Trinity Capital (NASDAQ:TRIN) Reaches New 1-Year High – Here’s What Happened

Trinity Capital Inc. (NASDAQ:TRIN) hit a new 52-week high on Monday . The company traded as high as $17.61 and last traded at $17.6410, with a volume of 570345 shares traded. The stock had previously closed at $17.04.

Analyst Ratings Changes

TRIN has been the subject of several research analyst reports. Wall Street Zen upgraded Trinity Capital from a “sell” rating to a “hold” rating in a report on Sunday, March 29th. Wells Fargo & Company increased their price objective 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, Keefe, Bruyette & Woods boosted their target price on shares of Trinity Capital from $15.00 to $16.00 and gave the company a “market perform” rating in a research note on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.64.

Trinity Capital Trading Up 4.0%

The firm has a market cap of $1.59 billion, a PE ratio of 9.37 and a beta of 0.62. The business’s 50-day simple moving average is $16.71 and its 200 day simple moving average is $15.83.

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

Trinity Capital Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, September 30th. Investors of record on Thursday, September 10th will be issued a dividend of $0.17 per share. The ex-dividend date of this dividend is Thursday, September 10th. This represents a c) annualized dividend and a yield of 11.5%. Trinity Capital’s payout ratio is currently 107.94%.

Institutional Trading of Trinity Capital

Several large investors have recently bought and sold shares of TRIN. Prevail Innovative Wealth Advisors LLC acquired a new stake in Trinity Capital in the 3rd quarter valued at about $1,959,000. Sound Income Strategies LLC increased its holdings in Trinity Capital by 58,959.2% during the 4th quarter. Sound Income Strategies LLC now owns 944,948 shares of the company’s stock valued at $15,318,000 after acquiring an additional 943,348 shares in the last quarter. UBS Group AG raised its position in Trinity Capital by 28.8% during the fourth quarter. UBS Group AG now owns 1,038,928 shares of the company’s stock worth $15,220,000 after acquiring an additional 232,031 shares during the last quarter. Van ECK Associates Corp raised its position in Trinity Capital by 14.9% during the third quarter. Van ECK Associates Corp now owns 1,746,217 shares of the company’s stock worth $27,032,000 after acquiring an additional 225,814 shares during the last quarter. Finally, Closed End Fund Advisors Inc. purchased a new stake in shares of Trinity Capital in the fourth quarter valued at about $5,493,000. Institutional investors and hedge funds 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.