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

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG)’s stock price crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $7.50 and traded as low as $7.36. TriplePoint Venture Growth BDC shares last traded at $7.41, with a volume of 299,654 shares.

Analysts Set New Price Targets

TPVG has been the subject of a number of recent research reports. Compass Point boosted their price objective on shares of TriplePoint Venture Growth BDC from $7.50 to $8.00 and gave the stock a “neutral” rating in a research note on Thursday, December 5th. StockNews.com raised TriplePoint Venture Growth BDC from a “sell” rating to a “hold” rating in a research report on Friday, November 15th. Wells Fargo & Company upped their target price on TriplePoint Venture Growth BDC from $6.50 to $7.50 and gave the company an “equal weight” rating in a research report on Tuesday, November 19th. Finally, Piper Sandler upped their price target on shares of TriplePoint Venture Growth BDC from $7.50 to $8.00 and gave the company a “neutral” rating in a report on Thursday, March 6th. Six research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $7.80.

TriplePoint Venture Growth BDC Price Performance

The firm’s fifty day simple moving average is $7.76 and its 200 day simple moving average is $7.50. The company has a market capitalization of $296.57 million, a PE ratio of 35.19 and a beta of 1.90.

TriplePoint Venture Growth BDC (NYSE:TPVG) last posted its earnings results on Wednesday, March 5th. The investment management company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.03). TriplePoint Venture Growth BDC had a return on equity of 16.86% and a net margin of 9.01%. The firm had revenue of $25.75 million for the quarter, compared to analysts’ expectations of $26.68 million. On average, equities research analysts anticipate that TriplePoint Venture Growth BDC Corp. will post 1.4 EPS for the current fiscal year.

TriplePoint Venture Growth BDC Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be issued a $0.30 dividend. The ex-dividend date is Monday, March 17th. This represents a $1.20 dividend on an annualized basis and a yield of 16.24%. TriplePoint Venture Growth BDC’s payout ratio is 146.34%.

Institutional Trading of TriplePoint Venture Growth BDC

A number of hedge funds have recently bought and sold shares of the business. EverSource Wealth Advisors LLC increased its holdings in shares of TriplePoint Venture Growth BDC by 25.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 10,000 shares of the investment management company’s stock worth $74,000 after buying an additional 2,000 shares during the last quarter. Kovack Advisors Inc. increased its holdings in shares of TriplePoint Venture Growth BDC by 7.8% during the 3rd quarter. Kovack Advisors Inc. now owns 37,100 shares of the investment management company’s stock worth $262,000 after buying an additional 2,700 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of TriplePoint Venture Growth BDC by 1.3% during the 4th quarter. Legal & General Group Plc now owns 264,486 shares of the investment management company’s stock worth $1,951,000 after buying an additional 3,418 shares during the last quarter. Summit Securities Group LLC acquired a new stake in shares of TriplePoint Venture Growth BDC during the 4th quarter worth approximately $41,000. Finally, Diversify Wealth Management LLC boosted its position in shares of TriplePoint Venture Growth BDC by 53.4% during the 4th quarter. Diversify Wealth Management LLC now owns 18,830 shares of the investment management company’s stock worth $142,000 after purchasing an additional 6,553 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 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.