TriplePoint Venture Growth BDC Corp. (NYSE:TPVG – Get Rating) was the target of a significant growth in short interest during the month of June. As of June 15th, there was short interest totalling 1,350,000 shares, a growth of 26.2% from the May 31st total of 1,070,000 shares. Based on an average trading volume of 190,100 shares, the short-interest ratio is currently 7.1 days.
TriplePoint Venture Growth BDC stock traded up $0.32 during midday trading on Monday, reaching $13.06. The company had a trading volume of 2,957 shares, compared to its average volume of 177,961. TriplePoint Venture Growth BDC has a 12-month low of $11.86 and a 12-month high of $19.25. The company has a market capitalization of $405.34 million, a P/E ratio of 5.73 and a beta of 1.71. The firm’s fifty day simple moving average is $14.34 and its 200-day simple moving average is $16.09.
TriplePoint Venture Growth BDC (NYSE:TPVG – Get Rating) last released its earnings results on Wednesday, May 4th. The investment management company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.07. TriplePoint Venture Growth BDC had a return on equity of 10.77% and a net margin of 75.42%. The business had revenue of $25.93 million for the quarter, compared to the consensus estimate of $25.54 million. During the same quarter last year, the business posted $0.29 earnings per share. On average, research analysts forecast that TriplePoint Venture Growth BDC will post 1.59 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 30th. Investors of record on Thursday, June 16th were given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 11.03%. The ex-dividend date was Wednesday, June 15th. TriplePoint Venture Growth BDC’s payout ratio is 63.16%.
In related news, CFO Christopher M. Mathieu bought 10,000 shares of the stock in a transaction that occurred on Friday, June 17th. The stock was bought at an average cost of $12.16 per share, for a total transaction of $121,600.00. Following the purchase, the chief financial officer now directly owns 25,500 shares of the company’s stock, valued at $310,080. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.38% of the stock is currently owned by insiders.
Hedge funds have recently bought and sold shares of the stock. Van ECK Associates Corp boosted its holdings in shares of TriplePoint Venture Growth BDC by 52.7% in the 1st quarter. Van ECK Associates Corp now owns 722,692 shares of the investment management company’s stock valued at $12,618,000 after buying an additional 249,437 shares in the last quarter. Sound Income Strategies LLC boosted its stake in TriplePoint Venture Growth BDC by 5.9% in the first quarter. Sound Income Strategies LLC now owns 398,785 shares of the investment management company’s stock valued at $6,963,000 after acquiring an additional 22,268 shares in the last quarter. Advisors Asset Management Inc. grew its holdings in shares of TriplePoint Venture Growth BDC by 8.4% during the first quarter. Advisors Asset Management Inc. now owns 324,132 shares of the investment management company’s stock worth $5,659,000 after purchasing an additional 25,015 shares during the last quarter. Hennion & Walsh Asset Management Inc. grew its stake in TriplePoint Venture Growth BDC by 14.0% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 231,134 shares of the investment management company’s stock worth $4,036,000 after buying an additional 28,406 shares during the last quarter. Finally, Moors & Cabot Inc. purchased a new stake in TriplePoint Venture Growth BDC in the 3rd quarter valued at $153,000. Hedge funds and other institutional investors own 22.75% of the company’s stock.
A number of equities research analysts recently commented on TPVG shares. Piper Sandler dropped their target price on TriplePoint Venture Growth BDC from $19.00 to $16.00 and set an “overweight” rating on the stock in a research report on Tuesday, June 28th. StockNews.com initiated coverage on shares of TriplePoint Venture Growth BDC in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Finally, Wells Fargo & Company boosted their target price on shares of TriplePoint Venture Growth BDC from $17.50 to $18.00 and gave the company an “overweight” rating in a research report on Monday, April 25th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $17.19.
TriplePoint Venture Growth BDC Company Profile (Get Rating)
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.
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