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

TriplePoint Venture Growth BDC (NYSE:TPVG - Get Free Report) posted its quarterly earnings data on Wednesday. The investment management company reported $0.35 EPS for the quarter, beating analysts' consensus estimates of $0.34 by $0.01, Zacks reports. TriplePoint Venture Growth BDC had a net margin of 9.01% and a return on equity of 17.07%. The firm had revenue of $26.52 million for the quarter, compared to the consensus estimate of $25.65 million. During the same period in the prior year, the firm posted $0.54 EPS.

TriplePoint Venture Growth BDC Trading Up 4.4 %

TPVG traded up $0.33 on Friday, reaching $7.87. The company had a trading volume of 496,133 shares, compared to its average volume of 362,146. TriplePoint Venture Growth BDC has a one year low of $6.44 and a one year high of $11.58. The company has a market capitalization of $314.43 million, a P/E ratio of 37.48 and a beta of 1.80. The company has a fifty day moving average of $7.00 and a 200-day moving average of $8.05.

TriplePoint Venture Growth BDC Dividend Announcement

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

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other news, President Sajal Srivastava bought 11,298 shares of the firm's stock in a transaction that occurred on Monday, August 12th. The stock was acquired at an average price of $7.02 per share, with a total value of $79,311.96. Following the completion of the purchase, the president now directly owns 250,858 shares of the company's stock, valued at $1,761,023.16. This represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 0.01% of the stock is owned by corporate insiders.

TriplePoint Venture Growth BDC Company Profile

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.