Trinity Capital (NASDAQ:TRIN) Reaches New 1-Year High After Strong Earnings

Trinity Capital Inc. (NASDAQ:TRIN)’s share price hit a new 52-week high on Wednesday after the company announced better than expected quarterly earnings. The company traded as high as $16.82 and last traded at $16.64, with a volume of 372915 shares trading hands. The stock had previously closed at $15.74.

The company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.03. The company had revenue of $70.83 million during the quarter, compared to the consensus estimate of $64.13 million. Trinity Capital had a net margin of 40.73% and a return on equity of 15.90%.

Trinity Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a $0.51 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $2.04 dividend on an annualized basis and a yield of 12.58%. Trinity Capital’s payout ratio is 119.30%.

Analysts Set New Price Targets

A number of analysts recently weighed in on TRIN shares. Wells Fargo & Company restated an “underweight” rating and issued a $13.00 price objective on shares of Trinity Capital in a report on Monday, December 2nd. Keefe, Bruyette & Woods increased their price objective on Trinity Capital from $15.00 to $16.00 and gave the company a “market perform” rating in a report on Thursday.

Institutional Trading of Trinity Capital

A number of large investors have recently bought and sold shares of the business. Van ECK Associates Corp grew its holdings in Trinity Capital by 6.8% during the 4th quarter. Van ECK Associates Corp now owns 1,389,788 shares of the company’s stock worth $20,110,000 after acquiring an additional 88,698 shares during the period. Melia Wealth LLC grew its holdings in Trinity Capital by 3.0% during the 4th quarter. Melia Wealth LLC now owns 1,096,969 shares of the company’s stock worth $15,873,000 after acquiring an additional 32,107 shares during the period. Rockefeller Capital Management L.P. grew its holdings in Trinity Capital by 9.3% during the 4th quarter. Rockefeller Capital Management L.P. now owns 843,849 shares of the company’s stock worth $12,211,000 after acquiring an additional 71,633 shares during the period. Emerald Advisers LLC grew its holdings in Trinity Capital by 11.3% during the 3rd quarter. Emerald Advisers LLC now owns 804,942 shares of the company’s stock worth $10,923,000 after acquiring an additional 82,001 shares during the period. Finally, Ares Management LLC grew its holdings in Trinity Capital by 25.0% during the 4th quarter. Ares Management LLC now owns 549,839 shares of the company’s stock worth $7,956,000 after acquiring an additional 109,839 shares during the period. 24.62% of the stock is currently owned by institutional investors and hedge funds.

Trinity Capital Stock Performance

The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.05 and a current ratio of 0.05. The stock has a fifty day simple moving average of $15.15 and a two-hundred day simple moving average of $14.42. The stock has a market capitalization of $955.46 million, a price-to-earnings ratio of 9.49 and a beta of 0.56.

Trinity Capital Company Profile

Trinity Capital Inc is a business development company. It is a venture capital firm specializing in venture debt to growth stage companies looking for loans and/or equipment financing. Trinity Capital Inc was founded in 2019 is based in Phoenix, Arizona with additional offices in the United States.