TriplePoint Venture Growth BDC (NYSE:TPVG) Share Price Crosses Below 200 Day Moving Average of $10.35

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG)’s stock price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $10.35 and traded as low as $9.13. TriplePoint Venture Growth BDC shares last traded at $9.23, with a volume of 291,517 shares traded.

Analyst Ratings Changes

TPVG has been the subject of several recent research reports. JMP Securities reiterated a “market perform” rating on shares of TriplePoint Venture Growth BDC in a research note on Thursday, March 7th. Keefe, Bruyette & Woods lowered their price objective on shares of TriplePoint Venture Growth BDC from $9.50 to $9.00 and set an “underperform” rating for the company in a research report on Thursday, March 7th. StockNews.com downgraded shares of TriplePoint Venture Growth BDC from a “hold” rating to a “sell” rating in a research report on Thursday, March 7th. Wells Fargo & Company lowered their price objective on shares of TriplePoint Venture Growth BDC from $11.00 to $9.50 and set an “equal weight” rating for the company in a research report on Thursday, March 7th. Finally, Piper Sandler lowered their price objective on shares of TriplePoint Venture Growth BDC from $11.00 to $10.00 and set a “neutral” rating for the company in a research report on Thursday, March 7th. Two equities research analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. According to MarketBeat.com, TriplePoint Venture Growth BDC has a consensus rating of “Hold” and a consensus target price of $10.38.

TriplePoint Venture Growth BDC Trading Down 0.3 %

The business’s 50 day moving average price is $10.12 and its two-hundred day moving average price is $10.35. The stock has a market cap of $347.04 million, a P/E ratio of -8.39 and a beta of 1.77.

TriplePoint Venture Growth BDC (NYSE:TPVG) last posted its quarterly earnings data on Wednesday, March 6th. The investment management company reported $0.47 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.02). TriplePoint Venture Growth BDC had a positive return on equity of 19.50% and a negative net margin of 28.96%. The business had revenue of $32.97 million for the quarter, compared to the consensus estimate of $33.38 million. As a group, analysts expect that TriplePoint Venture Growth BDC Corp. will post 1.69 earnings per share for the current year.

TriplePoint Venture Growth BDC Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 14th were issued a dividend of $0.40 per share. The ex-dividend date was Wednesday, March 13th. This represents a $1.60 annualized dividend and a dividend yield of 17.34%. TriplePoint Venture Growth BDC’s payout ratio is -145.45%.

Institutional Trading of TriplePoint Venture Growth BDC

Institutional investors and hedge funds have recently modified their holdings of the company. International Assets Investment Management LLC lifted its position in TriplePoint Venture Growth BDC by 1,066.7% during the fourth quarter. International Assets Investment Management LLC now owns 1,265,136 shares of the investment management company’s stock valued at $13,739,000 after purchasing an additional 1,156,701 shares during the last quarter. Van ECK Associates Corp lifted its position in TriplePoint Venture Growth BDC by 12.6% during the fourth quarter. Van ECK Associates Corp now owns 661,530 shares of the investment management company’s stock valued at $7,185,000 after purchasing an additional 73,924 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of TriplePoint Venture Growth BDC by 3,755.7% in the 2nd quarter. Millennium Management LLC now owns 480,955 shares of the investment management company’s stock worth $6,127,000 after acquiring an additional 468,481 shares during the last quarter. Advisors Asset Management Inc. lifted its holdings in shares of TriplePoint Venture Growth BDC by 4.4% in the 1st quarter. Advisors Asset Management Inc. now owns 340,187 shares of the investment management company’s stock worth $4,109,000 after acquiring an additional 14,292 shares during the last quarter. Finally, Two Sigma Advisers LP lifted its holdings in shares of TriplePoint Venture Growth BDC by 26.6% in the 3rd quarter. Two Sigma Advisers LP now owns 294,292 shares of the investment management company’s stock worth $3,196,000 after acquiring an additional 61,800 shares during the last quarter. 12.77% of the stock is currently owned by institutional investors.

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.