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

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) was the recipient of a significant decrease in short interest during 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 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 Trading Up 0.7 %

NYSE:TPVG traded up $0.05 during trading hours on Wednesday, reaching $7.62. The company had a trading volume of 163,883 shares, compared to its average volume of 285,819. The firm has a market cap of $305.17 million, a price-to-earnings ratio of 36.29 and a beta of 1.88. The firm’s 50 day moving average price is $7.74 and its 200-day moving average price is $7.58. TriplePoint Venture Growth BDC has a 52 week low of $6.44 and a 52 week high of $11.58.

TriplePoint Venture Growth BDC (NYSE:TPVG) last issued its quarterly earnings data 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 in the previous year, the company posted $0.54 earnings per share. On average, analysts forecast that TriplePoint Venture Growth BDC will post 1.4 earnings per share for the current fiscal year.

TriplePoint Venture Growth BDC Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, December 13th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 15.75%. The ex-dividend date of this dividend was Friday, December 13th. TriplePoint Venture Growth BDC’s dividend payout ratio (DPR) is presently 571.43%.

Analyst Ratings Changes

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

Institutional Trading of TriplePoint Venture Growth BDC

Large investors have recently added to or reduced their stakes in the business. Millennium Management LLC boosted its stake in shares of TriplePoint Venture Growth BDC by 169.5% during the 2nd quarter. Millennium Management LLC now owns 432,206 shares of the investment management company’s stock worth $3,471,000 after acquiring an additional 271,824 shares during the last quarter. Marshall Wace LLP purchased a new position in TriplePoint Venture Growth BDC during the second quarter valued at $1,486,000. International Assets Investment Management LLC lifted its position in TriplePoint Venture Growth BDC by 435.6% during the third quarter. International Assets Investment Management LLC now owns 107,630 shares of the investment management company’s stock valued at $760,000 after purchasing an additional 87,535 shares in the last quarter. Jane Street Group LLC grew its holdings in 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 purchasing an additional 92,072 shares during the period. Finally, Townsquare Capital LLC increased its position in TriplePoint Venture Growth BDC by 12.3% in the third quarter. Townsquare Capital LLC now owns 75,845 shares of the investment management company’s stock worth $535,000 after buying an additional 8,311 shares in the last quarter. 12.77% of the stock is currently owned by institutional investors.

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.