Mutual Advisors LLC Purchases New Stake in Trinity Capital Inc. $TRIN

Mutual Advisors LLC acquired a new position in shares of Trinity Capital Inc. (NASDAQ:TRIN) in the 3rd quarter, HoldingsChannel reports. The firm acquired 94,861 shares of the company’s stock, valued at approximately $1,421,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. First Horizon Advisors Inc. acquired a new position in shares of Trinity Capital in the 2nd quarter worth approximately $32,000. Allworth Financial LP purchased a new stake in Trinity Capital during the 2nd quarter worth about $53,000. JPMorgan Chase & Co. purchased a new stake in Trinity Capital during the second quarter worth approximately $54,000. Blue Trust Inc. lifted its position in shares of Trinity Capital by 40.3% during the 2nd quarter. Blue Trust Inc. now owns 5,929 shares of the company’s stock worth $83,000 after buying an additional 1,704 shares during the last quarter. Finally, Boothbay Fund Management LLC acquired a new position in Trinity Capital in the second quarter valued at $142,000. Hedge funds and other institutional investors own 24.62% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. UBS Group decreased their price objective on Trinity Capital from $18.00 to $17.00 and set a “buy” rating for the company in a report on Tuesday, October 14th. Capital One Financial set a $17.00 price objective on Trinity Capital in a report on Thursday, December 11th. Noble Financial assumed coverage on shares of Trinity Capital in a research note on Thursday, December 11th. They set a “buy” rating on the stock. Citizens Jmp started coverage on Trinity Capital in a research note on Monday, December 8th. They issued a “market outperform” rating and a $17.50 price objective for the company. Finally, JMP Securities set a $17.50 price target on shares of Trinity Capital in a report on Monday, December 8th. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $16.44.

Insider Activity at Trinity Capital

In related news, Chairman Steve Louis Brown acquired 2,137 shares of Trinity Capital stock in a transaction that occurred on Tuesday, November 18th. The stock was acquired at an average price of $14.52 per share, with a total value of $31,029.24. Following the completion of the acquisition, the chairman directly owned 820,603 shares of the company’s stock, valued at $11,915,155.56. This trade represents a 0.26% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Kyle Steven Brown bought 6,920 shares of the business’s stock in a transaction on Friday, November 7th. The stock was purchased at an average price of $14.44 per share, with a total value of $99,924.80. Following the completion of the transaction, the chief executive officer directly owned 997,033 shares of the company’s stock, valued at $14,397,156.52. This trade represents a 0.70% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have acquired a total of 20,157 shares of company stock worth $292,074 in the last three months. 6.38% of the stock is owned by company insiders.

Trinity Capital Price Performance

NASDAQ:TRIN opened at $16.43 on Wednesday. The firm has a 50-day moving average of $15.54 and a two-hundred day moving average of $15.42. Trinity Capital Inc. has a 1-year low of $12.50 and a 1-year high of $17.20. The stock has a market cap of $1.24 billion, a P/E ratio of 7.50 and a beta of 0.53.

Trinity Capital (NASDAQ:TRIN) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $0.52 EPS for the quarter, hitting analysts’ consensus estimates of $0.52. Trinity Capital had a return on equity of 15.51% and a net margin of 50.49%.The business had revenue of $75.55 million during the quarter, compared to the consensus estimate of $74.31 million. As a group, equities analysts expect that Trinity Capital Inc. will post 2.06 earnings per share for the current year.

Trinity Capital Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 13th will be issued a $0.17 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 12.4%. The ex-dividend date of this dividend is Friday, March 13th. Trinity Capital’s dividend payout ratio (DPR) is 93.15%.

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.