Trinity Capital (NASDAQ:TRIN) Reaches New 12-Month High – Here’s What Happened

Shares of Trinity Capital Inc. (NASDAQ:TRIN) hit a new 52-week high during trading on Monday . The company traded as high as $18.27 and last traded at $18.2440, with a volume of 772036 shares trading hands. The stock had previously closed at $18.05.

Wall Street Analyst Weigh In

Several research analysts recently commented on TRIN shares. Wells Fargo & Company raised their price objective on shares of Trinity Capital from $13.50 to $15.00 and gave the stock an “underweight” rating in a report on Thursday, May 7th. Keefe, Bruyette & Woods boosted their target price on shares of Trinity Capital from $16.00 to $16.50 and gave the company a “market perform” rating in a report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $16.67.

Trinity Capital Stock Performance

The firm has a market cap of $1.73 billion, a P/E ratio of 9.64 and a beta of 0.61. The firm has a 50 day simple moving average of $17.41 and a 200 day simple moving average of $16.34.

Trinity Capital Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Thursday, September 10th will be given a $0.17 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 11.2%. The ex-dividend date is Thursday, September 10th. Trinity Capital’s dividend payout ratio (DPR) is 116.57%.

Insider Buying and Selling

In other news, CEO Kyle Steven Brown bought 2,296 shares of the firm’s stock in a transaction that occurred on Friday, August 7th. The shares were acquired at an average price of $18.04 per share, with a total value of $41,419.84. Following the acquisition, the chief executive officer owned 612,262 shares of the company’s stock, valued at approximately $11,045,206.48. The trade was a 0.38% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 4.25% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Trust Co. of Vermont purchased a new stake in shares of Trinity Capital in the second quarter worth $25,000. Nomura Asset Management Co. Ltd. purchased a new position in Trinity Capital during the fourth quarter worth about $25,000. Flagship Harbor Advisors LLC purchased a new position in Trinity Capital during the fourth quarter worth about $27,000. Sunbelt Securities Inc. bought a new position in Trinity Capital in the 1st quarter worth about $37,000. Finally, Fifth Third Bancorp bought a new position in Trinity Capital in the 1st quarter worth about $37,000. 24.62% of the stock is currently owned by hedge funds and other institutional investors.

About Trinity Capital

Trinity Capital Corporation (NASDAQ: TRIN) is a publicly traded business development company that provides flexible financing solutions to venture-backed and growth-stage companies. As a venture lender, Trinity Capital offers customized capital structures, including secured debt and equity co-investment, designed to support companies that have progressed beyond early-stage funding but still require non-dilutive growth capital.

The company focuses its investments on technology-driven sectors such as software, fintech, healthcare, life sciences and cleantech.