Trinity Capital (NASDAQ:TRIN) Reaches New 1-Year High – Still a Buy?

Trinity Capital Inc. (NASDAQ:TRIN) reached a new 52-week high during trading on Friday . The company traded as high as $15.31 and last traded at $15.34, with a volume of 294931 shares traded. The stock had previously closed at $15.06.

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company restated an “underweight” rating and set a $13.00 target price on shares of Trinity Capital in a report on Monday, December 2nd.

Trinity Capital Stock Up 1.6 %

The business’s 50 day simple moving average is $14.56 and its 200 day simple moving average is $14.20. The company has a market capitalization of $901.32 million, a PE ratio of 8.95 and a beta of 0.55. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.07.

Trinity Capital (NASDAQ:TRIN) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.52 EPS for the quarter, hitting analysts’ consensus estimates of $0.52. Trinity Capital had a net margin of 40.73% and a return on equity of 15.90%. The firm had revenue of $61.77 million during the quarter, compared to analyst estimates of $55.82 million. During the same quarter last year, the business posted $0.55 EPS. As a group, analysts forecast that Trinity Capital Inc. will post 2.06 EPS for the current year.

Trinity Capital Announces Dividend

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

Insider Buying and Selling

In other news, Chairman Steve Louis Brown acquired 19,350 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The stock was acquired at an average cost of $13.12 per share, for a total transaction of $253,872.00. Following the completion of the acquisition, the chairman now owns 722,182 shares in the company, valued at approximately $9,475,027.84. The trade was a 2.75 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 6.38% of the company’s stock.

Institutional Investors Weigh In On Trinity Capital

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Cubist Systematic Strategies LLC bought a new position in Trinity Capital during the second quarter valued at about $386,000. Millennium Management LLC raised its stake in shares of Trinity Capital by 527.8% in the 2nd quarter. Millennium Management LLC now owns 252,587 shares of the company’s stock valued at $3,572,000 after acquiring an additional 212,353 shares in the last quarter. Cornerstone Wealth Management LLC lifted its holdings in Trinity Capital by 9.5% in the 3rd quarter. Cornerstone Wealth Management LLC now owns 22,798 shares of the company’s stock worth $309,000 after purchasing an additional 1,983 shares during the last quarter. Blue Trust Inc. boosted its position in Trinity Capital by 522.1% during the third quarter. Blue Trust Inc. now owns 7,714 shares of the company’s stock worth $109,000 after purchasing an additional 6,474 shares during the period. Finally, Private Advisor Group LLC grew its holdings in Trinity Capital by 26.2% during the third quarter. Private Advisor Group LLC now owns 18,409 shares of the company’s stock valued at $250,000 after purchasing an additional 3,819 shares during the last quarter. 24.62% of the stock is owned by hedge funds and other institutional investors.

About Trinity Capital

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.