TriplePoint Venture Growth BDC (NYSE:TPVG) Stock Price Crosses Above 50 Day Moving Average – Should You Sell?

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) shares passed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $5.01 and traded as high as $5.29. TriplePoint Venture Growth BDC shares last traded at $5.1760, with a volume of 398,746 shares changing hands.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on TPVG. Piper Sandler lowered their price target on TriplePoint Venture Growth BDC from $5.50 to $5.00 and set a “neutral” rating on the stock in a report on Monday, July 13th. Weiss Ratings downgraded TriplePoint Venture Growth BDC from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, September 1st. Finally, Keefe, Bruyette & Woods decreased their price objective on TriplePoint Venture Growth BDC from $6.00 to $5.50 and set a “market perform” rating for the company in a research report on Thursday, August 6th. Four equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of $5.25.

TriplePoint Venture Growth BDC Trading Down 6.0%

The business’s 50-day simple moving average is $5.02 and its 200-day simple moving average is $5.17. The company has a market cap of $195.61 million, a PE ratio of 4.85 and a beta of 1.31.

TriplePoint Venture Growth BDC (NYSE:TPVG) last posted its quarterly earnings results on Wednesday, August 5th. The investment management company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.24 by $0.02. TriplePoint Venture Growth BDC had a net margin of 44.58% and a return on equity of 10.68%. The business had revenue of $24.48 million for the quarter, compared to analysts’ expectations of $22.88 million. On average, research analysts predict that TriplePoint Venture Growth BDC Corp. will post 0.94 earnings per share for the current fiscal year.

TriplePoint Venture Growth BDC Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 30th. Investors of record on Wednesday, December 16th will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Wednesday, December 16th. This represents a $0.24 dividend on an annualized basis and a yield of 5.0%. TriplePoint Venture Growth BDC’s dividend payout ratio (DPR) is presently 92.93%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its position in shares of TriplePoint Venture Growth BDC by 19.9% during the 2nd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 14,659 shares of the investment management company’s stock worth $72,000 after purchasing an additional 2,435 shares during the last quarter. Rockefeller Capital Management L.P. grew its holdings in TriplePoint Venture Growth BDC by 75.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 7,000 shares of the investment management company’s stock valued at $46,000 after buying an additional 3,000 shares during the last quarter. Summit Securities Group LLC increased its position in TriplePoint Venture Growth BDC by 257.1% in the 1st quarter. Summit Securities Group LLC now owns 5,000 shares of the investment management company’s stock worth $25,000 after buying an additional 3,600 shares during the period. Cetera Investment Advisers increased its position in TriplePoint Venture Growth BDC by 15.7% in the 1st quarter. Cetera Investment Advisers now owns 54,299 shares of the investment management company’s stock worth $271,000 after buying an additional 7,355 shares during the period. Finally, AXQ Capital LP acquired a new position in shares of TriplePoint Venture Growth BDC during the fourth quarter worth approximately $72,000. 12.77% of the stock is owned by institutional investors and hedge funds.

About TriplePoint Venture Growth BDC

TriplePoint Venture Growth BDC Corp. is a business development company that provides financing to venture growth-stage companies. The company primarily supports businesses backed by venture capital or private equity investors, offering capital to help fund expansion, acquisitions, working capital needs and other corporate purposes.

TriplePoint Venture Growth typically invests through secured loans, including term loans and other forms of debt financing. It may also receive warrants or make equity investments in portfolio companies, allowing it to participate in their potential growth.