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

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) passed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $5.40 and traded as high as $5.53. TriplePoint Venture Growth BDC shares last traded at $5.4350, with a volume of 194,614 shares changing hands.

Wall Street Analyst Weigh In

TPVG has been the topic of a number of research analyst reports. Wells Fargo & Company cut their target price on TriplePoint Venture Growth BDC from $5.50 to $5.00 and set an “underweight” rating on the stock in a research report on Thursday, March 5th. Weiss Ratings lowered TriplePoint Venture Growth BDC from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, March 12th. Keefe, Bruyette & Woods cut 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 research report on Thursday, March 5th. Piper Sandler cut their target price on TriplePoint Venture Growth BDC from $6.00 to $5.50 and set a “neutral” rating on the stock in a research report on Tuesday, April 7th. Finally, Zacks Research raised TriplePoint Venture Growth BDC from a “strong sell” rating to a “hold” rating in a research report on Friday, May 15th. Four investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $5.63.

TriplePoint Venture Growth BDC Price Performance

The business’s 50 day moving average is $5.40 and its 200 day moving average is $5.79. The stock has a market cap of $220.66 million, a price-to-earnings ratio of 5.13 and a beta of 1.27.

TriplePoint Venture Growth BDC (NYSE:TPVG) last released its quarterly earnings data 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 company had revenue of $19.81 million during the quarter, compared to analyst estimates of $23.14 million. As a group, analysts forecast that TriplePoint Venture Growth BDC Corp. will post 0.95 earnings per share for the current year.

TriplePoint Venture Growth BDC Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 16.9%. The ex-dividend date is Tuesday, June 16th. TriplePoint Venture Growth BDC’s dividend payout ratio is currently 86.79%.

Hedge Funds Weigh In On TriplePoint Venture Growth BDC

Several large investors have recently bought and sold shares of the stock. Two Sigma Investments LP boosted its stake in shares of TriplePoint Venture Growth BDC by 58.6% during the third quarter. Two Sigma Investments LP now owns 612,727 shares of the investment management company’s stock worth $3,535,000 after buying an additional 226,479 shares during the period. Marshall Wace LLP boosted its stake in shares of TriplePoint Venture Growth BDC by 44.9% during the second quarter. Marshall Wace LLP now owns 529,201 shares of the investment management company’s stock worth $3,710,000 after buying an additional 163,916 shares during the period. Trexquant Investment LP boosted its stake in shares of 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 buying an additional 62,023 shares during the period. Norden Group LLC boosted its stake in shares of 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 worth $1,139,000 after buying an additional 104,492 shares during the period. Finally, Jane Street Group LLC boosted its stake in shares of TriplePoint Venture Growth BDC by 7.3% during the second quarter. Jane Street Group LLC now owns 72,663 shares of the investment management company’s stock worth $509,000 after buying an additional 4,970 shares during the period. Institutional investors and hedge funds 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.