Trinity Capital Inc. (NASDAQ:TRIN) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Trinity Capital Inc. (NASDAQ:TRIN) have earned an average recommendation of “Moderate Buy” from the eight brokerages that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, five have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $16.6429.

A number of equities analysts recently commented on TRIN shares. Wall Street Zen upgraded Trinity Capital from a “sell” rating to a “hold” rating in a report on Sunday, March 29th. Keefe, Bruyette & Woods raised their price target on shares of Trinity Capital from $15.00 to $16.00 and gave the company a “market perform” rating in a research report on Thursday, May 7th. Wells Fargo & Company raised their price target on shares of Trinity Capital from $13.50 to $15.00 and gave the company an “underweight” rating in a research report on Thursday, May 7th. Finally, Clear Str raised shares of Trinity Capital to a “strong-buy” rating in a research report on Wednesday, February 4th.

Trinity Capital Price Performance

Shares of Trinity Capital stock opened at $16.86 on Monday. The business has a 50-day moving average of $15.88 and a 200 day moving average of $15.51. Trinity Capital has a 12 month low of $13.76 and a 12 month high of $17.38. The stock has a market capitalization of $1.52 billion, a price-to-earnings ratio of 8.92 and a beta of 0.62.

Trinity Capital (NASDAQ:TRIN) last announced its earnings results on Wednesday, May 6th. The company reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.01. Trinity Capital had a return on equity of 14.94% and a net margin of 43.45%.The company had revenue of $51.37 million during the quarter, compared to analysts’ expectations of $85.87 million. Equities research analysts anticipate that Trinity Capital will post 2.1 earnings per share for the current year.

Trinity Capital Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Thursday, June 11th will be given a $0.17 dividend. This represents a c) annualized dividend and a yield of 12.1%. The ex-dividend date of this dividend is Thursday, June 11th. Trinity Capital’s dividend payout ratio (DPR) is currently 107.94%.

Insider Activity

In related news, CEO Kyle Steven Brown acquired 3,532 shares of the firm’s stock in a transaction dated Monday, March 16th. The stock was acquired at an average price of $14.16 per share, for a total transaction of $50,013.12. Following the purchase, the chief executive officer owned 620,709 shares of the company’s stock, valued at $8,789,239.44. This represents a 0.57% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Steve Louis Brown acquired 27,109 shares of the firm’s stock in a transaction dated Thursday, March 12th. The stock was bought at an average price of $14.75 per share, with a total value of $399,857.75. Following the purchase, the chairman directly owned 940,745 shares in the company, valued at approximately $13,875,988.75. This trade represents a 2.97% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders bought a total of 34,349 shares of company stock valued at $504,240 in the last quarter. Company insiders own 6.38% of the company’s stock.

Hedge Funds Weigh In On Trinity Capital

Several hedge funds and other institutional investors have recently made changes to their positions in TRIN. Marshall Wace LLP boosted its stake in shares of Trinity Capital by 4,587.0% in 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 period. Sound Income Strategies LLC lifted 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 worth $15,318,000 after purchasing an additional 943,348 shares during the last quarter. Eagle Point Credit Management LLC purchased a new stake in shares of Trinity Capital during the 4th quarter worth $10,657,000. Two Sigma Investments LP lifted 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 worth $15,266,000 after purchasing an additional 448,626 shares during the last quarter. Finally, Closed End Fund Advisors Inc. purchased a new stake in shares of Trinity Capital during the 4th quarter worth $5,493,000. Hedge funds and other institutional investors own 24.62% of the company’s stock.

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.