TriplePoint Venture Growth BDC (NYSE:TPVG) Announces Earnings Results, Misses Expectations By $0.06 EPS

TriplePoint Venture Growth BDC (NYSE:TPVG) released its earnings results on Wednesday. The investment management company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.06), FiscalAI reports. TriplePoint Venture Growth BDC had a net margin of 36.02% and a return on equity of 12.88%. The firm had revenue of $3.42 million during the quarter, compared to the consensus estimate of $23.78 million.

TriplePoint Venture Growth BDC Trading Down 0.8%

Shares of TriplePoint Venture Growth BDC stock traded down $0.04 during trading on Wednesday, hitting $5.28. 304,603 shares of the stock were exchanged, compared to its average volume of 376,954. The company has a fifty day moving average price of $6.09 and a 200-day moving average price of $6.10. The stock has a market capitalization of $213.31 million, a price-to-earnings ratio of 6.21 and a beta of 1.37. TriplePoint Venture Growth BDC has a 1-year low of $5.03 and a 1-year high of $7.97.

Insider Activity at TriplePoint Venture Growth BDC

In other TriplePoint Venture Growth BDC news, insider Sajal Srivastava bought 47,741 shares of the firm’s stock in a transaction that occurred on Friday, December 5th. The shares were acquired at an average cost of $6.81 per share, with a total value of $325,116.21. Following the acquisition, the insider owned 1,318,220 shares of the company’s stock, valued at $8,977,078.20. The trade was a 3.76% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO James Labe purchased 47,741 shares of the business’s stock in a transaction on Friday, December 5th. The shares were acquired at an average cost of $6.81 per share, with a total value of $325,116.21. Following the acquisition, the chief executive officer directly owned 1,318,220 shares in the company, valued at approximately $8,977,078.20. The trade was a 3.76% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have bought a total of 1,413,608 shares of company stock valued at $9,172,029 over the last quarter. 1.46% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Jane Street Group LLC lifted its position in TriplePoint Venture Growth BDC by 28.1% during the first quarter. Jane Street Group LLC now owns 67,693 shares of the investment management company’s stock worth $472,000 after acquiring an additional 14,865 shares during the last quarter. Northwestern Mutual Wealth Management Co. bought a new position in shares of TriplePoint Venture Growth BDC during the second quarter worth approximately $35,000. Marshall Wace LLP lifted its holdings in TriplePoint Venture Growth BDC by 44.9% during the 2nd quarter. Marshall Wace LLP now owns 529,201 shares of the investment management company’s stock worth $3,710,000 after purchasing an additional 163,916 shares during the last quarter. Osaic Holdings Inc. boosted its stake in TriplePoint Venture Growth BDC by 75.6% in the 2nd quarter. Osaic Holdings Inc. now owns 35,945 shares of the investment management company’s stock valued at $252,000 after purchasing an additional 15,478 shares during the period. Finally, Two Sigma Investments LP boosted its stake in TriplePoint Venture Growth BDC by 58.6% in the 3rd quarter. Two Sigma Investments LP now owns 612,727 shares of the investment management company’s stock valued at $3,535,000 after purchasing an additional 226,479 shares during the period. Institutional investors and hedge funds own 12.77% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of TriplePoint Venture Growth BDC from a “sell” rating to a “hold” rating in a report on Saturday, December 6th. Zacks Research raised shares of TriplePoint Venture Growth BDC from a “strong sell” rating to a “hold” rating in a research report on Monday, December 8th. Finally, Weiss Ratings upgraded TriplePoint Venture Growth BDC from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, February 9th. Six investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Reduce” and an average target price of $6.25.

About TriplePoint Venture Growth BDC

TriplePoint Venture Growth BDC Inc is a closed-end management investment company externally managed by TriplePoint Capital LLC. The firm specializes in providing customized debt and equity financing to growth-stage, venture capital– and private equity–backed companies. Its financing solutions include senior secured loans, unitranche facilities, subordinated debt and selective equity co-investments tailored to support expansion, working capital needs and strategic initiatives.

Launched in September 2018 and listed on the New York Stock Exchange under the symbol TPVG, TriplePoint Venture Growth BDC leverages the deep industry expertise and established underwriting capabilities of TriplePoint Capital, a venture lender since 2003.