Trinity Capital (NASDAQ:TRIN) Shares Break Above 200-Day Moving Average – Here’s Why

Shares of Trinity Capital Inc. (NASDAQ:TRIN) crossed above its two hundred day moving average during trading on Tuesday. The stock has a two hundred day moving average of $16.67 and traded as high as $16.83. Trinity Capital shares last traded at $16.7850, with a volume of 728,665 shares.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods increased their price objective 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, August 6th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $16.60.

Trinity Capital Trading Up 0.9%

The firm’s fifty day moving average price is $17.55 and its 200 day moving average price is $16.68. The firm has a market capitalization of $1.63 billion, a PE ratio of 9.12 and a beta of 0.63.

Trinity Capital (NASDAQ:TRIN) last issued its earnings results on Wednesday, August 5th. The company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.01). The business had revenue of $87.17 million for the quarter, compared to analysts’ expectations of $91.44 million. Trinity Capital had a return on equity of 14.94% and a net margin of 43.45%. On average, analysts predict that Trinity Capital Inc. will post 2.10 earnings per share for the current year.

Trinity Capital Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Friday, December 11th will be issued a $0.17 dividend. The ex-dividend date of this dividend is Friday, December 11th. This represents a $2.04 dividend on an annualized basis and a yield of 11.8%. Trinity Capital’s payout ratio is presently 116.57%.

Insider Buying and Selling

In other news, CEO Kyle Brown acquired 2,296 shares of the company’s stock in a transaction dated Friday, August 7th. The shares were acquired at an average price of $18.04 per share, with a total value of $41,419.84. Following the purchase, the chief executive officer directly owned 612,262 shares of the company’s stock, valued at $11,045,206.48. This trade represents a 0.38% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 4.25% of the company’s stock.

Hedge Funds Weigh In On Trinity Capital

Several large investors have recently made changes to their positions in the company. Van ECK Associates Corp boosted its holdings in Trinity Capital by 39.3% during the second quarter. Van ECK Associates Corp now owns 2,153,437 shares of the company’s stock worth $38,525,000 after buying an additional 607,988 shares in the last quarter. Melia Wealth LLC purchased a new position in Trinity Capital in the second quarter valued at $24,221,000. Sound Income Strategies LLC increased its holdings in Trinity Capital by 9.4% in the second quarter. Sound Income Strategies LLC now owns 1,269,744 shares of the company’s stock valued at $22,716,000 after buying an additional 109,291 shares in the last quarter. Hennion & Walsh Asset Management Inc. raised its position in shares of Trinity Capital by 2.2% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 346,192 shares of the company’s stock worth $6,193,000 after acquiring an additional 7,314 shares during the period. Finally, BlackRock Inc. acquired a new position in shares of Trinity Capital in the second quarter worth about $5,134,000. 24.62% of the stock is currently owned by institutional investors and hedge funds.

Trinity Capital Company Profile

Trinity Capital Inc (NASDAQ:TRIN) is a business development company that provides debt financing to venture capital- and private equity-backed companies. The company focuses primarily on growth-stage businesses that may require capital to support expansion, product development, acquisitions, working capital and other corporate needs.

Through its investment platform, Trinity Capital offers a range of financing solutions, including secured loans, equipment financing, growth capital and other customized debt structures.