Trinity Capital (NASDAQ:TRIN) Hits New 52-Week High – Here’s Why

Trinity Capital Inc. (NASDAQ:TRIN) shares hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $16.15 and last traded at $16.12, with a volume of 266886 shares. The stock had previously closed at $16.00.

Analyst Ratings Changes

Separately, Wells Fargo & Company restated an “underweight” rating and set a $13.00 target price on shares of Trinity Capital in a research report on Monday, December 2nd.

Trinity Capital Trading Down 1.2 %

The business’s 50-day moving average price is $15.01 and its 200-day moving average price is $14.37. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.05 and a quick ratio of 0.05. The firm has a market capitalization of $932.55 million, a PE ratio of 9.26 and a beta of 0.56.

Trinity Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a $0.51 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $2.04 annualized dividend and a yield of 12.89%. Trinity Capital’s dividend payout ratio is currently 119.30%.

Hedge Funds Weigh In On Trinity Capital

Several institutional investors have recently bought and sold shares of the company. Kennedy Capital Management LLC increased its stake in Trinity Capital by 0.3% in the 4th quarter. Kennedy Capital Management LLC now owns 220,336 shares of the company’s stock valued at $3,188,000 after buying an additional 676 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in Trinity Capital by 9.0% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 11,173 shares of the company’s stock valued at $152,000 after buying an additional 918 shares during the period. Cornerstone Wealth Management LLC increased its stake in Trinity Capital by 5.7% in the 4th quarter. Cornerstone Wealth Management LLC now owns 24,100 shares of the company’s stock valued at $349,000 after buying an additional 1,302 shares during the period. PFG Investments LLC increased its stake in Trinity Capital by 12.9% in the 3rd quarter. PFG Investments LLC now owns 12,326 shares of the company’s stock valued at $167,000 after buying an additional 1,411 shares during the period. Finally, Oppenheimer & Co. Inc. increased its stake in Trinity Capital by 11.4% in the 4th quarter. Oppenheimer & Co. Inc. now owns 13,852 shares of the company’s stock valued at $200,000 after buying an additional 1,423 shares during the period. 24.62% of the stock is owned by institutional investors and hedge funds.

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.