TriplePoint Venture Growth BDC (NYSE:TPVG) Stock Passes Below 200-Day Moving Average – Here’s Why

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $5.81 and traded as low as $5.53. TriplePoint Venture Growth BDC shares last traded at $5.6890, with a volume of 172,141 shares traded.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Wells Fargo & Company reduced their price objective on TriplePoint Venture Growth BDC from $5.50 to $5.00 and set an “underweight” rating on the stock in a research note on Thursday, March 5th. Piper Sandler reduced their price objective on TriplePoint Venture Growth BDC from $6.00 to $5.50 and set a “neutral” rating on the stock in a research note on Tuesday, April 7th. Weiss Ratings cut TriplePoint Venture Growth BDC from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, March 12th. Zacks Research raised TriplePoint Venture Growth BDC from a “strong sell” rating to a “hold” rating in a research note on Friday, May 15th. Finally, Keefe, Bruyette & Woods reduced their price objective on TriplePoint Venture Growth BDC from $7.00 to $6.50 and set a “market perform” rating on the stock in a research note on Thursday, March 5th. Four research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Reduce” and an average price target of $5.63.

TriplePoint Venture Growth BDC Price Performance

The company has a 50-day simple moving average of $5.28 and a 200-day simple moving average of $5.80. The firm has a market cap of $225.94 million, a PE ratio of 5.25 and a beta of 1.28.

TriplePoint Venture Growth BDC (NYSE:TPVG) last announced its earnings results on Wednesday, May 6th. The investment management company reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.02). TriplePoint Venture Growth BDC had a net margin of 46.77% and a return on equity of 11.54%. The business had revenue of $19.81 million for the quarter, compared to analysts’ expectations of $23.14 million. As a group, equities research analysts predict that TriplePoint Venture Growth BDC Corp. will post 0.95 earnings per share for the current year.

TriplePoint Venture Growth BDC Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th will be issued a $0.23 dividend. The ex-dividend date is Tuesday, June 16th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 16.5%. TriplePoint Venture Growth BDC’s payout ratio is presently 86.79%.

Institutional Trading of TriplePoint Venture Growth BDC

A number of large investors have recently modified their holdings of the company. Kovack Advisors Inc. boosted its holdings in shares of TriplePoint Venture Growth BDC by 4.4% in the third quarter. Kovack Advisors Inc. now owns 52,519 shares of the investment management company’s stock valued at $303,000 after purchasing an additional 2,200 shares during the period. CANADA LIFE ASSURANCE Co boosted its holdings in shares of TriplePoint Venture Growth BDC by 4.4% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 53,793 shares of the investment management company’s stock valued at $351,000 after purchasing an additional 2,278 shares during the period. Verition Fund Management LLC boosted its holdings in shares of TriplePoint Venture Growth BDC by 14.1% in the third quarter. Verition Fund Management LLC now owns 22,677 shares of the investment management company’s stock valued at $131,000 after purchasing an additional 2,800 shares during the period. O Shaughnessy Asset Management LLC boosted its holdings in shares of TriplePoint Venture Growth BDC by 13.8% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 24,152 shares of the investment management company’s stock valued at $158,000 after purchasing an additional 2,921 shares during the period. Finally, Rockefeller Capital Management L.P. boosted its holdings in shares of TriplePoint Venture Growth BDC by 75.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 7,000 shares of the investment management company’s stock valued at $46,000 after purchasing an additional 3,000 shares during the period. Hedge funds and other institutional investors own 12.77% of the company’s stock.

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.