Trinity Capital Inc. (NASDAQ:TRIN) Receives $16.29 Consensus Target Price from Analysts

Trinity Capital Inc. (NASDAQ:TRIN) has received a consensus rating of “Moderate Buy” from the eight brokerages that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, five have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $16.2857.

TRIN has been the subject of several recent research reports. Capital One Financial set a $17.00 price objective on Trinity Capital in a research note on Thursday, December 11th. Clear Str upgraded shares of Trinity Capital to a “strong-buy” rating in a research note on Wednesday, February 4th. Loop Capital set a $17.00 target price on shares of Trinity Capital in a report on Thursday, December 11th. Citizens Jmp set a $17.50 price target on shares of Trinity Capital in a research note on Monday, December 8th. Finally, Citigroup reiterated an “outperform” rating on shares of Trinity Capital in a report on Tuesday, January 27th.

Trinity Capital Trading Down 2.0%

Shares of NASDAQ TRIN opened at $14.34 on Wednesday. The stock has a market cap of $1.19 billion, a P/E ratio of 7.32 and a beta of 0.55. The business’s fifty day simple moving average is $15.59 and its 200-day simple moving average is $15.34. Trinity Capital has a 12-month low of $12.50 and a 12-month high of $17.20.

Trinity Capital (NASDAQ:TRIN) last released its earnings results on Wednesday, February 25th. The company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.51 by $0.01. Trinity Capital had a return on equity of 14.97% and a net margin of 46.18%.The firm had revenue of $58.89 million during the quarter, compared to analysts’ expectations of $79.83 million. On average, equities analysts forecast that Trinity Capital will post 2.06 EPS 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. Stockholders of record on Thursday, June 11th will be given a dividend of $0.17 per share. This represents a c) annualized dividend and a dividend yield of 14.2%. The ex-dividend date of this dividend is Thursday, June 11th. Trinity Capital’s payout ratio is 104.08%.

Insiders Place Their Bets

In other Trinity Capital news, Chairman Steve Louis Brown purchased 27,109 shares of the business’s stock in a transaction on Thursday, March 12th. The shares were bought at an average cost of $14.75 per share, for a total transaction of $399,857.75. Following the completion of the purchase, the chairman directly owned 940,745 shares in the company, valued at approximately $13,875,988.75. This represents a 2.97% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Kyle Steven Brown purchased 3,532 shares of the firm’s stock in a transaction on Monday, March 16th. The shares were acquired at an average cost of $14.16 per share, with a total value of $50,013.12. Following the completion of the acquisition, the chief executive officer directly owned 620,709 shares in the company, valued at $8,789,239.44. The trade was a 0.57% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders have purchased 37,682 shares of company stock valued at $553,902. Insiders own 5.31% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Mutual Advisors LLC acquired a new stake in shares of Trinity Capital during the third quarter worth about $1,421,000. AWM Capital LLC boosted its position in shares of Trinity Capital by 174.2% in the 3rd 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 acquired a new stake in shares of Trinity Capital in the 2nd quarter valued at about $737,000. Prevail Innovative Wealth Advisors LLC purchased a new position in Trinity Capital during the 3rd quarter worth approximately $1,959,000. Finally, Allworth Financial LP purchased a new position in Trinity Capital during the 2nd quarter worth approximately $53,000. Hedge funds and other institutional investors own 24.62% of the company’s stock.

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.