TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) Short Interest Down 21.6% in December

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) was the target of a significant 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. Currently, 3.9% of the shares of the stock are short sold. Based on an average daily volume of 406,100 shares, the days-to-cover ratio is currently 3.7 days.

Institutional Trading of TriplePoint Venture Growth BDC

A number of institutional investors have recently bought and sold shares of TPVG. McIlrath & Eck LLC bought a new stake in shares of TriplePoint Venture Growth BDC in the 3rd quarter worth about $51,000. Y Intercept Hong Kong Ltd purchased a new stake in TriplePoint Venture Growth BDC in the 3rd quarter worth about $307,000. XTX Topco Ltd bought a new stake in TriplePoint Venture Growth BDC in the third quarter worth about $118,000. Jane Street Group LLC boosted its position in shares of TriplePoint Venture Growth BDC by 712.4% during the third quarter. Jane Street Group LLC now owns 104,997 shares of the investment management company’s stock valued at $741,000 after buying an additional 92,072 shares during the period. Finally, Quadrature Capital Ltd bought a new position in shares of TriplePoint Venture Growth BDC during the third quarter valued at approximately $99,000. 12.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

TriplePoint Venture Growth BDC Stock Up 0.7 %

TriplePoint Venture Growth BDC stock traded up $0.05 during midday trading on Wednesday, reaching $7.62. 163,883 shares of the stock traded hands, compared to its average volume of 285,819. The stock has a market cap of $305.17 million, a P/E ratio of 36.29 and a beta of 1.88. The stock’s fifty day moving average is $7.74 and its 200-day moving average is $7.58. TriplePoint Venture Growth BDC has a 12 month low of $6.44 and a 12 month high of $11.58.

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, equities analysts predict that TriplePoint Venture Growth BDC will post 1.4 EPS for the current fiscal year.

TriplePoint Venture Growth BDC Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $1.20 annualized dividend and a yield of 15.75%. TriplePoint Venture Growth BDC’s payout ratio is presently 571.43%.

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.