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

TriplePoint Venture Growth BDC (NYSE:TPVG) released its quarterly earnings data on Wednesday. The investment management company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.34 by $0.01, Zacks reports. The business had revenue of $26.52 million for the quarter, compared to analyst estimates 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 period in the previous year, the firm earned $0.54 EPS.

TriplePoint Venture Growth BDC Price Performance

TPVG traded up $0.33 during trading hours on Friday, reaching $7.87. 496,133 shares of the stock traded hands, compared to its average volume of 362,146. TriplePoint Venture Growth BDC has a fifty-two week low of $6.44 and a fifty-two week high of $11.58. The company has a market cap of $314.43 million, a price-to-earnings ratio of 37.48 and a beta of 1.80. The firm’s fifty day simple moving average is $7.00 and its two-hundred day simple moving average is $8.05.

TriplePoint Venture Growth BDC Dividend Announcement

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

Insiders Place Their Bets

In other TriplePoint Venture Growth BDC news, President Sajal Srivastava purchased 11,298 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were acquired at an average price of $7.02 per share, for a total transaction of $79,311.96. Following the completion of the purchase, the president now owns 250,858 shares in the company, valued at $1,761,023.16. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.01% of the stock is currently owned by company insiders.

Analyst Ratings Changes

TPVG has been the subject of a number of analyst reports. Wells Fargo & Company cut their price target 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. Piper Sandler cut their price objective on TriplePoint Venture Growth BDC from $8.00 to $7.50 and set a “neutral” rating on the stock in a report on Thursday. LADENBURG THALM/SH SH cut TriplePoint Venture Growth BDC from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $8.50 to $8.00 in a report on Friday, August 9th. Finally, Keefe, Bruyette & Woods raised shares of TriplePoint Venture Growth BDC from an “underperform” rating to a “market perform” rating and reduced their price target for the company from $8.00 to $7.50 in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus 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.