Trinity Capital (NASDAQ:TRIN) Shares Gap Down – Here’s Why

Trinity Capital Inc. (NASDAQ:TRIN) gapped down prior to trading on Wednesday . The stock had previously closed at $15.03, but opened at $14.52. Trinity Capital shares last traded at $14.6690, with a volume of 385,066 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on TRIN shares. Noble Financial started coverage on shares of Trinity Capital in a report on Thursday, December 11th. They set a “buy” rating for the company. UBS Group lowered their price target on shares of Trinity Capital from $18.00 to $17.00 and set a “buy” rating on the stock in a research report on Tuesday, October 14th. Citizens Jmp began coverage on shares of Trinity Capital in a research note on Monday, December 8th. They set a “market outperform” rating and a $17.50 price objective for the company. Loop Capital set a $17.00 target price on shares of Trinity Capital in a research note on Thursday, December 11th. Finally, Citigroup assumed coverage on Trinity Capital in a report on Monday, December 8th. They set an “outperform” rating on the stock. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $16.44.

Trinity Capital Trading Down 2.2%

The firm’s fifty day simple moving average is $14.90 and its two-hundred day simple moving average is $15.12. The company has a market capitalization of $1.11 billion, a price-to-earnings ratio of 6.71 and a beta of 0.53.

Trinity Capital (NASDAQ:TRIN) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $0.52 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.52. Trinity Capital had a net margin of 50.49% and a return on equity of 15.51%. The business had revenue of $75.55 million during the quarter, compared to the consensus estimate of $74.31 million. As a group, analysts forecast that Trinity Capital Inc. will post 2.06 EPS for the current fiscal year.

Trinity Capital Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th will be given a $0.17 dividend. The ex-dividend date is Friday, March 13th. This represents a c) dividend on an annualized basis and a yield of 13.9%. Trinity Capital’s payout ratio is currently 93.15%.

Insider Transactions at Trinity Capital

In other Trinity Capital news, Chairman Steve Louis Brown purchased 4,500 shares of the stock in a transaction dated Friday, November 7th. The stock was acquired at an average cost of $14.42 per share, for a total transaction of $64,890.00. Following the acquisition, the chairman owned 818,466 shares in the company, valued at $11,802,279.72. This trade represents a 0.55% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Kyle Steven Brown bought 6,920 shares of the firm’s stock in a transaction on Friday, November 7th. The stock was bought at an average cost of $14.44 per share, for a total transaction of $99,924.80. Following the transaction, the chief executive officer directly owned 997,033 shares of the company’s stock, valued at $14,397,156.52. The trade was a 0.70% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders acquired 20,157 shares of company stock worth $292,074. 6.38% of the stock is currently owned by company insiders.

Institutional Trading of Trinity Capital

A number of institutional investors and hedge funds have recently bought and sold shares of TRIN. Triumph Capital Management acquired a new stake in shares of Trinity Capital during the third quarter worth about $102,000. Tudor Investment Corp ET AL increased its stake in Trinity Capital by 293.6% during the 3rd quarter. Tudor Investment Corp ET AL now owns 79,029 shares of the company’s stock worth $1,223,000 after buying an additional 58,952 shares during the period. Faithward Advisors LLC lifted its holdings in Trinity Capital by 2.1% during the 3rd quarter. Faithward Advisors LLC now owns 252,230 shares of the company’s stock worth $3,905,000 after buying an additional 5,132 shares in the last quarter. Advisory Services Network LLC boosted its position in Trinity Capital by 4.3% in the 3rd quarter. Advisory Services Network LLC now owns 167,106 shares of the company’s stock valued at $2,587,000 after buying an additional 6,930 shares during the period. Finally, NewEdge Advisors LLC grew its stake in shares of Trinity Capital by 39.4% in the third quarter. NewEdge Advisors LLC now owns 14,270 shares of the company’s stock worth $221,000 after acquiring an additional 4,032 shares in the last quarter. 24.62% of the stock is currently 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.