Trinity Capital (OTCMKTS:TRIN) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research downgraded shares of Trinity Capital (OTCMKTS:TRIN) from a buy rating to a hold rating in a research report sent to investors on Saturday morning, Zacks.com reports.

According to Zacks, “Trinity Capital Inc. is an internally managed business development company. It provides debt, including loans and equipment financing, to growth stage companies, including venture-backed companies and companies with institutional equity investors. Trinity Capital Inc. is based in PHOENIX. “

Separately, Wells Fargo & Company boosted their price objective on Trinity Capital from $15.50 to $15.75 and gave the company an overweight rating in a research note on Monday, August 9th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Trinity Capital has an average rating of Buy and an average target price of $16.50.

Shares of TRIN opened at $16.33 on Friday. The firm has a market cap of $433.64 million and a PE ratio of 12.66. The stock’s fifty day moving average price is $15.05 and its two-hundred day moving average price is $14.79. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.20 and a quick ratio of 0.20. Trinity Capital has a 1 year low of $13.46 and a 1 year high of $16.75.

Trinity Capital (OTCMKTS:TRIN) last released its quarterly earnings data on Thursday, August 5th. The company reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.06. Trinity Capital had a return on equity of 11.48% and a net margin of 109.78%. The company had revenue of $19.48 million for the quarter, compared to analyst estimates of $17.78 million. Sell-side analysts anticipate that Trinity Capital will post 1.42 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Thursday, July 15th. Shareholders of record on Wednesday, June 30th were given a dividend of $0.29 per share. The ex-dividend date of this dividend was Tuesday, June 29th. This is a positive change from Trinity Capital’s previous quarterly dividend of $0.28. This represents a $1.16 annualized dividend and a yield of 7.10%. Trinity Capital’s payout ratio is presently 89.92%.

In related news, CFO David Michael Lund bought 3,500 shares of the company’s stock in a transaction on Monday, August 23rd. The stock was acquired at an average cost of $14.99 per share, for a total transaction of $52,465.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 3.80% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in TRIN. UBS Group AG purchased a new position in shares of Trinity Capital in the first quarter worth $115,000. Citadel Advisors LLC purchased a new position in shares of Trinity Capital in the second quarter worth $160,000. Geode Capital Management LLC purchased a new position in shares of Trinity Capital in the first quarter worth $215,000. Envestnet Asset Management Inc. purchased a new position in shares of Trinity Capital in the second quarter worth $292,000. Finally, Neuberger Berman Group LLC purchased a new position in shares of Trinity Capital in the first quarter worth $313,000. Hedge funds and other institutional investors own 26.06% of the company’s stock.

About Trinity Capital

Trinity Capital Inc 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 Chandler, Arizona.

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Analyst Recommendations for Trinity Capital (OTCMKTS:TRIN)

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