Trinity Capital (NASDAQ:TRIN) Stock Crosses Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• Trinity Capital shares crossed above their 200-day moving average, reaching $16.83 and last trading at $16.7850, up 2.0%. The stock’s 200-day average is $16.67, while its 50-day average is $17.57.
• Analysts have an overall “Moderate Buy” rating with an average price target of $16.60; Keefe, Bruyette & Woods recently raised its target to $16.50. Trinity Capital’s latest quarterly results slightly missed expectations, with EPS of $0.51 versus $0.52 expected and revenue of $87.17 million versus $91.44 million estimated.
• The company declared a $0.17 monthly dividend, equivalent to $2.04 annually and a 12.2% yield, although its payout ratio is high at 116.57%. CEO Kyle Brown also purchased 2,296 shares, while institutional investors own 24.62% of the stock.

Trinity Capital Inc. (NASDAQ:TRIN - Get Free Report) shares passed above its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $16.67 and traded as high as $16.83. Trinity Capital shares last traded at $16.7850, with a volume of 728,665 shares.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods upped their target price on shares of Trinity Capital from $16.00 to $16.50 and gave the company a "market perform" rating in a research note on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $16.60.

Trinity Capital Trading Up 2.0%

The business has a 50-day moving average price of $17.57 and a two-hundred day moving average price of $16.67. The firm has a market capitalization of $1.59 billion, a price-to-earnings ratio of 8.88 and a beta of 0.63.

Trinity Capital (NASDAQ:TRIN - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.01). The company had revenue of $87.17 million during the quarter, compared to the consensus estimate of $91.44 million. Trinity Capital had a return on equity of 14.94% and a net margin of 43.45%. On average, equities research analysts predict that Trinity Capital Inc. will post 2.10 earnings per share for the current fiscal year.

Trinity Capital Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Friday, December 11th will be issued a dividend of $0.17 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 12.2%. The ex-dividend date of this dividend is Friday, December 11th. Trinity Capital's payout ratio is 116.57%.

Insiders Place Their Bets

In other Trinity Capital news, CEO Kyle Brown purchased 2,296 shares of the firm's stock in a transaction dated Friday, August 7th. The stock was bought at an average price of $18.04 per share, with a total value of $41,419.84. Following the completion of the purchase, the chief executive officer owned 612,262 shares in the company, valued at $11,045,206.48. This trade represents a 0.38% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 4.25% of the stock is owned by insiders.

Institutional Trading of Trinity Capital

A number of institutional investors have recently made changes to their positions in the stock. Total Clarity Wealth Management Inc. acquired a new stake in Trinity Capital during the 3rd quarter worth about $203,000. Oppenheimer & Co. Inc. boosted its holdings in shares of Trinity Capital by 3.4% in the third quarter. Oppenheimer & Co. Inc. now owns 48,702 shares of the company's stock worth $855,000 after buying an additional 1,621 shares during the period. Brookstone Capital Management boosted its holdings in shares of Trinity Capital by 15.8% in the third quarter. Brookstone Capital Management now owns 13,428 shares of the company's stock worth $236,000 after buying an additional 1,833 shares during the period. Sterling Investment Counsel LLC acquired a new position in shares of Trinity Capital in the third quarter worth about $206,000. Finally, AWM Capital LLC increased its position in shares of Trinity Capital by 5.4% in the third quarter. AWM Capital LLC now owns 90,352 shares of the company's stock worth $1,586,000 after acquiring an additional 4,658 shares in the last quarter. 24.62% of the stock is owned by institutional investors and hedge funds.

About Trinity Capital

Trinity Capital Inc NASDAQ: TRIN is a business development company that provides debt financing to venture capital- and private equity-backed companies. The company focuses primarily on growth-stage businesses that may require capital to support expansion, product development, acquisitions, working capital and other corporate needs.

Through its investment platform, Trinity Capital offers a range of financing solutions, including secured loans, equipment financing, growth capital and other customized debt structures.

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