Trinity Capital (NASDAQ:TRIN) Hits New 1-Year High - Should You Buy?

Key Points

• Trinity Capital shares reached a new 52-week high of $18.27 and last traded near $18.24, above their 50-day and 200-day moving averages.
• Analyst sentiment is broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $16.67—below the current share price. Recent target changes included increases from Keefe, Bruyette & Woods and Wells Fargo, although Wells Fargo maintained an “underweight” rating.
• The company announced a monthly $0.17 dividend, implying an annualized yield of 11.2%, but its payout ratio is elevated at 116.57%. Institutional investors and hedge funds own 24.62% of the stock.

Trinity Capital Inc. (NASDAQ:TRIN - Get Free Report)'s stock price hit a new 52-week high on Monday . The company traded as high as $18.27 and last traded at $18.2440, with a volume of 772036 shares changing hands. The stock had previously closed at $18.05.

Analysts Set New Price Targets

TRIN has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods increased their price objective on shares of Trinity Capital from $16.00 to $16.50 and gave the stock a "market perform" rating in a report on Thursday. Wells Fargo & Company boosted their target price on Trinity Capital from $13.50 to $15.00 and gave the stock an "underweight" rating in a research report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Trinity Capital presently has an average rating of "Moderate Buy" and a consensus price target of $16.67.

Trinity Capital Stock Performance

The firm's fifty day simple moving average is $17.37 and its 200 day simple moving average is $16.31. The stock has a market capitalization of $1.73 billion, a price-to-earnings ratio of 9.68 and a beta of 0.61.

Trinity Capital Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Thursday, September 10th will be issued a $0.17 dividend. This represents a c) annualized dividend and a dividend yield of 11.2%. The ex-dividend date of this dividend is Thursday, September 10th. Trinity Capital's dividend payout ratio is presently 116.57%.

Hedge Funds Weigh In On Trinity Capital

Several institutional investors and hedge funds have recently modified their holdings of the stock. UBS Group AG grew its position in shares of Trinity Capital by 28.8% during the 4th quarter. UBS Group AG now owns 1,038,928 shares of the company's stock worth $15,220,000 after buying an additional 232,031 shares during the period. Closed End Fund Advisors Inc. acquired a new position in shares of Trinity Capital during the 4th quarter valued at $5,493,000. Independent Financial Group LLC bought a new position in Trinity Capital during the first quarter worth $933,000. Rockefeller Capital Management L.P. grew its holdings in Trinity Capital by 5.3% in the fourth quarter. Rockefeller Capital Management L.P. now owns 964,548 shares of the company's stock worth $14,131,000 after purchasing an additional 48,764 shares during the period. Finally, Tudor Investment Corp ET AL increased its stake in Trinity Capital by 293.6% in the third quarter. Tudor Investment Corp ET AL now owns 79,029 shares of the company's stock valued at $1,223,000 after purchasing an additional 58,952 shares in the last quarter. 24.62% of the stock is currently owned by institutional investors and hedge funds.

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.

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