TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) Short Interest Update

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) was the target of a large decrease in short interest in the month of December. As of December 31st, there was short interest totalling 1,520,000 shares, a decrease of 21.6% from the December 15th total of 1,940,000 shares. Based on an average daily trading volume, of 406,100 shares, the days-to-cover ratio is currently 3.7 days. Approximately 3.9% of the shares of the stock are short sold.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Quarry LP bought a new position in shares of TriplePoint Venture Growth BDC during the second quarter worth $35,000. EverSource Wealth Advisors LLC bought a new position in shares of TriplePoint Venture Growth BDC in the 2nd quarter valued at about $62,000. McIlrath & Eck LLC acquired a new position in TriplePoint Venture Growth BDC during the third quarter worth approximately $51,000. Dynamic Technology Lab Private Ltd acquired a new stake in TriplePoint Venture Growth BDC during the 3rd quarter valued at $83,000. Finally, Diversify Wealth Management LLC bought a new position in shares of TriplePoint Venture Growth BDC during the third quarter worth approximately $82,000. 12.77% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently issued reports on TPVG. Wells Fargo & Company upped their target price on shares of TriplePoint Venture Growth BDC from $6.50 to $7.50 and gave the stock an “equal weight” rating in a report on Tuesday, November 19th. StockNews.com raised shares of TriplePoint Venture Growth BDC from a “sell” rating to a “hold” rating in a research report on Friday, November 15th. Keefe, Bruyette & Woods raised shares of TriplePoint Venture Growth BDC from an “underperform” rating to a “market perform” rating and reduced their target price for the company from $8.00 to $7.50 in a report on Thursday, November 7th. Piper Sandler lowered their price objective 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, November 7th. Finally, Compass Point increased their target price on shares of TriplePoint Venture Growth BDC from $7.50 to $8.00 and gave the company a “neutral” rating in a research report on Thursday, December 5th. Seven research analysts have rated the stock with a hold rating, According to data from MarketBeat, TriplePoint Venture Growth BDC has a consensus rating of “Hold” and an average price target of $7.70.

TriplePoint Venture Growth BDC Stock Performance

NYSE TPVG traded down $0.13 on Friday, reaching $7.61. The company’s stock had a trading volume of 392,714 shares, compared to its average volume of 285,301. TriplePoint Venture Growth BDC has a twelve month low of $6.44 and a twelve month high of $11.58. The stock has a market cap of $304.58 million, a PE ratio of 36.22 and a beta of 1.88. The firm’s 50 day moving average is $7.76 and its two-hundred day moving average is $7.59.

TriplePoint Venture Growth BDC (NYSE:TPVG) last announced its quarterly earnings results on Wednesday, November 6th. The investment management company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.34 by $0.01. The company had revenue of $26.52 million for the quarter, compared to the consensus estimate of $25.65 million. TriplePoint Venture Growth BDC had a return on equity of 16.86% and a net margin of 9.01%. During the same quarter last year, the company posted $0.54 earnings per share. Equities research analysts anticipate that TriplePoint Venture Growth BDC will post 1.4 EPS for the current fiscal year.

TriplePoint Venture Growth BDC Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 15.78%. The ex-dividend date was Friday, December 13th. TriplePoint Venture Growth BDC’s dividend payout ratio (DPR) is presently 571.46%.

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.