying an additional 956 shares in the last quarter. EverSource Wealth Advisors LLC acquired a new position in shares of TriplePoint Venture Growth BDC during the 2nd quarter valued at $62,000. Cape Investment Advisory Inc. bought a new stake in shares of TriplePoint Venture Growth BDC in the 4th quarter worth $79,000. Farmers & Merchants Investments Inc. lifted its holdings in shares of TriplePoint Venture Growth BDC by 116.9% in the first quarter. Farmers & Merchants Investments Inc. now owns 9,833 shares of the investment management company’s stock valued at $93,000 after buying an additional 5,300 shares during the period. Finally, Hartline Investment Corp bought a new position in TriplePoint Venture Growth BDC during the first quarter valued at about $98,000. Institutional investors own 12.77% of the company’s stock.

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.