TriplePoint Venture Growth BDC (NYSE:TPVG) Stock Price Passes Below Two Hundred Day Moving Average on Analyst Downgrade

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) crossed below its 200-day moving average during trading on Friday after Zacks Research downgraded the stock from a hold rating to a strong sell rating. The stock has a 200-day moving average of $5.81 and traded as low as $5.43. TriplePoint Venture Growth BDC shares last traded at $5.6450, with a volume of 483,982 shares.

Other research analysts have also recently issued reports about the company. Piper Sandler lowered their price objective on TriplePoint Venture Growth BDC from $6.00 to $5.50 and set a “neutral” rating for the company in a research note on Tuesday, April 7th. Wells Fargo & Company decreased their price target on shares of TriplePoint Venture Growth BDC from $5.50 to $5.00 and set an “underweight” rating for the company in a research report on Thursday, March 5th. Keefe, Bruyette & Woods reduced their price objective on shares of 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. Finally, Weiss Ratings lowered TriplePoint Venture Growth BDC from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, March 12th. Three analysts have rated the stock with a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Reduce” and an average target price of $5.63.

Institutional Trading of TriplePoint Venture Growth BDC

Hedge funds have recently added to or reduced their stakes in the stock. Two Sigma Investments LP lifted its position in shares of TriplePoint Venture Growth BDC by 58.6% during 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 buying an additional 226,479 shares during the last quarter. Marshall Wace LLP raised its stake in TriplePoint Venture Growth BDC by 44.9% in the 2nd quarter. Marshall Wace LLP now owns 529,201 shares of the investment management company’s stock valued at $3,710,000 after acquiring an additional 163,916 shares during the period. Norden Group LLC lifted its holdings in TriplePoint Venture Growth BDC by 150.1% during the fourth quarter. Norden Group LLC now owns 174,090 shares of the investment management company’s stock valued at $1,139,000 after purchasing an additional 104,492 shares during the last quarter. Trexquant Investment LP boosted its position in TriplePoint Venture Growth BDC by 48.1% during the fourth quarter. Trexquant Investment LP now owns 190,996 shares of the investment management company’s stock worth $1,249,000 after purchasing an additional 62,023 shares during the period. Finally, XTX Topco Ltd bought a new position in TriplePoint Venture Growth BDC during the fourth quarter worth about $354,000. Institutional investors own 12.77% of the company’s stock.

TriplePoint Venture Growth BDC Stock Performance

The business has a 50 day moving average of $5.25 and a 200-day moving average of $5.81. The company has a market capitalization of $228.57 million, a P/E ratio of 4.59 and a beta of 1.32.

TriplePoint Venture Growth BDC (NYSE:TPVG) last posted its quarterly earnings data on Wednesday, March 4th. The investment management company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.01). The business had revenue of $3.42 million for the quarter, compared to the consensus estimate of $23.78 million. TriplePoint Venture Growth BDC had a net margin of 54.12% and a return on equity of 12.04%. As a group, equities analysts forecast that TriplePoint Venture Growth BDC Corp. will post 1.4 EPS for the current fiscal year.

TriplePoint Venture Growth BDC Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th were given a $0.23 dividend. The ex-dividend date was Tuesday, March 17th. This represents a $0.92 annualized dividend and a yield of 16.3%. TriplePoint Venture Growth BDC’s payout ratio is 74.80%.

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.