TriplePoint Venture Growth BDC Corp. (NYSE: TPVG – Get a rating) recorded a sharp increase in short-term interest during the month of February. As of February 15, there was short interest totaling 452,600 shares, an increase of 66.0% from the total of 272,600 shares as of January 31. Based on an average daily volume of 155,700 shares, the short interest ratio is currently 2.9 days.
Several research firms have recently commented on TPVG. Zacks Investment Research raised shares of TriplePoint Venture Growth BDC from a “sell” rating to a “hold” rating in a report released on Tuesday, November 9. JMP Securities raised its target price on shares of TriplePoint Venture Growth BDC from $16.50 to $19.00 and gave the company a “market outperforming” rating in a Friday, Nov. 5 report. Ultimately, StockNews.com In a report on Thursday, shares of TriplePoint Venture Growth BDC were downgraded from a “hold” rating to a “buy” rating. Three investment analysts gave the stock a hold rating and three gave the company a buy rating. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $17.25.
TPVG traded down $0.11 during Friday’s trading, hitting $17.11. 128,342 shares of shares traded in hands, compared to its average volume of 158,543. The company has a market capitalization of $530.14 million, a P/E ratio of 7.80, a price/growth ratio of earnings of 2.70 and a beta of 1.78. The company has a 50-day moving average of $16.94 and a 200-day moving average of $16.85. TriplePoint Venture Growth BDC has a 12-month low of $13.74 and a 12-month high of $19.25.
TriplePoint Venture Growth BDC (NYSE: TPVG – Get a rating) last announced its quarterly results on Wednesday, March 2. The investment management firm reported earnings per share of $0.42 for the quarter, beating Thomson Reuters consensus estimate of $0.34 by $0.08. TriplePoint Venture Growth BDC earned a net margin of 79.42% and a return on equity of 9.79%. In the same quarter a year earlier, the company posted earnings per share of $0.39. As a group, equity research analysts expect TriplePoint Venture Growth BDC to post EPS of 1.26 for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 31. Shareholders of record on Tuesday, March 15 will receive a dividend of $0.36. The ex-dividend date is Monday, March 14. This represents an annualized dividend of $1.44 and a dividend yield of 8.42%. TriplePoint Venture Growth BDC’s dividend payout ratio is 66.06%.
Several large investors have recently bought and sold shares of TPVG. BlackRock Inc. increased its position in shares of TriplePoint Venture Growth BDC by 10.7% in Q2. BlackRock Inc. now owns 185,325 shares of the investment management company worth $2,815,000 after purchasing an additional 17,988 shares during the period. LPL Financial LLC increased its position in shares of TriplePoint Venture Growth BDC by 7.5% in Q2. LPL Financial LLC now owns 38,596 shares of the investment management company worth $586,000 after purchasing an additional 2,693 shares during the period. Morgan Stanley increased its position in shares of TriplePoint Venture Growth BDC by 2.0% in the second quarter. Morgan Stanley now owns 202,319 shares of the investment management company worth $3,074,000 after buying 3,983 additional shares during the period. Royal Bank of Canada raised its position in shares of TriplePoint Venture Growth BDC by 3.7% in the second quarter. Royal Bank of Canada now owns 21,528 shares of the investment management company worth $327,000 after purchasing an additional 766 shares during the period. Finally, First Trust Advisors LP purchased a new stake in shares of TriplePoint Venture Growth BDC in Q2 for a value of approximately $1,291,000. 24.53% of the shares are held by hedge funds and other institutional investors.
About TriplePoint Venture Growth BDC (Get a rating)
TriplePoint Venture Growth BDC Corp. (the “Company”) is a closed, non-diversified, externally managed 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 venture capital growth stage business segment of its sponsor, TriplePoint Capital LLC (“TriplePoint Capital”).
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