UBS Group Forecasts Strong Price Appreciation for Trinity Capital (NASDAQ:TRIN) Stock

Trinity Capital (NASDAQ:TRIN) had its price target lifted by investment analysts at UBS Group from $17.00 to $17.50 in a report released on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. UBS Group’s price objective points to a potential upside of 16.90% from the company’s previous close.

Several other research firms also recently commented on TRIN. Keefe, Bruyette & Woods reduced their price target on shares of Trinity Capital from $16.00 to $15.00 and set a “market perform” rating for the company in a research report on Thursday, May 8th. Wells Fargo & Company dropped their price objective on shares of Trinity Capital from $14.00 to $13.00 and set an “underweight” rating on the stock in a research note on Monday, April 28th. Finally, B. Riley started coverage on shares of Trinity Capital in a research note on Tuesday, May 13th. They issued a “buy” rating and a $16.00 price objective on the stock.

Trinity Capital Price Performance

TRIN stock opened at $14.97 on Wednesday. The company has a fifty day moving average price of $14.47 and a 200 day moving average price of $14.89. Trinity Capital has a 12 month low of $12.50 and a 12 month high of $16.82. The company has a market cap of $967.81 million, a price-to-earnings ratio of 6.84 and a beta of 0.53.

Trinity Capital (NASDAQ:TRIN) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.52 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.01). Trinity Capital had a net margin of 50.74% and a return on equity of 15.91%. The business had revenue of $65.39 million during the quarter, compared to analysts’ expectations of $67.67 million. As a group, analysts anticipate that Trinity Capital will post 2.06 earnings per share for the current year.

Insider Buying and Selling at Trinity Capital

In related news, CEO Kyle Steven Brown purchased 3,513 shares of the stock in a transaction dated Friday, May 9th. The shares were acquired at an average cost of $14.22 per share, with a total value of $49,954.86. Following the purchase, the chief executive officer directly owned 55,332 shares in the company, valued at $786,821.04. This trade represents a 6.78% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Richard P. Hamada sold 3,335 shares of the company’s stock in a transaction on Monday, May 19th. The stock was sold at an average price of $14.90, for a total transaction of $49,691.50. Following the transaction, the director directly owned 93,735 shares in the company, valued at approximately $1,396,651.50. This trade represents a 3.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders acquired a total of 6,213 shares of company stock worth $89,005 over the last three months. 5.31% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Trinity Capital

A number of institutional investors and hedge funds have recently made changes to their positions in TRIN. Raymond James Financial Inc. acquired a new position in shares of Trinity Capital during the 4th quarter worth $708,000. Commonwealth Equity Services LLC grew its stake in shares of Trinity Capital by 24.1% during the 4th quarter. Commonwealth Equity Services LLC now owns 116,600 shares of the company’s stock worth $1,687,000 after purchasing an additional 22,657 shares during the period. Corient Private Wealth LLC grew its stake in shares of Trinity Capital by 2.0% during the 4th quarter. Corient Private Wealth LLC now owns 80,101 shares of the company’s stock worth $1,159,000 after purchasing an additional 1,554 shares during the period. Axxcess Wealth Management LLC acquired a new position in shares of Trinity Capital during the 4th quarter worth $158,000. Finally, Advisors Asset Management Inc. grew its stake in shares of Trinity Capital by 75.8% during the 4th quarter. Advisors Asset Management Inc. now owns 177,238 shares of the company’s stock worth $2,565,000 after purchasing an additional 76,401 shares during the period. 24.62% of the stock is owned by institutional investors and hedge funds.

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.