Sanctuary Advisors LLC Makes New Investment in Trinity Capital Inc. $TRIN

Sanctuary Advisors LLC acquired a new stake in shares of Trinity Capital Inc. (NASDAQ:TRIN) in the second quarter, HoldingsChannel.com reports. The firm acquired 93,029 shares of the company’s stock, valued at approximately $1,664,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Goldman Sachs Group Inc. grew its holdings in Trinity Capital by 609.9% during the first quarter. Goldman Sachs Group Inc. now owns 136,672 shares of the company’s stock valued at $2,072,000 after purchasing an additional 117,420 shares during the period. Empowered Funds LLC bought a new position in shares of Trinity Capital during the 1st quarter valued at approximately $234,000. JPMorgan Chase & Co. purchased a new stake in Trinity Capital in the 2nd quarter worth approximately $54,000. Invesco Ltd. raised its stake in Trinity Capital by 2.7% during the 2nd quarter. Invesco Ltd. now owns 838,194 shares of the company’s stock worth $11,793,000 after acquiring an additional 21,729 shares during the period. Finally, Marshall Wace LLP purchased a new position in Trinity Capital during the second quarter valued at approximately $346,000. 24.62% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Kyle Steven Brown acquired 2,296 shares of Trinity Capital stock in a transaction on Friday, August 7th. The shares were acquired at an average price of $18.04 per share, with a total value of $41,419.84. Following the purchase, the chief executive officer directly owned 612,262 shares in the company, valued at $11,045,206.48. The trade was a 0.38% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 4.25% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have recently commented on TRIN shares. Keefe, Bruyette & Woods raised their price objective on shares of Trinity Capital from $16.00 to $16.50 and gave the company a “market perform” rating in a research report on Thursday, August 6th. Wells Fargo & Company increased their target price on Trinity Capital from $13.50 to $15.00 and gave the stock an “underweight” rating in a research report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $16.67.

Trinity Capital Stock Performance

Shares of NASDAQ TRIN opened at $18.70 on Thursday. The company has a market cap of $1.77 billion, a P/E ratio of 9.89 and a beta of 0.61. Trinity Capital Inc. has a 52-week low of $14.13 and a 52-week high of $18.81. The firm’s fifty day moving average is $17.72 and its two-hundred day moving average is $16.47.

Trinity Capital (NASDAQ:TRIN) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.01). The company had revenue of $87.17 million for the quarter, compared to the consensus estimate of $91.44 million. Trinity Capital had a net margin of 43.45% and a return on equity of 14.94%. As a group, analysts forecast that Trinity Capital Inc. will post 2.1 EPS for the current fiscal year.

Trinity Capital Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Investors of record on Thursday, September 10th will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Thursday, September 10th. This represents a c) dividend on an annualized basis and a yield of 10.9%. Trinity Capital’s dividend payout ratio is presently 116.57%.

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.