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

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) was the target of a significant drop in short interest during 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 daily volume of 406,100 shares, the days-to-cover ratio is presently 3.7 days. Approximately 3.9% of the company’s shares are short sold.

Institutional Inflows and Outflows

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

TriplePoint Venture Growth BDC Price Performance

TriplePoint Venture Growth BDC stock traded down $0.13 during mid-day trading on Friday, reaching $7.61. 392,714 shares of the company traded hands, compared to its average volume of 285,301. The company has a market capitalization of $304.58 million, a price-to-earnings ratio of 36.22 and a beta of 1.88. TriplePoint Venture Growth BDC has a fifty-two week low of $6.44 and a fifty-two week high of $11.58. The firm’s fifty day moving average is $7.76 and its two-hundred day moving average is $7.58.

TriplePoint Venture Growth BDC (NYSE:TPVG) last posted its quarterly earnings results 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 business had revenue of $26.52 million for the quarter, compared to the consensus estimate of $25.65 million. During the same quarter in the previous year, the business earned $0.54 EPS. As a group, equities research analysts predict that TriplePoint Venture Growth BDC will post 1.4 earnings per share 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 issued a dividend of $0.30 per share. The ex-dividend date 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 (DPR) is presently 571.46%.

Analyst Upgrades and Downgrades

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