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 during mid-day trading on Monday . The company traded as high as $18.59 and last traded at $18.5360, with a volume of 258575 shares traded. The stock had previously closed at $18.35.

Analyst Ratings Changes

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

Trinity Capital Stock Performance

The company has a market capitalization of $1.76 billion, a PE ratio of 9.84 and a beta of 0.61. The company’s 50-day simple moving average is $17.61 and its 200-day simple moving average is $16.42.

Trinity Capital (NASDAQ:TRIN) last announced its earnings results on Wednesday, August 5th. The company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). Trinity Capital had a net margin of 43.45% and a return on equity of 14.94%. The business had revenue of $87.17 million during the quarter, compared to analysts’ expectations of $91.44 million. Analysts expect that Trinity Capital Inc. will post 2.1 EPS for the current year.

Trinity Capital Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Investors of record on Thursday, September 10th will be given a $0.17 dividend. This represents a c) annualized dividend and a yield of 11.0%. The ex-dividend date is Thursday, September 10th. Trinity Capital’s payout ratio is 116.57%.

Insider Buying and Selling

In related news, CEO Kyle Steven Brown acquired 2,296 shares of Trinity Capital stock in a transaction on Friday, August 7th. The stock was purchased at an average cost of $18.04 per share, with a total value of $41,419.84. Following the purchase, the chief executive officer directly owned 612,262 shares in the company, valued at approximately $11,045,206.48. The trade was a 0.38% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 4.25% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. UBS Group AG grew its position in Trinity Capital by 28.8% during the fourth quarter. UBS Group AG now owns 1,038,928 shares of the company’s stock worth $15,220,000 after buying an additional 232,031 shares during the period. Closed End Fund Advisors Inc. purchased a new position in Trinity Capital in the fourth quarter valued at about $5,493,000. Sound Income Strategies LLC lifted its position in shares of Trinity Capital by 9.4% during the 2nd quarter. Sound Income Strategies LLC now owns 1,269,744 shares of the company’s stock valued at $22,716,000 after acquiring an additional 109,291 shares during the period. Independent Financial Group LLC acquired a new stake in shares of Trinity Capital during the 1st quarter valued at approximately $933,000. Finally, GSA Capital Partners LLP purchased a new stake in shares of Trinity Capital during the 2nd quarter worth approximately $1,121,000. Institutional investors and hedge funds 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.