Trinity Capital (NASDAQ:TRIN) Hits New 52-Week High – Here’s Why

Shares of Trinity Capital Inc. (NASDAQ:TRIN) reached a new 52-week high on Wednesday . The company traded as high as $16.15 and last traded at $16.12, with a volume of 266886 shares traded. The stock had previously closed at $16.00.

Analyst Ratings Changes

Separately, Wells Fargo & Company restated an “underweight” rating and set a $13.00 target price on shares of Trinity Capital in a research note on Monday, December 2nd.

Trinity Capital Price Performance

The stock has a market capitalization of $932.55 million, a PE ratio of 9.26 and a beta of 0.56. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.05 and a quick ratio of 0.05. The stock’s 50 day moving average is $15.01 and its two-hundred day moving average is $14.37.

Trinity Capital Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a $0.51 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $2.04 annualized dividend and a yield of 12.89%. Trinity Capital’s dividend payout ratio is currently 119.30%.

Hedge Funds Weigh In On Trinity Capital

Several hedge funds have recently added to or reduced their stakes in TRIN. Blue Trust Inc. increased its stake in Trinity Capital by 522.1% in the third quarter. Blue Trust Inc. now owns 7,714 shares of the company’s stock valued at $109,000 after purchasing an additional 6,474 shares during the last quarter. Private Advisor Group LLC increased its stake in Trinity Capital by 26.2% in the third quarter. Private Advisor Group LLC now owns 18,409 shares of the company’s stock valued at $250,000 after purchasing an additional 3,819 shares during the last quarter. International Assets Investment Management LLC increased its stake in Trinity Capital by 1,257.0% in the third quarter. International Assets Investment Management LLC now owns 33,925 shares of the company’s stock valued at $460,000 after purchasing an additional 31,425 shares during the last quarter. Hennion & Walsh Asset Management Inc. increased its stake in Trinity Capital by 37.7% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 201,509 shares of the company’s stock valued at $2,734,000 after purchasing an additional 55,131 shares during the last quarter. Finally, Grimes & Company Inc. increased its stake in Trinity Capital by 145.5% in the third quarter. Grimes & Company Inc. now owns 49,221 shares of the company’s stock valued at $668,000 after purchasing an additional 29,173 shares during the last quarter. 24.62% of the stock is currently owned by hedge funds and other institutional investors.

Trinity Capital Company Profile

Trinity Capital Inc is a business development company. It 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 Phoenix, Arizona with additional offices in the United States.