Trinity Capital (NASDAQ:TRIN) Downgraded to “Sell” Rating by Wall Street Zen

Wall Street Zen downgraded shares of Trinity Capital (NASDAQ:TRIN) from a hold rating to a sell rating in a research note released on Saturday.

Other analysts have also issued reports about the stock. Clear Str upgraded shares of Trinity Capital to a “strong-buy” rating in a research note on Wednesday, February 4th. Citigroup reiterated an “outperform” rating on shares of Trinity Capital in a research note on Tuesday, January 27th. Loop Capital set a $17.00 price target on shares of Trinity Capital in a research report on Thursday, December 11th. Capital One Financial set a $17.00 price objective on shares of Trinity Capital in a report on Thursday, December 11th. Finally, Noble Financial began coverage on Trinity Capital in a research report on Thursday, December 11th. They issued a “buy” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $16.29.

Trinity Capital Stock Performance

Shares of NASDAQ TRIN opened at $14.34 on Friday. The company has a market capitalization of $1.19 billion, a price-to-earnings ratio of 7.32 and a beta of 0.55. The company has a 50 day simple moving average of $15.59 and a two-hundred day simple moving average of $15.33. Trinity Capital has a fifty-two week low of $12.50 and a fifty-two week high of $17.20.

Trinity Capital (NASDAQ:TRIN) last posted its quarterly earnings data on Wednesday, February 25th. The company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.01. The company had revenue of $58.89 million during the quarter, compared to analyst estimates of $79.83 million. Trinity Capital had a return on equity of 14.97% and a net margin of 46.18%. On average, analysts forecast that Trinity Capital will post 2.06 earnings per share for the current fiscal year.

Trinity Capital Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, June 30th. Investors of record on Thursday, June 11th will be given a dividend of $0.17 per share. This represents a c) dividend on an annualized basis and a yield of 14.2%. The ex-dividend date is Thursday, June 11th. Trinity Capital’s dividend payout ratio is 104.08%.

Insider Transactions at Trinity Capital

In other Trinity Capital news, CEO Kyle Steven Brown purchased 3,532 shares of Trinity Capital stock in a transaction dated Monday, March 16th. The stock was purchased at an average price of $14.16 per share, with a total value of $50,013.12. Following the transaction, the chief executive officer directly owned 620,709 shares of the company’s stock, valued at $8,789,239.44. This trade represents a 0.57% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Steve Louis Brown acquired 27,109 shares of the stock in a transaction dated Thursday, March 12th. The stock was acquired at an average price of $14.75 per share, for a total transaction of $399,857.75. Following the purchase, the chairman directly owned 940,745 shares in the company, valued at approximately $13,875,988.75. This trade represents a 2.97% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders acquired 37,682 shares of company stock worth $553,902. 5.31% of the stock is owned by corporate insiders.

Institutional Trading of Trinity Capital

Several large investors have recently added to or reduced their stakes in the business. Mutual Advisors LLC bought a new position in Trinity Capital in the 3rd quarter worth $1,421,000. AWM Capital LLC grew its holdings in Trinity Capital by 174.2% during the third quarter. AWM Capital LLC now owns 177,090 shares of the company’s stock valued at $2,741,000 after purchasing an additional 112,507 shares during the period. Beacon Pointe Advisors LLC bought a new stake in Trinity Capital during the second quarter valued at about $737,000. Prevail Innovative Wealth Advisors LLC purchased a new stake in Trinity Capital in the third quarter worth about $1,959,000. Finally, Allworth Financial LP purchased a new stake in Trinity Capital in the second quarter worth about $53,000. 24.62% of the stock is currently owned by 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.