Trinity Capital (NASDAQ:TRIN) Reaches New 12-Month High – Here’s What Happened

Trinity Capital Inc. (NASDAQ:TRIN)’s stock price hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $15.31 and last traded at $15.34, with a volume of 294931 shares trading hands. 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 price target on shares of Trinity Capital in a research report on Monday, December 2nd.

Trinity Capital Stock Up 1.6 %

The firm has a 50-day moving average price of $14.56 and a two-hundred day moving average price of $14.20. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.05 and a current ratio of 0.05. The firm has a market cap of $901.32 million, a price-to-earnings ratio of 8.95 and a beta of 0.55.

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

Trinity Capital Dividend Announcement

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

Insider Buying and Selling at Trinity Capital

In related news, Chairman Steve Louis Brown acquired 19,350 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The stock was purchased at an average price of $13.12 per share, for a total transaction of $253,872.00. Following the transaction, the chairman now owns 722,182 shares in the company, valued at $9,475,027.84. This trade represents a 2.75 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 6.38% of the stock is owned by corporate insiders.

Institutional Trading of Trinity Capital

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Emerald Advisers LLC lifted its stake in shares of Trinity Capital by 11.3% during the third quarter. Emerald Advisers LLC now owns 804,942 shares of the company’s stock worth $10,923,000 after purchasing an additional 82,001 shares in the last quarter. Hennion & Walsh Asset Management Inc. grew its stake in Trinity Capital by 37.7% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 201,509 shares of the company’s stock valued at $2,734,000 after purchasing an additional 55,131 shares in the last quarter. State Street Corp increased its holdings in Trinity Capital by 3.3% during the 3rd quarter. State Street Corp now owns 61,170 shares of the company’s stock worth $861,000 after purchasing an additional 1,936 shares during the last quarter. Van ECK Associates Corp raised its position in shares of Trinity Capital by 14.3% in the 3rd quarter. Van ECK Associates Corp now owns 1,301,090 shares of the company’s stock valued at $17,902,000 after purchasing an additional 162,905 shares in the last quarter. Finally, Millennium Management LLC grew its position in shares of Trinity Capital by 527.8% during the second 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. Hedge funds and other institutional investors own 24.62% of the company’s stock.

Trinity Capital Company Profile

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.