Trinity Capital (NASDAQ:TRIN) Price Target Raised to $17.00

Key Points

• B. Riley raised the price target for Trinity Capital (NASDAQ:TRIN) from $16.00 to $17.00, indicating a potential upside of 9.78% from the current price.
• Trinity Capital recently reported $0.53 earnings per share, slightly beating the consensus estimate of $0.52, with total revenue of $69.48 million for the quarter.
• Insiders have shown mixed activity with Director Richard P. Hamada selling shares while CEO Kyle Steven Brown increased his ownership, acquiring more shares at an average price of $14.22.

Trinity Capital (NASDAQ:TRIN - Get Free Report) had its target price raised by B. Riley from $16.00 to $17.00 in a report issued on Thursday,Benzinga reports. The firm presently has a "buy" rating on the stock. B. Riley's price target suggests a potential upside of 9.78% from the company's current price.

TRIN has been the subject of several other research reports. Keefe, Bruyette & Woods lowered their price objective on Trinity Capital from $16.00 to $15.00 and set a "market perform" rating for the company in a research note on Thursday, May 8th. Wells Fargo & Company reduced their price target on Trinity Capital from $14.00 to $13.00 and set an "underweight" rating on the stock in a research note on Monday, April 28th. Finally, UBS Group increased their target price on Trinity Capital from $17.00 to $17.50 and gave the stock a "buy" rating in a research report on Wednesday, July 16th.

Trinity Capital Price Performance

Shares of TRIN stock traded up $0.16 during midday trading on Thursday, reaching $15.49. 248,753 shares of the company traded hands, compared to its average volume of 640,177. The firm has a market cap of $1.00 billion, a PE ratio of 7.07 and a beta of 0.54. Trinity Capital has a 1-year low of $12.50 and a 1-year high of $16.82. The firm's 50 day simple moving average is $14.57 and its two-hundred day simple moving average is $14.94.

Trinity Capital (NASDAQ:TRIN - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.01. Trinity Capital had a net margin of 50.74% and a return on equity of 15.91%. The firm had revenue of $69.48 million during the quarter, compared to analyst estimates of $68.84 million. As a group, research analysts anticipate that Trinity Capital will post 2.06 earnings per share for the current fiscal year.

Insider Buying and Selling at Trinity Capital

In other Trinity Capital news, Director Richard P. Hamada sold 3,335 shares of Trinity Capital stock in a transaction on Monday, May 19th. The shares were sold at an average price of $14.90, for a total value of $49,691.50. Following the completion of the sale, the director directly owned 93,735 shares of the company's stock, valued at approximately $1,396,651.50. The trade was a 3.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Kyle Steven Brown bought 3,513 shares of the company's stock in a transaction on Friday, May 9th. The stock was bought at an average price of $14.22 per share, for a total transaction of $49,954.86. Following the completion of the purchase, the chief executive officer owned 55,332 shares of the company's stock, valued at approximately $786,821.04. The trade was a 6.78% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 6,213 shares of company stock valued at $89,005 in the last three months. 5.31% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Kennedy Capital Management LLC boosted its holdings in shares of Trinity Capital by 0.3% in the fourth quarter. Kennedy Capital Management LLC now owns 220,336 shares of the company's stock valued at $3,188,000 after acquiring an additional 676 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Trinity Capital by 9.0% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 12,173 shares of the company's stock valued at $176,000 after buying an additional 1,000 shares during the period. PFG Investments LLC boosted its position in Trinity Capital by 9.9% during the 1st quarter. PFG Investments LLC now owns 13,204 shares of the company's stock valued at $200,000 after purchasing an additional 1,188 shares during the period. Canton Hathaway LLC increased its holdings in shares of Trinity Capital by 1.4% during the second quarter. Canton Hathaway LLC now owns 96,571 shares of the company's stock valued at $1,359,000 after purchasing an additional 1,315 shares during the period. Finally, Blue Trust Inc. raised its position in shares of Trinity Capital by 40.3% during the second quarter. Blue Trust Inc. now owns 5,929 shares of the company's stock worth $83,000 after purchasing an additional 1,704 shares during the period. 24.62% of the stock is currently owned by 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.

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