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

Key Points

• Beacon Pointe Advisors initiated a position in Trinity Capital, purchasing 71,948 shares valued at approximately $1.29 million. Institutional investors and hedge funds collectively own 24.62% of TRIN.
• Analysts maintain a “Moderate Buy” consensus rating, with an average price target of $16.67. Recent target increases included Keefe, Bruyette & Woods at $16.50 and Wells Fargo at $15.00.
• Trinity Capital reported quarterly EPS of $0.51, slightly below the $0.52 estimate, and revenue of $87.17 million versus expectations of $91.44 million. The company also declared a monthly dividend of $0.17 per share, representing an annualized yield of about 11%.

Beacon Pointe Advisors LLC bought a new stake in Trinity Capital Inc. (NASDAQ:TRIN - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 71,948 shares of the company's stock, valued at approximately $1,287,000. Beacon Pointe Advisors LLC owned approximately 0.08% of Trinity Capital as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. UBS Group AG raised its stake in Trinity Capital by 28.8% during the fourth quarter. UBS Group AG now owns 1,038,928 shares of the company's stock worth $15,220,000 after purchasing an additional 232,031 shares during the period. Sound Income Strategies LLC grew its stake in shares of Trinity Capital by 9.4% in the 2nd quarter. Sound Income Strategies LLC now owns 1,269,744 shares of the company's stock valued at $22,716,000 after buying an additional 109,291 shares during the period. Closed End Fund Advisors Inc. acquired a new stake in shares of Trinity Capital during the 4th quarter worth approximately $5,493,000. Independent Financial Group LLC acquired a new stake in shares of Trinity Capital during the 1st quarter worth approximately $933,000. Finally, GSA Capital Partners LLP purchased a new stake in shares of Trinity Capital during the 2nd quarter valued at approximately $1,121,000. 24.62% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TRIN has been the subject of several analyst reports. Keefe, Bruyette & Woods increased their price objective on Trinity Capital from $16.00 to $16.50 and gave the stock a "market perform" rating in a research report on Thursday, August 6th. Wells Fargo & Company raised their price objective 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 given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $16.67.

Insider Activity at Trinity Capital

In other news, CEO Kyle Steven Brown acquired 2,296 shares of the firm's stock in a transaction dated Friday, August 7th. The stock was acquired at an average cost of $18.04 per share, with a total value of $41,419.84. Following the completion of the acquisition, the chief executive officer owned 612,262 shares of the company's stock, valued at $11,045,206.48. The trade was a 0.38% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 4.25% of the company's stock.

Trinity Capital Price Performance

TRIN opened at $18.55 on Monday. The business has a fifty day moving average price of $17.79 and a 200 day moving average price of $16.51. Trinity Capital Inc. has a 12 month low of $14.13 and a 12 month high of $18.90. The stock has a market capitalization of $1.76 billion, a price-to-earnings ratio of 9.81 and a beta of 0.61.

Trinity Capital (NASDAQ:TRIN - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.51 EPS for the quarter, missing analysts' consensus estimates of $0.52 by ($0.01). Trinity Capital had a return on equity of 14.94% and a net margin of 43.45%.The company had revenue of $87.17 million for the quarter, compared to analyst estimates of $91.44 million. On average, research analysts anticipate that Trinity Capital Inc. will post 2.1 earnings per share for the current year.

Trinity Capital Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Thursday, September 10th will be issued a dividend of $0.17 per share. The ex-dividend date of this dividend is Thursday, September 10th. This represents a c) annualized dividend and a dividend yield of 11.0%. Trinity Capital's dividend payout ratio (DPR) is presently 116.57%.

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.

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