Trinity Capital (NASDAQ:TRIN) Reaches New 52-Week High – Here’s What Happened

Trinity Capital Inc. (NASDAQ:TRIN)’s share price hit a new 52-week high during trading on Tuesday . The stock traded as high as $18.13 and last traded at $18.1050, with a volume of 234633 shares. The stock had previously closed at $17.83.

Analysts Set New Price Targets

TRIN has been the subject of several recent analyst reports. Keefe, Bruyette & Woods increased their price target on Trinity Capital from $15.00 to $16.00 and gave the stock a “market perform” rating in a report on Thursday, May 7th. Wells Fargo & Company lifted their price objective on Trinity Capital from $13.50 to $15.00 and gave the company an “underweight” rating in a report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $16.64.

Trinity Capital Trading Up 2.1%

The firm has a market cap of $1.64 billion, a price-to-earnings ratio of 9.62 and a beta of 0.61. The firm’s 50 day simple moving average is $17.29 and its two-hundred day simple moving average is $16.27.

Trinity Capital (NASDAQ:TRIN) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.53 earnings per share for the quarter, beating 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 company had revenue of $51.37 million for the quarter, compared to the consensus estimate of $85.87 million. As a group, equities research analysts anticipate that Trinity Capital Inc. will post 2.1 earnings per share for the current fiscal year.

Trinity Capital Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Investors of record on Thursday, September 10th will be paid a dividend of $0.17 per share. This represents a c) dividend on an annualized basis and a yield of 11.2%. The ex-dividend date of this dividend is Thursday, September 10th. Trinity Capital’s dividend payout ratio is 107.94%.

Hedge Funds Weigh In On Trinity Capital

Several large investors have recently bought and sold shares of TRIN. Goldman Sachs Group Inc. grew its position in shares of Trinity Capital by 609.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 136,672 shares of the company’s stock valued at $2,072,000 after acquiring an additional 117,420 shares during the period. Empowered Funds LLC purchased a new position in Trinity Capital in the first quarter valued at approximately $234,000. JPMorgan Chase & Co. purchased a new position in Trinity Capital in the second quarter valued at approximately $54,000. Invesco Ltd. grew its holdings in Trinity Capital by 2.7% during the second quarter. Invesco Ltd. now owns 838,194 shares of the company’s stock valued at $11,793,000 after purchasing an additional 21,729 shares during the period. Finally, Marshall Wace LLP bought a new position in Trinity Capital during the second quarter valued at $346,000. 24.62% of the stock is currently owned by 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.