Trinity Capital Inc. (NASDAQ:TRIN) Stock Has Average Price Target of $16.67

Trinity Capital Inc. (NASDAQ:TRIN) has been assigned a consensus recommendation of “Moderate Buy” from the seven ratings firms that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $16.67.

Separately, Keefe, Bruyette & Woods boosted their target price on shares of Trinity Capital from $16.00 to $16.50 and gave the stock a “market perform” rating in a report on Thursday, August 6th.

Trinity Capital Stock Down 0.2%

NASDAQ:TRIN opened at $17.39 on Friday. The business’s 50-day moving average price is $17.98 and its 200 day moving average price is $17.04. Trinity Capital has a 52-week low of $14.13 and a 52-week high of $18.90. The firm has a market cap of $1.65 billion, a P/E ratio of 9.20 and a beta of 0.63.

Trinity Capital (NASDAQ:TRIN) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). The business had revenue of $87.17 million during the quarter, compared to analyst estimates of $91.44 million. Trinity Capital had a net margin of 43.45% and a return on equity of 14.94%. Sell-side analysts expect that Trinity Capital will post 2.1 EPS for the current year.

Trinity Capital Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Friday, December 11th will be given a $0.17 dividend. The ex-dividend date is Friday, December 11th. This represents a $2.04 annualized dividend and a yield of 11.7%. Trinity Capital’s payout ratio is 116.57%.

Insider Activity

In related news, CEO Kyle Brown acquired 2,296 shares of the business’s stock in a transaction dated Friday, August 7th. The stock was bought at an average price of $18.04 per share, for a total transaction of $41,419.84. Following the transaction, the chief executive officer owned 612,262 shares of the company’s stock, valued at approximately $11,045,206.48. The trade was a 0.38% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 4.25% of the company’s stock.

Hedge Funds Weigh In On Trinity Capital

A number of hedge funds have recently modified their holdings of TRIN. Exeter Financial LLC lifted its holdings in shares of Trinity Capital by 6.6% during the first quarter. Exeter Financial LLC now owns 11,589 shares of the company’s stock valued at $170,000 after purchasing an additional 717 shares during the last quarter. Values First Advisors Inc. boosted its position in shares of Trinity Capital by 6.0% in the 1st quarter. Values First Advisors Inc. now owns 18,441 shares of the company’s stock valued at $271,000 after purchasing an additional 1,047 shares during the period. Geneos Wealth Management Inc. boosted its position in shares of Trinity Capital by 6.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 17,312 shares of the company’s stock valued at $255,000 after purchasing an additional 1,079 shares during the period. Trust Co. of Vermont purchased a new position in Trinity Capital in the 2nd quarter worth about $25,000. Finally, Empowered Funds LLC increased its stake in Trinity Capital by 10.5% in the 1st quarter. Empowered Funds LLC now owns 16,877 shares of the company’s stock worth $248,000 after purchasing an additional 1,601 shares in the last quarter. 24.62% of the stock is currently owned by institutional investors and hedge funds.

Trinity Capital Company Profile

Trinity Capital Inc is a business development company that provides debt financing to venture capital- and private equity-backed companies, primarily those in the growth stage of their development. The company seeks to support businesses that may not yet have consistent access to traditional bank financing.

Its offerings include venture debt, term loans, equipment financing and other structured lending solutions designed to fund product development, capital expenditures, acquisitions, working capital and general corporate purposes.