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

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

TriplePoint Venture Growth BDC Price Performance

Shares of 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 stock’s 50-day moving average is $7.00 and its two-hundred day moving average is $8.05. TriplePoint Venture Growth BDC has a 52-week low of $6.44 and a 52-week high of $11.58. The stock has a market capitalization of $314.43 million, a P/E ratio of 37.48 and a beta of 1.80.

TriplePoint Venture Growth BDC Announces Dividend

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

Insider Transactions at TriplePoint Venture Growth BDC

In other news, President Sajal Srivastava acquired 11,298 shares of TriplePoint Venture Growth BDC stock in a transaction that occurred on Monday, August 12th. The stock was purchased at an average price 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. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.01% of the company’s stock.

Wall Street Analyst Weigh In

TPVG has been the topic of several analyst reports. Keefe, Bruyette & Woods raised 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 report on Thursday. LADENBURG THALM/SH SH cut shares of TriplePoint Venture Growth BDC from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $8.50 to $8.00 in a research report on Friday, August 9th. Wells Fargo & Company dropped their target price on TriplePoint Venture Growth BDC from $8.00 to $6.50 and set an “underweight” rating on the stock in a report on Tuesday, October 29th. Finally, Piper Sandler decreased their price target on TriplePoint Venture Growth BDC from $8.00 to $7.50 and set a “neutral” rating for the company in a report on Thursday. Two research analysts have rated the stock with a sell rating and five have issued a hold rating to the company. Based on data from MarketBeat, TriplePoint Venture Growth BDC presently has an average rating of “Hold” and an average target price of $7.65.

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.