Trinity Capital (NASDAQ:TRIN) Price Target Lowered to $16.00 at B. Riley

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

Separately, UBS Group raised their target price on Trinity Capital from $16.00 to $16.50 and gave the stock a buy rating in a research report on Monday, March 18th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus target price of $15.50.

Trinity Capital Stock Performance

NASDAQ:TRIN traded up $0.15 during trading on Thursday, reaching $14.63. The company’s stock had a trading volume of 386,297 shares, compared to its average volume of 465,243. Trinity Capital has a 12 month low of $11.32 and a 12 month high of $15.44. The firm has a market cap of $723.89 million, a price-to-earnings ratio of 9.09 and a beta of 0.60. The firm has a 50 day moving average of $14.66 and a 200-day moving average of $14.50. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.06 and a current ratio of 0.06.

Trinity Capital (NASDAQ:TRIN) last issued its quarterly earnings results on Wednesday, May 1st. The company reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.03). Trinity Capital had a return on equity of 16.73% and a net margin of 36.12%. The company had revenue of $50.45 million during the quarter, compared to analysts’ expectations of $50.09 million. During the same period last year, the firm posted $0.52 earnings per share. Research analysts expect that Trinity Capital will post 2.19 EPS for the current fiscal year.

Trinity Capital Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were given a dividend of $0.51 per share. The ex-dividend date was Wednesday, March 27th. This is a boost from Trinity Capital’s previous quarterly dividend of $0.50. This represents a $2.04 annualized dividend and a dividend yield of 13.94%. Trinity Capital’s dividend payout ratio is currently 126.71%.

Insider Activity

In other news, CEO Kyle Steven Brown purchased 3,354 shares of the firm’s stock in a transaction dated Thursday, March 14th. The shares were purchased at an average price of $14.91 per share, with a total value of $50,008.14. Following the completion of the acquisition, the chief executive officer now owns 821,477 shares in the company, valued at approximately $12,248,222.07. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 7.75% of the stock is owned by company insiders.

Institutional Investors Weigh In On Trinity Capital

Institutional investors and hedge funds have recently bought and sold shares of the stock. Van ECK Associates Corp raised its position in shares of Trinity Capital by 14.5% during the 1st quarter. Van ECK Associates Corp now owns 911,266 shares of the company’s stock valued at $13,377,000 after buying an additional 115,134 shares in the last quarter. Commonwealth Equity Services LLC raised its position in Trinity Capital by 127.9% during the first quarter. Commonwealth Equity Services LLC now owns 68,021 shares of the company’s stock valued at $999,000 after purchasing an additional 38,172 shares in the last quarter. Triumph Capital Management bought a new stake in Trinity Capital during the first quarter worth about $475,000. PFG Investments LLC purchased a new position in shares of Trinity Capital in the 1st quarter worth about $158,000. Finally, AWM Capital LLC increased its position in shares of Trinity Capital by 17.6% during the 1st quarter. AWM Capital LLC now owns 41,218 shares of the company’s stock valued at $605,000 after purchasing an additional 6,173 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.