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

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG - Get Free Report) 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 days-to-cover ratio is presently 3.7 days. Currently, 3.9% of the shares of the company are sold short.

Institutional Investors Weigh In On TriplePoint Venture Growth BDC

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

TriplePoint Venture Growth BDC Price Performance

TPVG stock traded up $0.04 during trading on Wednesday, reaching $7.61. 189,316 shares of the company were exchanged, compared to its average volume of 289,857. TriplePoint Venture Growth BDC has a twelve month low of $6.44 and a twelve month high of $11.58. The company has a market capitalization of $304.77 million, a price-to-earnings ratio of 36.24 and a beta of 1.88. The company has a 50-day moving average of $7.76 and a two-hundred day moving average of $7.58.

TriplePoint Venture Growth BDC (NYSE:TPVG - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The investment management company reported $0.35 earnings per share for the quarter, beating 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 for the quarter, compared to the consensus estimate of $25.65 million. During the same quarter last year, the business posted $0.54 EPS. On average, analysts forecast that TriplePoint Venture Growth BDC will post 1.4 EPS for the current year.

TriplePoint Venture Growth BDC Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were given a dividend of $0.30 per share. The ex-dividend date was Friday, December 13th. This represents a $1.20 annualized dividend and a yield of 15.77%. TriplePoint Venture Growth BDC's dividend payout ratio is presently 571.43%.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Piper Sandler dropped their price target on TriplePoint Venture Growth BDC from $8.00 to $7.50 and set a "neutral" rating for the company in a research note on Thursday, November 7th. Keefe, Bruyette & Woods upgraded shares of TriplePoint Venture Growth BDC from an "underperform" rating to a "market perform" rating and dropped their target price for the company from $8.00 to $7.50 in a research report on Thursday, November 7th. Wells Fargo & Company upped their price target 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. Compass Point lifted their price objective on shares of 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, StockNews.com upgraded TriplePoint Venture Growth BDC from a "sell" rating to a "hold" rating in a research note on Friday, November 15th. Seven analysts have rated the stock with a hold rating, According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $7.70.

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.