Trinity Capital (NASDAQ:TRIN) Price Target Cut to $16.00

Trinity Capital (NASDAQ:TRIN) had its price target reduced by B. Riley from $16.50 to $16.00 in a research note released on Thursday, Benzinga reports. B. Riley currently has a buy rating on the stock.

Separately, UBS Group increased their price objective on Trinity Capital from $16.00 to $16.50 and gave the company a buy rating in a research report on Monday, March 18th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $15.50.

Trinity Capital Trading Up 1.0 %

Shares of Trinity Capital stock opened at $14.63 on Thursday. The business has a fifty day simple moving average of $14.66 and a 200-day simple moving average of $14.51. The firm has a market cap of $723.89 million, a price-to-earnings ratio of 9.09 and a beta of 0.60. Trinity Capital has a fifty-two week low of $11.32 and a fifty-two week high of $15.44. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.08.

Trinity Capital (NASDAQ:TRIN) last posted its quarterly earnings data on Wednesday, May 1st. The company reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.03). Trinity Capital had a net margin of 36.12% and a return on equity of 16.73%. The business had revenue of $50.45 million for the quarter, compared to the consensus estimate of $50.09 million. During the same quarter last year, the business posted $0.52 EPS. On average, equities analysts forecast that Trinity Capital will post 2.14 EPS for the current fiscal year.

Trinity Capital Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were paid a $0.51 dividend. This is a positive change from Trinity Capital’s previous quarterly dividend of $0.50. The ex-dividend date was Wednesday, March 27th. This represents a $2.04 dividend on an annualized basis and a yield of 13.94%. Trinity Capital’s dividend payout ratio (DPR) is currently 126.71%.

Insiders Place Their Bets

In other Trinity Capital news, CEO Kyle Steven Brown bought 3,354 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was acquired at an average price of $14.91 per share, with a total value of $50,008.14. Following the completion of the transaction, the chief executive officer now directly owns 821,477 shares in the company, valued at approximately $12,248,222.07. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 7.75% of the company’s stock.

Institutional Trading of Trinity Capital

Hedge funds have recently made changes to their positions in the stock. Tucker Asset Management LLC acquired a new position in Trinity Capital in the 4th quarter valued at approximately $45,000. Tower Research Capital LLC TRC increased its stake in shares of Trinity Capital by 3,460.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,560 shares of the company’s stock worth $52,000 after acquiring an additional 3,460 shares during the last quarter. Avior Wealth Management LLC raised its holdings in shares of Trinity Capital by 76.9% during the fourth quarter. Avior Wealth Management LLC now owns 4,119 shares of the company’s stock worth $60,000 after acquiring an additional 1,791 shares in the last quarter. Cape Investment Advisory Inc. acquired a new stake in Trinity Capital during the fourth quarter valued at $107,000. Finally, C M Bidwell & Associates Ltd. acquired a new position in Trinity Capital in the 3rd quarter worth about $126,000. 24.62% of the stock is owned by hedge funds and other institutional investors.

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.