TriplePoint Venture Growth BDC (NYSE:TPVG) Stock Crosses Below Two Hundred Day Moving Average – Time to Sell?

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $5.62 and traded as low as $4.90. TriplePoint Venture Growth BDC shares last traded at $5.0840, with a volume of 183,031 shares changing hands.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. 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 note on Thursday, March 5th. Zacks Research upgraded TriplePoint Venture Growth BDC from a “strong sell” rating to a “hold” rating in a research report on Friday, May 15th. Piper Sandler lowered their price target on TriplePoint Venture Growth BDC from $6.00 to $5.50 and set a “neutral” rating for the company in a research note on Tuesday, April 7th. Keefe, Bruyette & Woods cut their price target on shares of 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. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of TriplePoint Venture Growth BDC in a research note on Tuesday, June 9th. Four investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and an average price target of $5.62.

TriplePoint Venture Growth BDC Stock Up 3.5%

The firm has a market cap of $206.41 million, a price-to-earnings ratio of 4.80 and a beta of 1.28. The company’s fifty day moving average is $5.38 and its 200 day moving average is $5.62.

TriplePoint Venture Growth BDC (NYSE:TPVG) last released its earnings results 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). The company had revenue of $19.81 million for the quarter, compared to the consensus estimate of $23.14 million. TriplePoint Venture Growth BDC had a return on equity of 11.54% and a net margin of 46.77%. On average, equities research analysts forecast that TriplePoint Venture Growth BDC Corp. will post 0.95 EPS for the current fiscal year.

TriplePoint Venture Growth BDC Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 18.1%. The ex-dividend date of this dividend was Tuesday, June 16th. TriplePoint Venture Growth BDC’s dividend payout ratio is presently 86.79%.

Hedge Funds Weigh In On TriplePoint Venture Growth BDC

A number of institutional investors have recently added to or reduced their stakes in TPVG. Cetera Investment Advisers grew its position in shares of TriplePoint Venture Growth BDC by 15.7% in the 1st quarter. Cetera Investment Advisers now owns 54,299 shares of the investment management company’s stock valued at $271,000 after acquiring an additional 7,355 shares during the period. Summit Securities Group LLC raised its holdings in shares of TriplePoint Venture Growth BDC by 257.1% in the 1st quarter. Summit Securities Group LLC now owns 5,000 shares of the investment management company’s stock valued at $25,000 after purchasing an additional 3,600 shares during the period. Rockefeller Capital Management L.P. raised its holdings in shares of TriplePoint Venture Growth BDC by 75.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 7,000 shares of the investment management company’s stock valued at $46,000 after purchasing an additional 3,000 shares during the period. XTX Topco Ltd bought a new stake in shares of TriplePoint Venture Growth BDC in the 4th quarter valued at about $354,000. Finally, Oxford Asset Management LLP acquired a new stake in TriplePoint Venture Growth BDC in the 4th quarter valued at about $74,000. 12.77% of the stock is currently owned by institutional investors and hedge funds.

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.