TriplePoint Venture Growth BDC (NYSE:TPVG) Posts Quarterly Earnings Results, Beats Estimates By $0.01 EPS

TriplePoint Venture Growth BDC (NYSE:TPVG) announced its quarterly earnings results on Wednesday. The investment management company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $25.65 million. During the same period in the prior year, the firm posted $0.54 earnings per share.

TriplePoint Venture Growth BDC Stock Up 4.4 %

NYSE:TPVG traded up $0.33 on Friday, reaching $7.87. The company’s stock had a trading volume of 496,133 shares, compared to its average volume of 362,146. The firm has a market cap of $314.43 million, a price-to-earnings ratio of 37.48 and a beta of 1.80. TriplePoint Venture Growth BDC has a 12-month low of $6.44 and a 12-month high of $11.58. The stock has a 50 day moving average price of $7.00 and a 200 day moving average price of $8.05.

TriplePoint Venture Growth BDC Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be given a $0.30 dividend. The ex-dividend date is Friday, December 13th. This represents a $1.20 annualized dividend and a yield of 15.25%. TriplePoint Venture Growth BDC’s payout ratio is 571.43%.

Insider Buying and Selling

In related news, President Sajal Srivastava purchased 11,298 shares of the company’s stock in a transaction on Monday, August 12th. The stock was acquired at an average cost of $7.02 per share, for a total transaction of $79,311.96. Following the completion of the transaction, the president now directly owns 250,858 shares in the company, valued at approximately $1,761,023.16. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.01% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on TPVG. Wells Fargo & Company cut their price target on shares of 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. Keefe, Bruyette & Woods upgraded shares of TriplePoint Venture Growth BDC from an “underperform” rating to a “market perform” rating and reduced their target price for the company from $8.00 to $7.50 in a research report on Thursday. Piper Sandler decreased their target price on shares of TriplePoint Venture Growth BDC from $8.00 to $7.50 and set a “neutral” rating on the stock in a research note on Thursday. Finally, LADENBURG THALM/SH SH lowered TriplePoint Venture Growth BDC from a “buy” rating to a “neutral” rating and dropped their price target for the company from $8.50 to $8.00 in a research report on Friday, August 9th. 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, the stock presently has a consensus rating of “Hold” and a consensus 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.