TriplePoint Venture Growth BDC Corp. (NYSE: TPVG) sees sharp decline in short-term interest

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TriplePoint Venture Growth BDC Corp. (NYSE: TPVG) benefited from a sharp drop in short-term interest in December. As of December 15, there was short interest totaling 440,500 shares, a decrease of 29.4% from the total of 624,300 shares as of November 30. Based on an average daily volume of 171,500 shares, the day-to-coverage ratio is currently 2.6 days.

A number of analysts have recently published reports on the company. Zacks investment research upgraded TriplePoint Venture Growth BDC from a “sell” rating to a “keep” rating in a research report released on Tuesday, November 9. JMP Securities raised its target price on TriplePoint Venture Growth BDC from $ 16.50 to $ 19.00 and gave the company a “market outperformance” rating in a research report released on Friday, November 5. Finally, Compass Point downgraded TriplePoint Venture Growth BDC’s rating from a “buy” rating to a “neutral” rating and set a target price of $ 15.75 for the share. in a research report on Friday October 15. Three analysts rated the stock with a conservation rating and two gave the stock a buy rating. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $ 17.25.

A number of institutional investors have recently bought and sold shares. Sound Income Strategies LLC increased its holdings of shares of TriplePoint Venture Growth BDC by 0.9% during the third quarter. Sound Income Strategies LLC now owns 359,851 shares of the investment management company valued at $ 5,700,000 after acquiring an additional 3,367 shares during the period. BlackRock Inc. increased its holdings of shares of TriplePoint Venture Growth BDC by 22.1% during the third quarter. BlackRock Inc. now owns 226,209 shares of the investment management company valued at $ 3,583,000 after acquiring an additional 40,884 shares during the period. Baird Financial Group Inc. increased its holdings of shares of TriplePoint Venture Growth BDC by 0.9% during the second quarter. Baird Financial Group Inc. now owns 206,586 shares of the investment management company valued at $ 3,138,000 after acquiring an additional 1,897 shares during the period. Neuberger Berman Group LLC increased its holdings of shares of TriplePoint Venture Growth BDC by 23.3% in the third quarter. Neuberger Berman Group LLC now owns 203,869 shares of the investment management company valued at $ 3,229,000 after acquiring an additional 38,528 shares during the period. Finally, Morgan Stanley increased its holdings of shares of TriplePoint Venture Growth BDC by 2.0% during the second quarter. Morgan Stanley now owns 202,319 shares of the investment management company valued at $ 3,074,000 after acquiring an additional 3,983 shares during the period. Institutional investors and hedge funds hold 23.91% of the company’s shares.

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TriplePoint Venture Growth BDC stock opened at $ 17.28 on Friday. TriplePoint Venture Growth BDC has a 52 week low of $ 13.15 and a 52 week high of $ 19.25. The stock has a market cap of $ 535.40 million, a P / E ratio of 7.93, a PEG ratio of 3.56 and a beta of 1.78. The stock has a 50-day simple moving average of $ 17.84 and a 200-day simple moving average of $ 16.56.

TriplePoint Venture Growth BDC (NYSE: TPVG) last released its quarterly results on Tuesday, November 2. The investment management firm reported $ 0.32 of EPS for the quarter, missing analyst consensus estimates of $ 0.34 of ($ 0.02). TriplePoint Venture Growth BDC achieved a return on equity of 9.79% and a net margin of 79.42%. The company posted revenue of $ 21.23 million for the quarter, compared to a consensus estimate of $ 22.27 million. In the same quarter of the previous year, the company posted EPS of $ 0.40. On average, analysts on the short side predict that TriplePoint Venture Growth BDC will post earnings per share of 1.26 for the current year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 15. Investors of record on Tuesday, November 30, received a dividend of $ 0.36 per share. This represents a dividend of $ 1.44 on an annualized basis and a yield of 8.33%. The ex-dividend date was Monday, November 29. TriplePoint Venture Growth BDC’s payout ratio is currently 66.06%.

About TriplePoint Venture Growth BDC

TriplePoint Venture Growth BDC Corp. (the “Company”) is an externally managed, non-diversified, closed-end management investment company which has elected to be regulated as a business development company under the Investment Companies Act 1940 , as amended. It was formed to expand the growth stage venture capital business segment of its sponsor, TriplePoint Capital LLC (“TriplePoint Capital”).

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