Trinity Capital (NASDAQ:TRIN) Chairman Steve Louis Brown Acquires 27,109 Shares

Trinity Capital Inc. (NASDAQ:TRIN) Chairman Steve Louis Brown bought 27,109 shares of Trinity Capital stock in a transaction that occurred on Thursday, March 12th. The stock was purchased at an average price of $14.75 per share, for a total transaction of $399,857.75. Following the acquisition, the chairman directly owned 940,745 shares of the company’s stock, valued at $13,875,988.75. The trade was a 2.97% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Steve Louis Brown also recently made the following trade(s):

• On Monday, March 9th, Steve Louis Brown bought 518 shares of Trinity Capital stock. The shares were purchased at an average price of $14.82 per share, with a total value of $7,676.76.
• On Monday, March 9th, Steve Louis Brown purchased 1,585 shares of Trinity Capital stock. The shares were acquired at an average cost of $14.82 per share, for a total transaction of $23,489.70.

Trinity Capital Stock Down 1.7%

Shares of TRIN stock traded down $0.24 during mid-day trading on Monday, reaching $14.18. The company’s stock had a trading volume of 2,020,052 shares, compared to its average volume of 1,378,883. The firm has a market capitalization of $1.18 billion, a PE ratio of 7.23 and a beta of 0.56. The company’s 50 day simple moving average is $15.67 and its 200-day simple moving average is $15.37. Trinity Capital Inc. has a 12-month low of $12.50 and a 12-month high of $17.20.

Trinity Capital (NASDAQ:TRIN) last issued its quarterly earnings data on Wednesday, February 25th. The company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.01. The company had revenue of $58.89 million for the quarter, compared to analysts’ expectations of $79.83 million. Trinity Capital had a return on equity of 14.97% and a net margin of 46.18%. As a group, research analysts anticipate that Trinity Capital Inc. will post 2.06 EPS for the current fiscal year.

Trinity Capital Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 13th will be paid a $0.17 dividend. The ex-dividend date is Friday, March 13th. This represents a c) annualized dividend and a dividend yield of 14.4%. Trinity Capital’s payout ratio is 104.08%.

Institutional Investors Weigh In On Trinity Capital

Hedge funds and other institutional investors have recently modified their holdings of the stock. Marshall Wace LLP lifted its holdings in Trinity Capital by 4,587.0% in the third quarter. Marshall Wace LLP now owns 1,151,272 shares of the company’s stock worth $17,822,000 after purchasing an additional 1,126,709 shares during the period. Sound Income Strategies LLC raised its position in shares of Trinity Capital by 58,959.3% during the 4th quarter. Sound Income Strategies LLC now owns 944,948 shares of the company’s stock worth $15,318,000 after buying an additional 943,348 shares in the last quarter. Eagle Point Credit Management LLC acquired a new stake in shares of Trinity Capital in the 4th quarter worth approximately $10,657,000. Two Sigma Investments LP boosted its holdings in shares of Trinity Capital by 83.5% in the third quarter. Two Sigma Investments LP now owns 986,184 shares of the company’s stock valued at $15,266,000 after acquiring an additional 448,626 shares in the last quarter. Finally, Closed End Fund Advisors Inc. bought a new position in shares of Trinity Capital in the fourth quarter valued at approximately $5,493,000. 24.62% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have commented on TRIN shares. Clear Str upgraded shares of Trinity Capital to a “strong-buy” rating in a research note on Wednesday, February 4th. Citizens Jmp set a $17.50 price target on Trinity Capital in a report on Monday, December 8th. Citigroup reiterated an “outperform” rating on shares of Trinity Capital in a research note on Tuesday, January 27th. Noble Financial started coverage on shares of Trinity Capital in a research report on Thursday, December 11th. They set a “buy” rating for the company. Finally, Capital One Financial set a $17.00 target price on Trinity Capital in a report on Thursday, December 11th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Trinity Capital currently has an average rating of “Moderate Buy” and a consensus target price of $16.29.

About Trinity Capital

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.