Trinity Capital Inc. (NASDAQ:TRIN – Get Free Report)’s share price passed above its 50-day moving average during trading on Wednesday. The stock has a 50-day moving average of $17.44 and traded as high as $18.04. Trinity Capital shares last traded at $17.9020, with a volume of 1,573,322 shares traded.
Wall Street Analyst Weigh In
Separately, Keefe, Bruyette & Woods lifted their price objective on shares of Trinity Capital from $16.00 to $16.50 and gave the company a “market perform” rating in a report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.60.
View Our Latest Stock Report on Trinity Capital
Trinity Capital Price Performance
The business has a 50-day moving average of $17.44 and a two-hundred day moving average of $16.71. The company has a market cap of $1.70 billion, a P/E ratio of 9.47 and a beta of 0.66.
Trinity Capital (NASDAQ:TRIN – Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.01). Trinity Capital had a net margin of 43.45% and a return on equity of 14.94%. The firm had revenue of $87.17 million during the quarter, compared to analyst estimates of $91.44 million. Equities analysts anticipate that Trinity Capital Inc. will post 2.10 EPS for the current fiscal year.
Trinity Capital Announces Dividend
The company also recently declared a monthly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Friday, December 11th will be paid a dividend of $0.17 per share. This represents a $2.04 annualized dividend and a yield of 11.4%. The ex-dividend date is Friday, December 11th. Trinity Capital’s payout ratio is presently 116.57%.
Insiders Place Their Bets
In other Trinity Capital news, CEO Kyle Brown purchased 2,296 shares of the business’s stock in a transaction that occurred on Friday, August 7th. The shares were bought at an average price of $18.04 per share, for a total transaction of $41,419.84. Following the acquisition, the chief executive officer owned 612,262 shares in the company, valued at $11,045,206.48. This represents a 0.38% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 4.25% of the company’s stock.
Institutional Investors Weigh In On Trinity Capital
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Trust Co. of Vermont purchased a new position in Trinity Capital in the second quarter valued at $25,000. Burk Holdings LLC purchased a new stake in shares of Trinity Capital during the second quarter worth approximately $32,000. Fifth Third Bancorp purchased a new position in Trinity Capital in the 1st quarter valued at $37,000. Sunbelt Securities Inc. purchased a new position in Trinity Capital in the 1st quarter valued at $37,000. Finally, State of Alaska Department of Revenue acquired a new stake in Trinity Capital during the 3rd quarter worth $64,000. 24.62% of the stock is owned by institutional investors and hedge funds.
Trinity Capital Company Profile
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.
Recommended Stories
- Five stocks we like better than Trinity Capital
- 3 AI Infrastructure Plays Beyond Chipmakers
- Keurig Dr Pepper’s Beverage Growth Raises a Tough Question About Its Coffee Split
- Why ExxonMobil and Chevron Reminded Investors to Keep it Simple
- Amazon Has Erased Its Earnings Sell-Off, But Is the Biggest Opportunity Still Ahead?
Receive News & Ratings for Trinity Capital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Trinity Capital and related companies with MarketBeat.com's FREE daily email newsletter.
