Trinity Capital Inc. (NASDAQ:TRIN) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Trinity Capital Inc. (NASDAQ:TRIN) have been given a consensus rating of “Moderate Buy” by the seven brokerages that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, one has given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $16.6667.

TRIN has been the topic of several recent research reports. Wells Fargo & Company lifted their price objective on shares of Trinity Capital from $13.50 to $15.00 and gave the stock an “underweight” rating in a research note on Thursday, May 7th. Keefe, Bruyette & Woods increased their target price on shares of Trinity Capital from $16.00 to $16.50 and gave the company a “market perform” rating in a research note on Thursday, August 6th.

Trinity Capital Trading Down 1.6%

Shares of Trinity Capital stock opened at $18.14 on Friday. Trinity Capital has a 52 week low of $14.13 and a 52 week high of $18.57. The stock has a market cap of $1.72 billion, a PE ratio of 9.60 and a beta of 0.61. The company’s 50-day moving average price is $17.49 and its two-hundred day moving average price is $16.37.

Trinity Capital Announces Dividend

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

Insider Activity

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

Hedge Funds Weigh In On Trinity Capital

A number of hedge funds have recently modified their holdings of the stock. Goldman Sachs Group Inc. raised its position in shares of Trinity Capital by 609.9% during the first quarter. Goldman Sachs Group Inc. now owns 136,672 shares of the company’s stock worth $2,072,000 after purchasing an additional 117,420 shares during the period. Empowered Funds LLC purchased a new stake in shares of Trinity Capital during the first quarter valued at $234,000. JPMorgan Chase & Co. acquired a new position in shares of Trinity Capital in the 2nd quarter valued at $54,000. Invesco Ltd. boosted its position in shares of Trinity Capital by 2.7% in the 2nd quarter. Invesco Ltd. now owns 838,194 shares of the company’s stock valued at $11,793,000 after purchasing an additional 21,729 shares during the period. Finally, Marshall Wace LLP purchased a new position in Trinity Capital in the 2nd quarter worth about $346,000. 24.62% of the stock is currently owned by institutional investors and hedge funds.

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.