Trinity Capital (NASDAQ:TRIN) Reaches New 12-Month High - Time to Buy?

Key Points

• Trinity Capital shares reached a new 52-week high of $18.59, well above the analyst consensus price target of $16.67. Despite the rally, analysts maintain a “Moderate Buy” consensus, with ratings ranging from Strong Buy to Sell.
• The company reported quarterly EPS of $0.51, slightly below the $0.52 consensus estimate, while revenue of $87.17 million also missed expectations of $91.44 million.
• Trinity Capital declared a monthly dividend of $0.17 per share, implying an annualized yield of about 11.0%; however, its payout ratio is elevated at 116.57%. CEO Kyle Steven Brown also purchased roughly $41,420 worth of shares.

Trinity Capital Inc. (NASDAQ:TRIN - Get Free Report) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $18.59 and last traded at $18.5360, with a volume of 258575 shares changing hands. The stock had previously closed at $18.35.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Wells Fargo & Company upped their target price on shares of Trinity Capital from $13.50 to $15.00 and gave the stock an "underweight" rating in a research note on Thursday, May 7th. Keefe, Bruyette & Woods boosted their price target 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. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $16.67.

Trinity Capital Stock Performance

The company has a 50-day moving average price of $17.61 and a 200-day moving average price of $16.42. The firm has a market capitalization of $1.76 billion, a price-to-earnings ratio of 9.84 and a beta of 0.61.

Trinity Capital (NASDAQ:TRIN - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.51 EPS for the quarter, missing analysts' consensus estimates of $0.52 by ($0.01). Trinity Capital had a net margin of 43.45% and a return on equity of 14.94%. The business had revenue of $87.17 million during the quarter, compared to analysts' expectations of $91.44 million. On average, research analysts expect that Trinity Capital Inc. will post 2.1 earnings per share for the current fiscal year.

Trinity Capital Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Thursday, September 10th will be paid a $0.17 dividend. This represents a c) annualized dividend and a yield of 11.0%. The ex-dividend date is Thursday, September 10th. Trinity Capital's dividend payout ratio is currently 116.57%.

Insiders Place Their Bets

In related news, CEO Kyle Steven Brown acquired 2,296 shares of the business's stock in a transaction on Friday, August 7th. The shares were bought at an average price of $18.04 per share, with a total value of $41,419.84. Following the completion of the acquisition, 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 ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 4.25% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of TRIN. Nomura Asset Management Co. Ltd. acquired a new stake in Trinity Capital during the 4th quarter worth $25,000. Trust Co. of Vermont acquired a new position in Trinity Capital in the second quarter valued at $25,000. Burk Holdings LLC purchased a new position in shares of Trinity Capital during the second quarter worth about $32,000. Sunbelt Securities Inc. purchased a new position in shares of Trinity Capital during the first quarter worth about $37,000. Finally, Fifth Third Bancorp acquired a new stake in shares of Trinity Capital during the first quarter worth about $37,000. 24.62% of the stock is owned by hedge funds and other institutional investors.

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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