Trinity Capital (NASDAQ:TRIN) Shares Cross Above Fifty Day Moving Average – Should You Sell?

Shares of Trinity Capital Inc. (NASDAQ:TRIN) passed above its 50-day moving average during trading on Wednesday. The stock has a 50-day moving average of $17.44 and traded as high as $18.04. Trinity Capital shares last traded at $17.9020, with a volume of 1,573,322 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods boosted their price objective on Trinity Capital from $16.00 to $16.50 and gave the stock a “market perform” rating in a research note on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $16.60.

Trinity Capital Price Performance

The business’s 50 day simple moving average is $17.44 and its 200 day simple moving average is $16.71. The company has a market capitalization of $1.70 billion, a PE ratio of 9.47 and a beta of 0.66.

Trinity Capital (NASDAQ:TRIN) last posted its earnings results on Wednesday, August 5th. The company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.01). Trinity Capital had a net margin of 43.45% and a return on equity of 14.94%. The firm had revenue of $87.17 million during the quarter, compared to analyst estimates of $91.44 million. As a group, analysts anticipate that Trinity Capital Inc. will post 2.10 EPS for the current year.

Trinity Capital Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Friday, December 11th will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, December 11th. This represents a $2.04 annualized dividend and a yield of 11.4%. Trinity Capital’s dividend payout ratio (DPR) is 116.57%.

Insider Transactions at Trinity Capital

In related news, CEO Kyle Brown bought 2,296 shares of the firm’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 transaction, the chief executive officer directly owned 612,262 shares of the company’s stock, valued at $11,045,206.48. This represents a 0.38% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 4.25% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in TRIN. Bank of America Corp DE boosted its holdings in Trinity Capital by 57.7% during the 1st quarter. Bank of America Corp DE now owns 190,166 shares of the company’s stock valued at $2,797,000 after acquiring an additional 69,586 shares during the period. BlackRock Inc. purchased a new stake in shares of Trinity Capital in the 2nd quarter valued at approximately $5,134,000. Van ECK Associates Corp increased its holdings in Trinity Capital by 39.3% in the second quarter. Van ECK Associates Corp now owns 2,153,437 shares of the company’s stock valued at $38,525,000 after buying an additional 607,988 shares during the last quarter. Melia Wealth LLC purchased a new position in shares of Trinity Capital in the 2nd quarter valued at about $24,221,000. Finally, Sound Income Strategies LLC raised its holdings in Trinity Capital by 9.4% during the second quarter. Sound Income Strategies LLC now owns 1,269,744 shares of the company’s stock worth $22,716,000 after purchasing an additional 109,291 shares in the last quarter. 24.62% of the stock is currently owned by institutional investors and hedge funds.

About Trinity Capital

Trinity Capital Inc (NASDAQ:TRIN) is a business development company that provides debt financing to venture capital- and private equity-backed companies. The company focuses primarily on growth-stage businesses that may require capital to support expansion, product development, acquisitions, working capital and other corporate needs.

Through its investment platform, Trinity Capital offers a range of financing solutions, including secured loans, equipment financing, growth capital and other customized debt structures.