TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) Sees Significant Decline in Short Interest

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) was the target of a large drop in short interest in 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 company’s stock 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 company has a market cap of $304.58 million, a price-to-earnings ratio of 36.22 and a beta of 1.88. The business’s 50-day simple moving average is $7.76 and its 200 day simple moving average is $7.59.

TriplePoint Venture Growth BDC (NYSE:TPVG) last released its quarterly earnings results on Wednesday, November 6th. The investment management company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.34 by $0.01. TriplePoint Venture Growth BDC had a return on equity of 16.86% and a net margin of 9.01%. The company had revenue of $26.52 million during the quarter, compared to analyst estimates of $25.65 million. During the same quarter last year, the business posted $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 Announces Dividend

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

Analysts Set New Price Targets

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

Hedge Funds Weigh In On TriplePoint Venture Growth BDC

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

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.