|Over a month ago|
B. Riley starts Trinity Capital at Buy, sees total return of 20% » 08:2502/2302/23/21
B. Riley Securities…
B. Riley Securities analyst Sarkis Sherbetchyan initiated coverage of Trinity Capital with a Buy rating and $16.50 price target. The analyst sees potential for total return of 20%, including the $1.08 per share annualized dividend. Demand for venture debt solutions should grow alongside the level of venture investment activity, Sherbetchyan tells investors in a research note. The analyst believes Trinity has an opportunity to finance viable entities while generating attractive risk-adjusted returns.
Trinity Capital initiated with a Buy at UBS » 08:2002/2302/23/21
UBS analyst Brock…
UBS analyst Brock Vandervliet initiated coverage of Trinity Capital with a Buy rating and $17 price target. The stock's valuation sets up the company for "material upside", the analyst tells investors in a research note. Trinity Capital has been operating for 12 years and has been able to drive unlevered returns in the high teens while delivering loss rates that "rival that of high quality commercial banks" over the same time period, Vandervliet adds.
Trinity Capital initiated with a Buy at Janney Montgomery Scott » 07:5402/2302/23/21
Janney Montgomery Scott…
Janney Montgomery Scott analyst Mitchel Penn initiated coverage of Trinity Capital with a Buy rating and $15 price target. The analyst believes Trinity can generate a 12.0% return on equity with a cost of capital of 10.5%, resulting in a fair value estimate of $15 per share.
Trinity Capital initiated with a Neutral at Ladenburg » 07:1502/2302/23/21
Ladenburg analyst Christopher Nolan initiated coverage of Trinity Capital with a Neutral rating and no price target. The company is one of four publicly traded business development companies, or BDCs, focused exclusively on venture debt lending, which Nolan calls "a specialized and growing lending niche with attractive yields and barriers to entry to non-specialist competitors." While he thinks Trinity is strategically well positioned to grow given strong fund inflows and equity valuation appreciation in the venture capital sector, Nolan notes that the stock's price/NAV ratio is near the median of its three venture debt BDC peers while the company's dividend yield is currently lower than theirs.
Trinity Capital initiated with an Overweight at Wells Fargo » 06:5602/2302/23/21
Wells Fargo analyst…
Wells Fargo analyst Finian O'Shea initiated coverage of Trinity Capital (TRIN) with an Overweight rating and $16 price target. Trinity has delivered contained credit loss rates over time and he expects that the shares will continue to trade at a premium to net asset value and "enjoy the benefit of accretive equity growth" should that continue, O'Shea tells investors. In addition, Trinity holds warrants in the parent of Lucid Motors, which has announced its intention to merge with the Churchill Capital Corp IV (CCIV) SPAC and "may have considerable option-like value" for Trinity, O'Shea said.
Trinity Capital initiated with a Buy at B. Riley Securities » 04:4502/2302/23/21
B. Riley Securities…
B. Riley Securities initiated coverage of Trinity Capital with a Buy rating and $16.50 price target.
Trinity Capital initiated with an Outperform at Keefe Bruyette » 04:4502/2302/23/21
Keefe Bruyette analyst…
Keefe Bruyette analyst Ryan Lynch initiated coverage of Trinity Capital with an Outperform rating and $17.50 price target. The analyst says the venture lender has a "strong" track record.
Opening Day: Qualtrics jumps 40% in trading debut » 09:3601/3101/31/21
HMPT, NLSP, TRIN, XM, SAP, OCDX, VINP, AGFY, SHLS, ZIM, TIRX, EZGO, SEGR, CLRM, ITHX, IGNY, HCAQ, CAHC, FSSI, DNZ, BIOT, DHHC, SSAA, RBLX, BMBL, COIN, HOMS, PHAR, LDI
Qualtrics, a spinoff of…
Trinity Capital opens for trade at $14, IPO priced at $14 » 10:2101/2901/29/21
Trinity Capital, an…
Trinity Capital, an internally managed business development company, priced its initial public offering of 7,375,274 shares of its common stock at $14.00 per share. Trinity's shares trade on the Nasdaq under the symbol "TRIN." Keefe, Bruyette & Woods, Wells Fargo and UBS Investment Bank are acting as joint book-running managers for the offering. Janney Montgomery Scott, B. Riley Securities, Ladenburg Thalmann and Compass Point are acting as co-managers for the offering.
Trinity Capital 7.375M share IPO priced at $14.00 » 23:0301/2801/28/21
The deal size was cut to…
The deal size was cut to 7.375M from 7.55M shares and priced inside the $13.50-$15.50 target range. Keefe Bruyette, Wells Fargo and UBS are acting as joint book running managers for the offering.