Concentric Capital Strategies LP bought a new stake in Trinity Capital Inc. (NASDAQ:TRIN - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 135,918 shares of the company's stock, valued at approximately $1,967,000. Concentric Capital Strategies LP owned about 0.23% of Trinity Capital at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the company. Franklin Resources Inc. grew its holdings in Trinity Capital by 21.8% in the 3rd quarter. Franklin Resources Inc. now owns 186,356 shares of the company's stock valued at $2,583,000 after buying an additional 33,352 shares during the period. Moody National Bank Trust Division grew its holdings in shares of Trinity Capital by 41.8% during the 4th quarter. Moody National Bank Trust Division now owns 18,332 shares of the company's stock worth $265,000 after purchasing an additional 5,401 shares during the period. Hennion & Walsh Asset Management Inc. grew its holdings in shares of Trinity Capital by 10.3% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 222,351 shares of the company's stock worth $3,217,000 after purchasing an additional 20,842 shares during the period. Trust Co. of Vermont purchased a new stake in shares of Trinity Capital during the 4th quarter worth about $101,000. Finally, Cornerstone Wealth Management LLC grew its holdings in shares of Trinity Capital by 5.7% during the 4th quarter. Cornerstone Wealth Management LLC now owns 24,100 shares of the company's stock worth $349,000 after purchasing an additional 1,302 shares during the period. Institutional investors and hedge funds own 24.62% of the company's stock.
Insider Buying and Selling
In related news, CEO Kyle Steven Brown bought 3,513 shares of the company's stock in a transaction on Friday, May 9th. The shares were purchased at an average cost of $14.22 per share, with a total value of $49,954.86. Following the completion of the transaction, the chief executive officer now directly owns 55,332 shares of the company's stock, valued at approximately $786,821.04. This represents a 6.78% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 5.31% of the stock is currently owned by company insiders.
Trinity Capital Stock Up 1.9%
Shares of Trinity Capital stock traded up $0.27 on Tuesday, hitting $14.86. 342,691 shares of the company's stock traded hands, compared to its average volume of 525,572. The stock has a market cap of $960.76 million, a P/E ratio of 8.69 and a beta of 0.57. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.07. The firm's 50-day moving average is $14.90 and its 200 day moving average is $14.82. Trinity Capital Inc. has a 52-week low of $12.50 and a 52-week high of $16.82.
Trinity Capital (NASDAQ:TRIN - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.01). Trinity Capital had a return on equity of 15.90% and a net margin of 40.73%. The firm had revenue of $65.39 million for the quarter, compared to the consensus estimate of $67.67 million. Equities analysts anticipate that Trinity Capital Inc. will post 2.06 earnings per share for the current year.
Trinity Capital Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 13.73%. The ex-dividend date of this dividend was Monday, March 31st. Trinity Capital's dividend payout ratio (DPR) is presently 93.15%.
Analyst Ratings Changes
Several equities analysts recently commented on TRIN shares. B. Riley started coverage on Trinity Capital in a research report on Tuesday. They set a "buy" rating and a $16.00 price target on the stock. Keefe, Bruyette & Woods reduced their price target on Trinity Capital from $16.00 to $15.00 and set a "market perform" rating on the stock in a research report on Thursday, May 8th. Wells Fargo & Company reduced their price target on Trinity Capital from $14.00 to $13.00 and set an "underweight" rating on the stock in a research report on Monday, April 28th. Finally, UBS Group reduced their target price on Trinity Capital from $18.00 to $16.50 and set a "buy" rating for the company in a research note on Thursday, April 17th.
Check Out Our Latest Report on TRIN
Trinity Capital Company Profile
(
Free Report)
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.
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