Brokerages Set Trinity Capital Inc. (NASDAQ:TRIN) Price Target at $16.29

by · The Cerbat Gem

Shares of Trinity Capital Inc. (NASDAQ:TRINGet Free Report) have been given a consensus recommendation of “Moderate Buy” by the eight brokerages that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, five have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $16.2857.

Several research analysts recently weighed in on the company. Citigroup reissued an “outperform” rating on shares of Trinity Capital in a research report on Tuesday, January 27th. Wall Street Zen raised Trinity Capital from a “sell” rating to a “hold” rating in a research report on Sunday, March 29th. Finally, Clear Str raised Trinity Capital to a “strong-buy” rating in a research report on Wednesday, February 4th.

Get Our Latest Stock Analysis on Trinity Capital

Trinity Capital Trading Up 1.8%

NASDAQ:TRIN opened at $15.50 on Friday. The firm has a market capitalization of $1.29 billion, a price-to-earnings ratio of 7.91 and a beta of 0.55. Trinity Capital has a 1-year low of $13.75 and a 1-year high of $17.20. The business’s fifty day moving average price is $15.05 and its 200 day moving average price is $15.17.

Trinity Capital (NASDAQ:TRINGet Free Report) last posted its quarterly earnings results on Wednesday, February 25th. The company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.01. The firm had revenue of $58.89 million for 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%. Equities analysts forecast that Trinity Capital will post 2.06 earnings per share for the current year.

Trinity Capital Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Thursday, June 11th will be given a $0.17 dividend. This represents a c) annualized dividend and a yield of 13.2%. The ex-dividend date of this dividend is Thursday, June 11th. Trinity Capital’s dividend payout ratio is presently 104.08%.

Insider Activity

In other news, Chairman Steve Louis Brown bought 27,109 shares of the company’s stock in a transaction on Thursday, March 12th. The shares were bought at an average cost of $14.75 per share, with a total value of $399,857.75. Following the transaction, 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 position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Kyle Steven Brown bought 3,532 shares of the company’s stock in a transaction on Monday, March 16th. The stock was purchased at an average cost of $14.16 per share, for a total transaction of $50,013.12. Following the completion of the transaction, the chief executive officer owned 620,709 shares in the company, valued at approximately $8,789,239.44. The trade was a 0.57% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders acquired 37,682 shares of company stock worth $553,902. Insiders own 6.38% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of TRIN. Marshall Wace LLP increased its position in Trinity Capital by 4,587.0% in the 3rd quarter. Marshall Wace LLP now owns 1,151,272 shares of the company’s stock worth $17,822,000 after purchasing an additional 1,126,709 shares during the last quarter. Sound Income Strategies LLC increased its position in Trinity Capital by 58,959.3% in the 4th quarter. Sound Income Strategies LLC now owns 944,948 shares of the company’s stock worth $15,318,000 after purchasing an additional 943,348 shares during the last quarter. Eagle Point Credit Management LLC bought a new stake in shares of Trinity Capital during the 4th quarter worth about $10,657,000. Two Sigma Investments LP boosted its stake in shares of Trinity Capital by 83.5% during the 3rd quarter. Two Sigma Investments LP now owns 986,184 shares of the company’s stock worth $15,266,000 after acquiring an additional 448,626 shares in the last quarter. Finally, Closed End Fund Advisors Inc. bought a new stake in shares of Trinity Capital during the 4th quarter worth about $5,493,000. 24.62% of the stock is owned by institutional investors and hedge funds.

About Trinity Capital

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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.

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