TriplePoint Venture Growth BDC (NYSE:TPVG) Issues Earnings Results

TriplePoint Venture Growth BDC (NYSE:TPVG) posted its quarterly earnings data on Wednesday. The investment management company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.34 by $0.01, Zacks reports. TriplePoint Venture Growth BDC had a net margin of 9.01% and a return on equity of 17.07%. The firm had revenue of $26.52 million during the quarter, compared to analyst estimates of $25.65 million. During the same quarter last year, the business posted $0.54 EPS.

TriplePoint Venture Growth BDC Stock Up 4.4 %

Shares of NYSE TPVG traded up $0.33 during mid-day trading on Friday, reaching $7.87. 496,133 shares of the company were exchanged, compared to its average volume of 362,146. TriplePoint Venture Growth BDC has a 52 week low of $6.44 and a 52 week high of $11.58. The company’s 50 day moving average price is $7.00 and its 200 day moving average price is $8.05. The stock has a market capitalization of $314.43 million, a PE ratio of 37.48 and a beta of 1.80.

TriplePoint Venture Growth BDC Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 15.25%. The ex-dividend date of this dividend is Friday, December 13th. TriplePoint Venture Growth BDC’s payout ratio is 571.43%.

Insider Buying and Selling at TriplePoint Venture Growth BDC

In other news, President Sajal Srivastava acquired 11,298 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were bought at an average cost of $7.02 per share, with a total value of $79,311.96. Following the acquisition, the president now owns 250,858 shares in the company, valued at approximately $1,761,023.16. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on TPVG. Keefe, Bruyette & Woods upgraded TriplePoint Venture Growth BDC from an “underperform” rating to a “market perform” rating and reduced their price objective for the company from $8.00 to $7.50 in a research note on Thursday. LADENBURG THALM/SH SH lowered shares of TriplePoint Venture Growth BDC from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $8.50 to $8.00 in a research note on Friday, August 9th. Wells Fargo & Company reduced their price objective on TriplePoint Venture Growth BDC from $8.00 to $6.50 and set an “underweight” rating for the company in a report on Tuesday, October 29th. Finally, Piper Sandler lowered their target price on TriplePoint Venture Growth BDC from $8.00 to $7.50 and set a “neutral” rating on the stock in a research note on Thursday. Two investment analysts have rated the stock with a sell rating and five have issued a hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $7.65.

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.