Trinity Capital (NASDAQ:TRIN) Hits New 12-Month High – What’s Next?

Trinity Capital Inc. (NASDAQ:TRIN)’s stock price reached a new 52-week high during trading on Friday . The company traded as high as $15.31 and last traded at $15.34, with a volume of 294931 shares. The stock had previously closed at $15.06.

Analysts Set New Price Targets

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

Trinity Capital Stock Up 1.6 %

The firm has a market cap of $901.32 million, a price-to-earnings ratio of 8.95 and a beta of 0.55. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.07. The stock has a 50-day moving average of $14.58 and a 200-day moving average of $14.21.

Trinity Capital (NASDAQ:TRIN) last announced its earnings results on Wednesday, October 30th. The company reported $0.52 earnings per share for the quarter, meeting the consensus estimate of $0.52. The firm had revenue of $61.77 million for the quarter, compared to the consensus estimate of $55.82 million. Trinity Capital had a return on equity of 15.90% and a net margin of 40.73%. During the same quarter in the previous year, the business earned $0.55 EPS. As a group, sell-side analysts forecast that Trinity Capital Inc. will post 2.06 EPS for the current fiscal year.

Trinity Capital Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 13.33%. The ex-dividend date of this dividend was Tuesday, December 31st. Trinity Capital’s payout ratio is currently 119.30%.

Insider Buying and Selling at Trinity Capital

In other news, Chairman Steve Louis Brown acquired 19,350 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were bought at an average price of $13.12 per share, with a total value of $253,872.00. Following the purchase, the chairman now owns 722,182 shares of the company’s stock, valued at approximately $9,475,027.84. This represents a 2.75 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 6.38% of the stock is owned by company insiders.

Institutional Trading of Trinity Capital

A number of hedge funds and other institutional investors have recently modified their holdings of TRIN. Cubist Systematic Strategies LLC bought a new stake in shares of Trinity Capital in the 2nd quarter worth $386,000. Millennium Management LLC raised its stake in shares of Trinity Capital by 527.8% in the 2nd quarter. Millennium Management LLC now owns 252,587 shares of the company’s stock worth $3,572,000 after buying an additional 212,353 shares in the last quarter. Cornerstone Wealth Management LLC raised its stake in shares of Trinity Capital by 9.5% in the 3rd quarter. Cornerstone Wealth Management LLC now owns 22,798 shares of the company’s stock worth $309,000 after buying an additional 1,983 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of Trinity Capital by 522.1% in the 3rd quarter. Blue Trust Inc. now owns 7,714 shares of the company’s stock worth $109,000 after acquiring an additional 6,474 shares during the last quarter. Finally, Private Advisor Group LLC grew its holdings in shares of Trinity Capital by 26.2% in the 3rd quarter. Private Advisor Group LLC now owns 18,409 shares of the company’s stock worth $250,000 after acquiring an additional 3,819 shares during the last quarter. Institutional investors own 24.62% of the company’s stock.

About Trinity Capital

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.