TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) Short Interest Down 19.6% in August

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) was the recipient of a large decrease in short interest during the month of August. As of August 15th, there was short interest totalling 2,880,000 shares, a decrease of 19.6% from the July 31st total of 3,580,000 shares. Approximately 7.3% of the shares of the stock are short sold. Based on an average daily volume of 465,800 shares, the days-to-cover ratio is presently 6.2 days.

TriplePoint Venture Growth BDC Price Performance

Shares of TriplePoint Venture Growth BDC stock opened at $7.43 on Thursday. The business has a 50-day moving average of $8.09 and a 200 day moving average of $9.07. TriplePoint Venture Growth BDC has a 12 month low of $6.89 and a 12 month high of $11.58. The stock has a market capitalization of $281.20 million, a price-to-earnings ratio of -6.69 and a beta of 1.78.

TriplePoint Venture Growth BDC (NYSE:TPVG) last announced its quarterly earnings data on Wednesday, August 7th. The investment management company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.10). The company had revenue of $27.11 million during the quarter, compared to analysts’ expectations of $28.77 million. TriplePoint Venture Growth BDC had a negative net margin of 8.03% and a positive return on equity of 18.24%. During the same quarter in the previous year, the business posted $0.53 EPS. Equities research analysts anticipate that TriplePoint Venture Growth BDC will post 1.4 earnings per share for the current year.

TriplePoint Venture Growth BDC Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 16.15%. The ex-dividend date of this dividend is Monday, September 16th. TriplePoint Venture Growth BDC’s payout ratio is presently -108.11%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on TPVG. Wells Fargo & Company reissued an “underweight” rating and set a $8.50 price objective (down from $9.50) on shares of TriplePoint Venture Growth BDC in a research report on Wednesday, May 29th. LADENBURG THALM/SH SH downgraded TriplePoint Venture Growth BDC from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $8.50 to $8.00 in a research report on Friday, August 9th. Keefe, Bruyette & Woods cut their price objective on TriplePoint Venture Growth BDC from $9.00 to $8.00 and set an “underperform” rating for the company in a research report on Friday, August 9th. Finally, Piper Sandler cut their price objective on TriplePoint Venture Growth BDC from $9.50 to $8.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Three research analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. According to MarketBeat, TriplePoint Venture Growth BDC has an average rating of “Hold” and an average price target of $8.25.

Insider Activity at TriplePoint Venture Growth BDC

In related news, President Sajal Srivastava bought 11,298 shares of the business’s stock in a transaction on Monday, August 12th. The stock was acquired at an average cost of $7.02 per share, with a total value of $79,311.96. Following the purchase, the president now directly owns 250,858 shares of the company’s stock, valued at $1,761,023.16. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.01% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On TriplePoint Venture Growth BDC

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. CWM LLC lifted its stake in TriplePoint Venture Growth BDC by 127.5% during the fourth quarter. CWM LLC now owns 2,275 shares of the investment management company’s stock worth $25,000 after purchasing an additional 1,275 shares during the last quarter. Quarry LP lifted its stake in TriplePoint Venture Growth BDC by 43.7% during the fourth quarter. Quarry LP now owns 3,143 shares of the investment management company’s stock worth $34,000 after purchasing an additional 956 shares during the last quarter. EverSource Wealth Advisors LLC purchased a new stake in TriplePoint Venture Growth BDC in the second quarter valued at approximately $62,000. Cape Investment Advisory Inc. acquired a new stake in shares of TriplePoint Venture Growth BDC in the fourth quarter valued at approximately $79,000. Finally, Farmers & Merchants Investments Inc. boosted its holdings in shares of TriplePoint Venture Growth BDC by 116.9% in the first quarter. Farmers & Merchants Investments Inc. now owns 9,833 shares of the investment management company’s stock valued at $93,000 after acquiring an additional 5,300 shares during the period. Hedge funds and other institutional investors own 12.77% of the company’s stock.

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.