Trinity Capital (NASDAQ:TRIN) Sets New 52-Week High – Here’s What Happened

Trinity Capital Inc. (NASDAQ:TRIN)’s stock price reached a new 52-week high on Wednesday . The company traded as high as $17.23 and last traded at $17.1850, with a volume of 1053617 shares changing hands. The stock had previously closed at $16.97.

Analysts Set New Price Targets

TRIN has been the subject of a number of analyst reports. Clear Str raised shares of Trinity Capital to a “strong-buy” rating in a research report on Wednesday, February 4th. Citigroup restated an “outperform” rating on shares of Trinity Capital in a research note on Tuesday, January 27th. Finally, Wall Street Zen upgraded shares of Trinity Capital from a “sell” rating to a “hold” rating in a research note on Sunday, March 29th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $16.29.

Trinity Capital Stock Performance

The firm has a market cap of $1.54 billion, a price-to-earnings ratio of 8.82 and a beta of 0.63. The business’s 50 day moving average price is $15.15 and its 200-day moving average price is $15.26.

Trinity Capital (NASDAQ:TRIN) last issued its earnings results on Wednesday, May 6th. The company reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.16). The company had revenue of $51.37 million during the quarter, compared to analyst estimates of $85.87 million. Trinity Capital had a net margin of 46.18% and a return on equity of 14.97%. On average, analysts forecast that Trinity Capital Inc. will post 2.05 earnings per share for the current fiscal year.

Trinity Capital Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Thursday, June 11th will be paid a $0.17 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 11.8%. The ex-dividend date is Thursday, June 11th. Trinity Capital’s dividend payout ratio is 104.08%.

Insider Transactions at Trinity Capital

In other Trinity Capital news, CEO Kyle Steven Brown acquired 3,532 shares of the stock in a transaction that occurred on Monday, March 16th. The stock was acquired at an average price of $14.16 per share, with a total value of $50,013.12. Following the transaction, the chief executive officer directly owned 620,709 shares in the company, valued at approximately $8,789,239.44. This represents a 0.57% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Steve Louis Brown acquired 27,109 shares of the stock in a transaction that occurred on Thursday, March 12th. The shares were acquired at an average cost of $14.75 per share, with a total value of $399,857.75. Following the transaction, the chairman owned 940,745 shares in the company, valued at approximately $13,875,988.75. The trade was a 2.97% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last 90 days, insiders bought 37,682 shares of company stock worth $553,902. Company insiders own 6.38% of the company’s stock.

Institutional Investors Weigh In On Trinity Capital

A number of institutional investors have recently modified their holdings of TRIN. Marshall Wace LLP grew its position in shares of Trinity Capital by 4,587.0% during the 3rd quarter. Marshall Wace LLP now owns 1,151,272 shares of the company’s stock valued at $17,822,000 after buying an additional 1,126,709 shares during the last quarter. Sound Income Strategies LLC grew its position in shares of Trinity Capital by 58,959.3% during the 4th quarter. Sound Income Strategies LLC now owns 944,948 shares of the company’s stock valued at $15,318,000 after buying an additional 943,348 shares during the last quarter. Eagle Point Credit Management LLC bought a new stake in shares of Trinity Capital during the 4th quarter valued at about $10,657,000. Two Sigma Investments LP grew its position in shares of Trinity Capital by 83.5% during the 3rd quarter. Two Sigma Investments LP now owns 986,184 shares of the company’s stock valued at $15,266,000 after buying an additional 448,626 shares during the last quarter. Finally, Closed End Fund Advisors Inc. bought a new stake in shares of Trinity Capital during the 4th quarter valued at about $5,493,000. Institutional investors own 24.62% of the company’s stock.

Trinity Capital Company Profile

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.