TriplePoint Venture Growth BDC (NYSE:TPVG) Releases Earnings Results, Beats Expectations By $0.01 EPS

TriplePoint Venture Growth BDC (NYSE:TPVG) posted its earnings results on Wednesday. The investment management company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.34 by $0.01, Zacks reports. TriplePoint Venture Growth BDC had a return on equity of 17.07% and a net margin of 9.01%. The firm had revenue of $26.52 million for the quarter, compared to analyst estimates of $25.65 million. During the same period last year, the company earned $0.54 earnings per share.

TriplePoint Venture Growth BDC Trading Up 4.4 %

TPVG stock traded up $0.33 during trading on Friday, reaching $7.87. 496,133 shares of the stock were exchanged, compared to its average volume of 362,146. The business has a 50 day moving average price of $7.00 and a 200-day moving average price of $8.05. TriplePoint Venture Growth BDC has a 1 year low of $6.44 and a 1 year high of $11.58. The firm has a market capitalization of $314.43 million, a price-to-earnings ratio of 37.48 and a beta of 1.80.

TriplePoint Venture Growth BDC Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 15.25%. The ex-dividend date is Friday, December 13th. TriplePoint Venture Growth BDC’s payout ratio is currently 571.43%.

Insider Transactions at TriplePoint Venture Growth BDC

In related news, President Sajal Srivastava acquired 11,298 shares of TriplePoint Venture Growth BDC stock in a transaction that occurred on Monday, August 12th. The shares were purchased at an average cost of $7.02 per share, for a total transaction of $79,311.96. Following the acquisition, the president now owns 250,858 shares in the company, valued at approximately $1,761,023.16. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on TPVG shares. Wells Fargo & Company dropped their price objective on TriplePoint Venture Growth BDC from $8.00 to $6.50 and set an “underweight” rating on the stock in a report on Tuesday, October 29th. Keefe, Bruyette & Woods raised shares of TriplePoint Venture Growth BDC from an “underperform” rating to a “market perform” rating and cut their price target for the stock from $8.00 to $7.50 in a report on Thursday. LADENBURG THALM/SH SH downgraded shares of TriplePoint Venture Growth BDC from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $8.50 to $8.00 in a report on Friday, August 9th. Finally, Piper Sandler dropped their price target on TriplePoint Venture Growth BDC from $8.00 to $7.50 and set a “neutral” rating for the company in a research report on Thursday. Two research analysts have rated the stock with a sell rating and five have given a hold rating to the stock. Based on data from MarketBeat, TriplePoint Venture Growth BDC currently has an average rating of “Hold” and a consensus price target of $7.65.

About TriplePoint Venture Growth BDC

TriplePoint Venture Growth BDC Corp. is a business development company specializing investments in venture capital-backed companies at the growth stage investments. It also provides debt financing to venture growth space companies which includes growth capital loans, secured and customized loans, equipment financings, revolving loans and direct equity investments.