Trinity Capital (NASDAQ:TRIN) Shares Gap Down – Should You Sell?

Trinity Capital Inc. (NASDAQ:TRIN) gapped down prior to trading on Wednesday . The stock had previously closed at $15.03, but opened at $14.52. Trinity Capital shares last traded at $14.6690, with a volume of 385,066 shares trading hands.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. UBS Group cut their price target on Trinity Capital from $18.00 to $17.00 and set a “buy” rating on the stock in a report on Tuesday, October 14th. JMP Securities set a $17.50 target price on shares of Trinity Capital in a research note on Monday, December 8th. Noble Financial assumed coverage on shares of Trinity Capital in a report on Thursday, December 11th. They issued a “buy” rating on the stock. Capital One Financial set a $17.00 price target on shares of Trinity Capital in a research note on Thursday, December 11th. Finally, Loop Capital set a $17.00 price objective on shares of Trinity Capital in a research report on Thursday, December 11th. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $16.44.

Trinity Capital Price Performance

The company’s 50 day simple moving average is $14.90 and its 200 day simple moving average is $15.12. The company has a market capitalization of $1.11 billion, a PE ratio of 6.71 and a beta of 0.53.

Trinity Capital (NASDAQ:TRIN) last issued its earnings results on Wednesday, November 5th. The company reported $0.52 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.52. Trinity Capital had a net margin of 50.49% and a return on equity of 15.51%. The business had revenue of $75.55 million during the quarter, compared to analysts’ expectations of $74.31 million. On average, equities analysts forecast that Trinity Capital Inc. will post 2.06 EPS for the current year.

Trinity Capital Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th will be issued a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, March 13th. This represents a c) annualized dividend and a dividend yield of 13.9%. Trinity Capital’s dividend payout ratio (DPR) is presently 93.15%.

Insider Transactions at Trinity Capital

In other news, CEO Kyle Steven Brown purchased 6,920 shares of the business’s stock in a transaction on Friday, November 7th. The shares were bought at an average price of $14.44 per share, with a total value of $99,924.80. Following the completion of the transaction, the chief executive officer directly owned 997,033 shares in the company, valued at approximately $14,397,156.52. This represents a 0.70% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ronald E. Estes acquired 2,000 shares of Trinity Capital stock in a transaction on Friday, November 7th. The stock was purchased at an average price of $14.44 per share, with a total value of $28,880.00. Following the purchase, the director owned 38,779 shares of the company’s stock, valued at $559,968.76. The trade was a 5.44% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders have bought 20,157 shares of company stock worth $292,074. Corporate insiders own 6.38% of the company’s stock.

Hedge Funds Weigh In On Trinity Capital

Hedge funds have recently modified their holdings of the business. Y Intercept Hong Kong Ltd acquired a new position in Trinity Capital in the 2nd quarter valued at $2,136,000. Beacon Pointe Advisors LLC purchased a new stake in shares of Trinity Capital in the second quarter valued at about $737,000. Trexquant Investment LP increased its stake in shares of Trinity Capital by 10.7% during the first quarter. Trexquant Investment LP now owns 249,751 shares of the company’s stock worth $3,786,000 after acquiring an additional 24,041 shares during the period. Cubist Systematic Strategies LLC purchased a new position in Trinity Capital during the first quarter worth about $1,777,000. Finally, D.A. Davidson & CO. raised its holdings in Trinity Capital by 95.4% during the second quarter. D.A. Davidson & CO. now owns 20,590 shares of the company’s stock worth $290,000 after purchasing an additional 10,052 shares in the last quarter. 24.62% of the stock is currently owned by hedge funds and other institutional investors.

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.