Trinity Capital (NASDAQ:TRIN) Shares Down 3.6%

Trinity Capital Inc. (NASDAQ:TRIN)’s stock price was down 3.6% during trading on Monday . The company traded as low as $13.38 and last traded at $13.43. Approximately 158,011 shares changed hands during mid-day trading, a decline of 67% from the average daily volume of 478,948 shares. The stock had previously closed at $13.93.

Trinity Capital Price Performance

The firm’s 50 day simple moving average is $14.13 and its two-hundred day simple moving average is $14.46. The firm has a market capitalization of $661.04 million, a P/E ratio of 8.30 and a beta of 0.55. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.11 and a quick ratio of 0.11.

Trinity Capital (NASDAQ:TRIN) last issued its earnings results on Wednesday, August 7th. The company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.02). The company had revenue of $54.64 million for the quarter, compared to analysts’ expectations of $53.17 million. Trinity Capital had a net margin of 40.06% and a return on equity of 16.14%. During the same quarter in the prior year, the company earned $0.58 earnings per share. As a group, analysts predict that Trinity Capital Inc. will post 2.08 earnings per share for the current year.

Trinity Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 15.27%. The ex-dividend date is Monday, September 30th. Trinity Capital’s payout ratio is 126.71%.

Insider Transactions at Trinity Capital

In other Trinity Capital news, CEO Kyle Steven Brown purchased 3,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The stock was bought at an average price of $14.15 per share, with a total value of $49,525.00. Following the completion of the purchase, the chief executive officer now directly owns 975,298 shares of the company’s stock, valued at approximately $13,800,466.70. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Over the last ninety days, insiders bought 5,597 shares of company stock worth $78,913. Company insiders own 6.38% of the company’s stock.

Hedge Funds Weigh In On Trinity Capital

A number of institutional investors have recently bought and sold shares of TRIN. Quadrature Capital Ltd raised its position in shares of Trinity Capital by 10.9% in the 4th quarter. Quadrature Capital Ltd now owns 98,918 shares of the company’s stock worth $1,437,000 after acquiring an additional 9,759 shares in the last quarter. Greenwich Investment Management Inc. lifted its position in Trinity Capital by 0.6% during the fourth quarter. Greenwich Investment Management Inc. now owns 1,204,660 shares of the company’s stock valued at $17,504,000 after buying an additional 6,606 shares during the period. Chicago Partners Investment Group LLC boosted its holdings in shares of Trinity Capital by 9.1% during the 4th quarter. Chicago Partners Investment Group LLC now owns 17,464 shares of the company’s stock valued at $241,000 after buying an additional 1,451 shares in the last quarter. Tucker Asset Management LLC purchased a new stake in shares of Trinity Capital in the 4th quarter worth about $45,000. Finally, Confluence Investment Management LLC purchased a new position in Trinity Capital during the 1st quarter valued at about $835,000. 24.62% of the stock is owned by 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.