TriplePoint Venture Growth BDC (NYSE:TPVG) Stock Price Crosses 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.

A number of other research analysts have also weighed in on TPVG. Weiss Ratings lowered TriplePoint Venture Growth BDC from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, March 12th. Keefe, Bruyette & Woods dropped their target price on TriplePoint Venture Growth BDC from $7.00 to $6.50 and set a “market perform” rating on the stock in a report on Thursday, March 5th. Wells Fargo & Company dropped their price target on TriplePoint Venture Growth BDC from $5.50 to $5.00 and set an “underweight” rating on the stock in a report on Thursday, March 5th. Finally, Piper Sandler dropped their price target on TriplePoint Venture Growth BDC from $6.00 to $5.50 and set a “neutral” rating on the stock in a report on Tuesday, April 7th. Three investment analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average target price of $5.63.

Institutional Trading of TriplePoint Venture Growth BDC

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Advisory Services Network LLC purchased a new position in TriplePoint Venture Growth BDC during the third quarter worth about $33,000. Northwestern Mutual Wealth Management Co. purchased a new position in TriplePoint Venture Growth BDC during the second quarter worth about $35,000. Rockefeller Capital Management L.P. grew its position in TriplePoint Venture Growth BDC by 75.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 7,000 shares of the investment management company’s stock worth $46,000 after buying an additional 3,000 shares in the last quarter. Farmers & Merchants Investments Inc. grew its position in TriplePoint Venture Growth BDC by 221.7% during the fourth quarter. Farmers & Merchants Investments Inc. now owns 10,293 shares of the investment management company’s stock worth $67,000 after buying an additional 7,093 shares in the last quarter. Finally, AXQ Capital LP purchased a new position in TriplePoint Venture Growth BDC during the fourth quarter worth about $72,000. 12.77% of the stock is currently owned by institutional investors.

TriplePoint Venture Growth BDC Trading Up 4.5%

The business has a fifty day moving average price of $5.25 and a 200-day moving average price of $5.81. The stock has a market capitalization of $228.57 million, a PE ratio of 4.59 and a beta of 1.32.

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

TriplePoint Venture Growth BDC Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Tuesday, March 17th. This represents a $0.92 dividend on an annualized basis and a yield of 16.3%. TriplePoint Venture Growth BDC’s dividend payout ratio is presently 74.80%.

TriplePoint Venture Growth BDC Company Profile

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.