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

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

TriplePoint Venture Growth BDC Price Performance

Shares of NYSE:TPVG traded down $0.13 during trading on Friday, hitting $7.61. 392,714 shares of the company’s stock were exchanged, compared to its average volume of 285,301. TriplePoint Venture Growth BDC has a 52-week low of $6.44 and a 52-week high of $11.58. The business’s 50-day simple moving average is $7.76 and its 200 day simple moving average is $7.58. The company has a market cap of $304.58 million, a price-to-earnings ratio of 36.22 and a beta of 1.88.

TriplePoint Venture Growth BDC (NYSE:TPVG) last issued its earnings results on Wednesday, November 6th. The investment management company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. The firm had revenue of $26.52 million during the quarter, compared to analyst estimates of $25.65 million. TriplePoint Venture Growth BDC had a net margin of 9.01% and a return on equity of 16.86%. During the same quarter in the prior year, the business earned $0.54 earnings per share. On average, sell-side analysts anticipate that TriplePoint Venture Growth BDC will post 1.4 EPS for the current fiscal year.

TriplePoint Venture Growth BDC Dividend Announcement

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

Hedge Funds Weigh In On TriplePoint Venture Growth BDC

Several institutional investors have recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC boosted its position in shares of TriplePoint Venture Growth BDC by 4.5% during the 2nd quarter. Commonwealth Equity Services LLC now owns 31,132 shares of the investment management company’s stock valued at $250,000 after acquiring an additional 1,346 shares during the last quarter. Kovack Advisors Inc. raised its stake in shares of TriplePoint Venture Growth BDC by 7.8% in the third quarter. Kovack Advisors Inc. now owns 37,100 shares of the investment management company’s stock valued at $262,000 after acquiring an additional 2,700 shares during the period. Diversify Advisory Services LLC lifted its holdings in shares of TriplePoint Venture Growth BDC by 31.2% in the 3rd quarter. Diversify Advisory Services LLC now owns 14,191 shares of the investment management company’s stock worth $94,000 after acquiring an additional 3,378 shares during the last quarter. Quarry LP bought a new position in TriplePoint Venture Growth BDC during the 2nd quarter valued at about $35,000. Finally, Diversify Wealth Management LLC raised its position in TriplePoint Venture Growth BDC by 53.4% in 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. Hedge funds and other institutional investors own 12.77% of the company’s stock.

Wall Street Analyst Weigh In

TPVG has been the subject of a number of recent research reports. Wells Fargo & Company boosted their price objective on shares of 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. StockNews.com raised TriplePoint Venture Growth BDC from a “sell” rating to a “hold” rating in a report on Friday, November 15th. Compass Point raised their price objective on 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. 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 research report on Thursday, November 7th. Finally, Piper Sandler decreased their target price on shares of TriplePoint Venture Growth BDC from $8.00 to $7.50 and set a “neutral” rating on the stock in a research note on Thursday, November 7th. Seven research analysts have rated the stock with a hold rating, According to MarketBeat, TriplePoint Venture Growth BDC currently has an average rating of “Hold” and a consensus target price of $7.70.

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.