Citizens Jmp Initiates Coverage on Trinity Capital (NASDAQ:TRIN)

Investment analysts at Citizens Jmp started coverage on shares of Trinity Capital (NASDAQ:TRIN) in a report released on Monday, Marketbeat.com reports. The brokerage set a “market outperform” rating and a $17.50 price target on the stock. Citizens Jmp’s price target would indicate a potential upside of 15.36% from the company’s previous close.

Several other equities analysts have also commented on the company. JMP Securities set a $17.50 target price on Trinity Capital in a research note on Monday. Wells Fargo & Company restated an “underweight” rating and issued a $13.50 price target (up previously from $13.00) on shares of Trinity Capital in a report on Tuesday, August 12th. UBS Group cut their price objective on shares of Trinity Capital from $18.00 to $17.00 and set a “buy” rating on the stock in a report on Tuesday, October 14th. Finally, Citigroup assumed coverage on shares of Trinity Capital in a research report on Monday. They issued an “outperform” rating on the stock. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Trinity Capital currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.25.

Trinity Capital Stock Performance

Shares of TRIN opened at $15.17 on Monday. Trinity Capital has a 1 year low of $12.50 and a 1 year high of $16.82. The company’s 50 day simple moving average is $14.83 and its 200 day simple moving average is $15.06. The company has a market capitalization of $1.15 billion, a price-to-earnings ratio of 6.93 and a beta of 0.53.

Trinity Capital (NASDAQ:TRIN) last released its earnings results on Wednesday, November 5th. The company reported $0.52 EPS for the quarter, hitting the consensus estimate of $0.52. Trinity Capital had a net margin of 50.49% and a return on equity of 15.51%. The firm had revenue of $75.55 million during the quarter, compared to analysts’ expectations of $74.31 million. Equities analysts expect that Trinity Capital will post 2.06 EPS for the current fiscal year.

Insider Buying and Selling

In other Trinity Capital news, Chairman Steve Louis Brown acquired 2,137 shares of the firm’s stock in a transaction on Tuesday, November 18th. The stock was bought at an average cost of $14.52 per share, for a total transaction of $31,029.24. Following the completion of the purchase, the chairman directly owned 820,603 shares in the company, valued at $11,915,155.56. This represents a 0.26% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Ronald E. Estes acquired 2,000 shares of the company’s stock in a transaction dated Friday, November 7th. The stock was acquired at an average cost of $14.44 per share, with a total value of $28,880.00. Following the transaction, the director directly owned 38,779 shares of the company’s stock, valued at approximately $559,968.76. This represents a 5.44% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders acquired 21,657 shares of company stock valued at $317,639. 6.38% of the stock is currently owned by corporate insiders.

Institutional Trading of Trinity Capital

Institutional investors have recently added to or reduced their stakes in the business. Kovitz Investment Group Partners LLC acquired a new position in shares of Trinity Capital during the first quarter worth about $293,000. LPL Financial LLC grew its stake in shares of Trinity Capital by 689.7% in the first quarter. LPL Financial LLC now owns 372,983 shares of the company’s stock valued at $5,654,000 after buying an additional 325,753 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in shares of Trinity Capital during the 2nd quarter valued at about $2,136,000. Trexquant Investment LP raised its holdings in shares of Trinity Capital by 10.7% during the 1st quarter. Trexquant Investment LP now owns 249,751 shares of the company’s stock valued at $3,786,000 after buying an additional 24,041 shares during the period. Finally, Beacon Pointe Advisors LLC acquired a new position in Trinity Capital during the 2nd quarter worth approximately $737,000. 24.62% of the stock is owned by hedge funds and other institutional investors.

About Trinity Capital

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.