Trinity Capital (NASDAQ:TRIN) Upgraded at Wall Street Zen

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

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

Trinity Capital Trading Down 1.7%

TRIN stock opened at $14.29 on Friday. The firm has a 50 day moving average of $15.43 and a 200-day moving average of $15.27. The company has a market cap of $1.19 billion, a price-to-earnings ratio of 7.29 and a beta of 0.55. Trinity Capital has a 12-month low of $12.50 and a 12-month high of $17.20.

Trinity Capital (NASDAQ:TRIN) last released its quarterly 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. Trinity Capital had a return on equity of 14.97% and a net margin of 46.18%.The business had revenue of $58.89 million for the quarter, compared to analysts’ expectations of $79.83 million. Sell-side analysts forecast that Trinity Capital will post 2.06 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Kyle Steven Brown acquired 3,532 shares of Trinity Capital stock in a transaction dated 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. The trade was a 0.57% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Chairman Steve Louis Brown acquired 27,109 shares of the firm’s stock in a transaction that occurred on Thursday, March 12th. The shares were bought at an average cost of $14.75 per share, for a total transaction of $399,857.75. Following the purchase, the chairman owned 940,745 shares of the company’s stock, valued at approximately $13,875,988.75. The trade was a 2.97% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders have acquired 37,682 shares of company stock worth $553,902. 5.31% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Rockefeller Capital Management L.P. lifted its holdings in Trinity Capital by 5.3% in the 4th quarter. Rockefeller Capital Management L.P. now owns 964,548 shares of the company’s stock valued at $14,131,000 after purchasing an additional 48,764 shares in the last quarter. Virtu Financial LLC purchased a new stake in shares of Trinity Capital during the fourth quarter worth about $507,000. Invesco Ltd. raised its position in shares of Trinity Capital by 22.4% in the fourth quarter. Invesco Ltd. now owns 1,026,680 shares of the company’s stock valued at $15,041,000 after buying an additional 187,744 shares during the last quarter. First Commonwealth Financial Corp PA lifted its stake in shares of Trinity Capital by 3.4% during the fourth quarter. First Commonwealth Financial Corp PA now owns 24,540 shares of the company’s stock valued at $360,000 after buying an additional 799 shares during the period. Finally, Mercer Global Advisors Inc. ADV purchased a new position in shares of Trinity Capital during the fourth quarter valued at approximately $2,154,000. Institutional investors and hedge funds own 24.62% of the company’s stock.

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.