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

Trinity Capital (NASDAQ:TRIN) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Saturday.

A number of other brokerages also recently commented on TRIN. Noble Financial initiated coverage on Trinity Capital in a research report on Thursday, December 11th. They set a “buy” rating for the company. Citigroup restated an “outperform” rating on shares of Trinity Capital in a report on Tuesday, January 27th. Clear Str raised Trinity Capital to a “strong-buy” rating in a report on Wednesday, February 4th. Capital One Financial set a $17.00 price target on Trinity Capital in a research report on Thursday, December 11th. Finally, Loop Capital set a $17.00 price target on Trinity Capital in a research note on Thursday, December 11th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $16.29.

Trinity Capital Price Performance

NASDAQ TRIN opened at $14.34 on Friday. Trinity Capital has a 12 month low of $12.50 and a 12 month high of $17.20. The company has a market capitalization of $1.19 billion, a P/E ratio of 7.32 and a beta of 0.56. The company’s 50 day simple moving average is $15.59 and its 200 day simple moving average is $15.32.

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 firm had revenue of $58.89 million during the quarter, compared to analysts’ expectations of $79.83 million. Trinity Capital had a net margin of 46.18% and a return on equity of 14.97%. On average, analysts anticipate that Trinity Capital will post 2.06 earnings per share for the current year.

Insider Buying and Selling at Trinity Capital

In other Trinity Capital news, Chairman Steve Louis Brown purchased 27,109 shares of the stock in a transaction dated Thursday, March 12th. The shares were acquired at an average price of $14.75 per share, for a total transaction of $399,857.75. Following the completion of the acquisition, the chairman owned 940,745 shares of the company’s stock, valued at $13,875,988.75. This represents a 2.97% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Kyle Steven Brown purchased 3,532 shares of the company’s stock in a transaction that occurred on Monday, March 16th. The shares were acquired at an average cost of $14.16 per share, for a total transaction of $50,013.12. Following the completion of the transaction, the chief executive officer directly owned 620,709 shares of the company’s stock, valued at $8,789,239.44. This trade represents a 0.57% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders bought 37,682 shares of company stock valued at $553,902. 6.38% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Trinity Capital

A number of large investors have recently made changes to their positions in TRIN. Mutual Advisors LLC purchased a new position in Trinity Capital during the third quarter valued at approximately $1,421,000. AWM Capital LLC increased its stake in Trinity Capital by 174.2% in the 3rd quarter. AWM Capital LLC now owns 177,090 shares of the company’s stock valued at $2,741,000 after buying an additional 112,507 shares during the period. Beacon Pointe Advisors LLC purchased a new stake in Trinity Capital in the 2nd quarter worth approximately $737,000. Prevail Innovative Wealth Advisors LLC acquired a new stake in shares of Trinity Capital during the 3rd quarter valued at $1,959,000. Finally, Allworth Financial LP acquired a new stake in shares of Trinity Capital during the 2nd quarter valued at $53,000. Institutional investors and hedge funds own 24.62% of the company’s stock.

About Trinity Capital

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.