Trinity Capital (NASDAQ:TRIN) Cut to “Sell” at Wall Street Zen

Wall Street Zen downgraded shares of Trinity Capital (NASDAQ:TRIN) from a hold rating to a sell rating in a report released on Saturday.

Several other analysts have also weighed in on TRIN. Capital One Financial set a $17.00 price objective on shares of Trinity Capital in a research note on Thursday, December 11th. Clear Str raised shares of Trinity Capital to a “strong-buy” rating in a research note on Wednesday, February 4th. Citigroup restated an “outperform” rating on shares of Trinity Capital in a report on Tuesday, January 27th. Citizens Jmp set a $17.50 price target on shares of Trinity Capital in a research note on Monday, December 8th. Finally, Loop Capital set a $17.00 price objective on shares of Trinity Capital in a report on Thursday, December 11th. One investment 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 company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $16.29.

Trinity Capital Price Performance

Shares of Trinity Capital stock opened at $14.62 on Friday. The stock’s 50-day moving average is $15.56 and its 200 day moving average is $15.31. Trinity Capital has a one year low of $12.50 and a one year high of $17.20. The firm has a market cap of $1.22 billion, a price-to-earnings ratio of 7.46 and a beta of 0.55.

Trinity Capital (NASDAQ:TRIN) last issued its earnings results on Wednesday, February 25th. The company reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.01. The business had revenue of $58.89 million during the quarter, compared to the consensus estimate of $79.83 million. Trinity Capital had a return on equity of 14.97% and a net margin of 46.18%. On average, sell-side analysts expect that Trinity Capital will post 2.06 EPS for the current fiscal year.

Trinity Capital Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Thursday, June 11th will be given a dividend of $0.17 per share. This represents a c) dividend on an annualized basis and a dividend yield of 14.0%. The ex-dividend date of this dividend is Thursday, June 11th. Trinity Capital’s dividend payout ratio is presently 104.08%.

Insiders Place Their Bets

In other Trinity Capital news, CEO Kyle Steven Brown acquired 3,532 shares of the stock in a transaction on Monday, March 16th. The shares were purchased at an average price of $14.16 per share, for a total transaction of $50,013.12. Following the completion of the acquisition, the chief executive officer 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 hyperlink. Also, Chairman Steve Louis Brown acquired 27,109 shares of the company’s stock in a transaction on Thursday, March 12th. The stock was acquired at an average cost of $14.75 per share, for a total transaction of $399,857.75. Following the completion of the purchase, the chairman directly owned 940,745 shares of the company’s stock, valued at approximately $13,875,988.75. This represents a 2.97% increase in their position. The SEC filing for this purchase provides additional information. Over the last quarter, insiders purchased 37,682 shares of company stock worth $553,902. 5.31% of the stock is owned by company insiders.

Institutional Investors Weigh In On Trinity Capital

Several hedge funds and other institutional investors have recently made changes to their positions in TRIN. Goldman Sachs Group Inc. lifted its position in Trinity Capital by 609.9% in 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 in the last quarter. Empowered Funds LLC purchased a new stake in shares of Trinity Capital in the first quarter worth approximately $234,000. Allworth Financial LP purchased a new stake in shares of Trinity Capital in the second quarter worth approximately $53,000. Dynamic Technology Lab Private Ltd lifted its holdings in shares of Trinity Capital by 24.1% in the second quarter. Dynamic Technology Lab Private Ltd now owns 26,177 shares of the company’s stock valued at $368,000 after purchasing an additional 5,077 shares in the last quarter. Finally, JPMorgan Chase & Co. bought a new position in shares of Trinity Capital in the second quarter valued at approximately $54,000. 24.62% of the stock is owned by institutional investors.

Trinity Capital Company Profile

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.