Trinity Capital (NASDAQ:TRIN) Sets New 52-Week High - Here's What Happened

Key Points

• Trinity Capital shares hit a new 52-week high of $17.23 Wednesday (last trade $17.185), with the stock trading up about 1.8% and a market cap near $1.54 billion.
• The company missed quarterly expectations, reporting EPS of $0.36 versus $0.52 expected and revenue of $51.37 million versus $85.87 million consensus.
• Trinity declared a monthly $0.17 dividend (an implied 11.8% yield) but has a payout ratio of about 104%; analysts' consensus is a "Moderate Buy" with a $16.29 target, and insiders have recently increased their holdings.

Trinity Capital Inc. (NASDAQ:TRIN - Get Free Report)'s share price hit a new 52-week high on Wednesday . The company traded as high as $17.23 and last traded at $17.1850, with a volume of 1053617 shares. The stock had previously closed at $16.97.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on TRIN shares. Citigroup reaffirmed an "outperform" rating on shares of Trinity Capital in a research report on Tuesday, January 27th. Clear Str raised shares of Trinity Capital to a "strong-buy" rating in a research report on Wednesday, February 4th. Finally, Wall Street Zen raised shares of Trinity Capital from a "sell" rating to a "hold" rating in a research report on Sunday, March 29th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Trinity Capital presently has an average rating of "Moderate Buy" and a consensus target price of $16.29.

Trinity Capital Trading Up 1.8%

The business's 50-day moving average is $15.15 and its two-hundred day moving average is $15.26. The stock has a market capitalization of $1.54 billion, a PE ratio of 8.82 and a beta of 0.63.

Trinity Capital (NASDAQ:TRIN - Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.36 earnings per share for the quarter, missing analysts' consensus estimates of $0.52 by ($0.16). Trinity Capital had a return on equity of 14.97% and a net margin of 46.18%.The business had revenue of $51.37 million for the quarter, compared to analysts' expectations of $85.87 million. On average, analysts predict that Trinity Capital Inc. will post 2.05 EPS for the current year.

Trinity Capital Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Thursday, June 11th will be given a $0.17 dividend. This represents a c) dividend on an annualized basis and a yield of 11.8%. The ex-dividend date of this dividend is Thursday, June 11th. Trinity Capital's dividend payout ratio is presently 104.08%.

Insider Transactions at Trinity Capital

In other news, CEO Kyle Steven Brown acquired 3,532 shares of the firm's stock in a transaction on Monday, March 16th. The stock was bought at an average cost of $14.16 per share, with a total value of $50,013.12. Following the transaction, the chief executive officer directly owned 620,709 shares in the company, valued at approximately $8,789,239.44. This represents a 0.57% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Steve Louis Brown acquired 27,109 shares of the firm's stock in a transaction on Thursday, March 12th. The stock was purchased at an average cost of $14.75 per share, with a total value of $399,857.75. Following the completion of the transaction, the chairman owned 940,745 shares in the company, valued at $13,875,988.75. The trade was a 2.97% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders acquired 37,682 shares of company stock valued at $553,902. 6.38% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Trinity Capital

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Van ECK Associates Corp boosted its position in Trinity Capital by 2.2% in the 4th quarter. Van ECK Associates Corp now owns 1,785,503 shares of the company's stock valued at $26,158,000 after buying an additional 39,286 shares during the last quarter. Melia Wealth LLC boosted its position in Trinity Capital by 1.2% in the 4th quarter. Melia Wealth LLC now owns 1,193,518 shares of the company's stock valued at $17,485,000 after buying an additional 14,222 shares during the last quarter. Sound Income Strategies LLC boosted its position in Trinity Capital by 22.8% in the 1st quarter. Sound Income Strategies LLC now owns 1,160,453 shares of the company's stock valued at $17,163,000 after buying an additional 215,505 shares during the last quarter. Marshall Wace LLP boosted its position in Trinity Capital by 4,587.0% in the 3rd quarter. Marshall Wace LLP now owns 1,151,272 shares of the company's stock valued at $17,822,000 after buying an additional 1,126,709 shares during the last quarter. Finally, UBS Group AG boosted its position in Trinity Capital by 28.8% in the 4th quarter. UBS Group AG now owns 1,038,928 shares of the company's stock valued at $15,220,000 after buying an additional 232,031 shares during the last quarter. 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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