Trinity Capital (NASDAQ:TRIN) Hits New 1-Year High – Should You Buy?

Trinity Capital Inc. (NASDAQ:TRIN)’s share price hit a new 52-week high during trading on Monday . The company traded as high as $18.27 and last traded at $18.2440, with a volume of 772036 shares trading hands. The stock had previously closed at $18.05.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on TRIN. Wells Fargo & Company increased their price target on Trinity Capital from $13.50 to $15.00 and gave the stock an “underweight” rating in a report on Thursday, May 7th. Keefe, Bruyette & Woods lifted their price target on shares of Trinity Capital from $16.00 to $16.50 and gave the company a “market perform” rating in a research report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $16.67.

Trinity Capital Trading Up 1.4%

The stock has a market capitalization of $1.73 billion, a P/E ratio of 9.68 and a beta of 0.61. The business has a fifty day simple moving average of $17.37 and a 200 day simple moving average of $16.31.

Trinity Capital Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Investors of record on Thursday, September 10th will be given a $0.17 dividend. 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 presently 116.57%.

Hedge Funds Weigh In On Trinity Capital

A number of hedge funds have recently bought and sold shares of TRIN. Marshall Wace LLP lifted its position in shares of Trinity Capital by 4,587.0% during the third quarter. Marshall Wace LLP now owns 1,151,272 shares of the company’s stock valued at $17,822,000 after purchasing an additional 1,126,709 shares in the last quarter. Eagle Point Credit Management LLC bought a new stake in Trinity Capital in the 4th quarter worth about $10,657,000. Two Sigma Investments LP increased its stake in Trinity Capital by 83.5% in the 3rd quarter. Two Sigma Investments LP now owns 986,184 shares of the company’s stock valued at $15,266,000 after buying an additional 448,626 shares during the last quarter. Closed End Fund Advisors Inc. purchased a new stake in Trinity Capital in the 4th quarter valued at about $5,493,000. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of Trinity Capital by 203.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 545,047 shares of the company’s stock worth $7,986,000 after buying an additional 365,193 shares in the last quarter. 24.62% of the stock is owned by hedge funds and other 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.