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.
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”).
Further reading: What is the cost of capital?
This instant news alert was powered by storytelling technology and financial data from MarketBeat to provide readers with the fastest, most accurate reports. This story was reviewed by the MarketBeat editorial team before publication. Please send any questions or comments about this story to [email protected]
Should you invest $ 1,000 in TriplePoint Venture Growth BDC now?
Before you consider TriplePoint Venture Growth BDC, you’ll want to hear this.
MarketBeat tracks Wall Street’s top-rated and top-performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat identified the five stocks that top analysts are quietly asking their clients to buy now before the wider market takes hold of … and TriplePoint Venture Growth BDC was not on the list.
Although TriplePoint Venture Growth BDC currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better bets.
See the 5 actions here