Trinity Capital (NASDAQ:TRIN) Now Covered by B. Riley

B. Riley initiated coverage on shares of Trinity Capital (NASDAQ:TRIN) in a research note released on Tuesday. The brokerage issued a buy rating and a $16.00 price target on the stock.

Several other research analysts also recently issued reports on the stock. UBS Group dropped their target price on shares of Trinity Capital from $18.00 to $16.50 and set a “buy” rating on the stock in a research note on Thursday, April 17th. Wells Fargo & Company dropped their target price on shares of Trinity Capital from $14.00 to $13.00 and set an “underweight” rating on the stock in a research note on Monday, April 28th. Finally, Keefe, Bruyette & Woods dropped their target price on shares of Trinity Capital from $16.00 to $15.00 and set a “market perform” rating on the stock in a research note on Thursday, May 8th.

Trinity Capital Trading Up 1.5%

Shares of NASDAQ TRIN opened at $14.81 on Tuesday. The firm’s 50 day moving average price is $14.88 and its 200-day moving average price is $14.82. The company has a market cap of $957.53 million, a PE ratio of 8.66 and a beta of 0.57. Trinity Capital has a 52-week low of $12.50 and a 52-week high of $16.82. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.05 and a current ratio of 0.05.

Trinity Capital (NASDAQ:TRIN) last issued its earnings results on Wednesday, May 7th. The company reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.01). The firm had revenue of $65.39 million during the quarter, compared to the consensus estimate of $67.67 million. Trinity Capital had a return on equity of 15.90% and a net margin of 40.73%. On average, equities research analysts expect that Trinity Capital will post 2.06 EPS for the current fiscal year.

Trinity Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were issued a dividend of $0.51 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $2.04 annualized dividend and a dividend yield of 13.77%. Trinity Capital’s payout ratio is 93.15%.

Insider Activity

In related news, CEO Kyle Steven Brown acquired 3,513 shares of the firm’s stock in a transaction dated Friday, May 9th. The stock was purchased at an average cost of $14.22 per share, with a total value of $49,954.86. Following the completion of the acquisition, the chief executive officer now directly owns 55,332 shares of the company’s stock, valued at approximately $786,821.04. This trade represents a 6.78% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 5.31% of the stock is owned by corporate insiders.

Institutional Trading of Trinity Capital

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Van ECK Associates Corp increased its holdings in Trinity Capital by 6.8% during the fourth quarter. Van ECK Associates Corp now owns 1,389,788 shares of the company’s stock valued at $20,110,000 after buying an additional 88,698 shares during the last quarter. Melia Wealth LLC increased its holdings in Trinity Capital by 0.6% during the first quarter. Melia Wealth LLC now owns 1,103,949 shares of the company’s stock valued at $16,736,000 after buying an additional 6,980 shares during the last quarter. Rockefeller Capital Management L.P. increased its holdings in Trinity Capital by 9.3% during the fourth quarter. Rockefeller Capital Management L.P. now owns 843,849 shares of the company’s stock valued at $12,211,000 after buying an additional 71,633 shares during the last quarter. Ares Management LLC increased its holdings in Trinity Capital by 25.0% during the fourth quarter. Ares Management LLC now owns 549,839 shares of the company’s stock valued at $7,956,000 after buying an additional 109,839 shares during the last quarter. Finally, Round Rock Advisors LLC increased its holdings in Trinity Capital by 178.2% during the first quarter. Round Rock Advisors LLC now owns 532,931 shares of the company’s stock valued at $8,079,000 after buying an additional 341,343 shares during the last quarter. 24.62% of the stock is owned by hedge funds and other institutional investors.

Trinity Capital Company Profile

Trinity Capital Inc is a business development company. It is a venture capital firm specializing in venture debt to growth stage companies looking for loans and/or equipment financing. Trinity Capital Inc was founded in 2019 is based in Phoenix, Arizona with additional offices in the United States.