Canton Hathaway LLC increased its position in Trinity Capital Inc. (NASDAQ:TRIN - Free Report) by 247.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 95,256 shares of the company's stock after purchasing an additional 67,830 shares during the period. Canton Hathaway LLC owned approximately 0.15% of Trinity Capital worth $1,444,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of TRIN. Farther Finance Advisors LLC purchased a new stake in Trinity Capital during the 1st quarter valued at $38,000. Aquatic Capital Management LLC purchased a new stake in shares of Trinity Capital during the fourth quarter valued at $124,000. Axxcess Wealth Management LLC purchased a new stake in shares of Trinity Capital during the fourth quarter valued at $158,000. Colonial River Investments LLC bought a new stake in Trinity Capital in the 4th quarter worth about $158,000. Finally, Union Bancaire Privee UBP SA purchased a new position in Trinity Capital in the 4th quarter worth about $162,000. Institutional investors own 24.62% of the company's stock.
Trinity Capital Price Performance
Shares of TRIN traded up $0.20 on Tuesday, reaching $14.38. The company's stock had a trading volume of 801,339 shares, compared to its average volume of 562,147. The stock's 50 day simple moving average is $14.47 and its two-hundred day simple moving average is $14.92. The stock has a market capitalization of $929.67 million, a P/E ratio of 6.57 and a beta of 0.55. Trinity Capital Inc. has a 12-month low of $12.50 and a 12-month high of $16.82.
Trinity Capital (NASDAQ:TRIN - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.01). Trinity Capital had a return on equity of 15.91% and a net margin of 50.74%. The business had revenue of $65.39 million during the quarter, compared to the consensus estimate of $67.67 million. Analysts expect that Trinity Capital Inc. will post 2.06 earnings per share for the current year.
Trinity Capital Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be given a dividend of $0.51 per share. The ex-dividend date is Monday, June 30th. This represents a $2.04 annualized dividend and a yield of 14.19%. Trinity Capital's dividend payout ratio (DPR) is presently 93.15%.
Insider Buying and Selling at Trinity Capital
In other news, Director Richard P. Hamada sold 3,335 shares of the firm's stock in a transaction on Monday, May 19th. The shares were sold at an average price of $14.90, for a total transaction of $49,691.50. Following the sale, the director now directly owns 93,735 shares in the company, valued at $1,396,651.50. This trade represents a 3.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Kyle Steven Brown bought 3,513 shares of the company's stock in a transaction that occurred on Friday, May 9th. The stock was purchased at an average cost of $14.22 per share, with a total value of $49,954.86. Following the acquisition, the chief executive officer now directly owns 55,332 shares in the company, valued at $786,821.04. This trade represents a 6.78% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 6,213 shares of company stock valued at $89,005. Company insiders own 6.38% of the company's stock.
Analysts Set New Price Targets
A number of analysts have recently issued reports on the stock. B. Riley started coverage on shares of Trinity Capital in a report on Tuesday, May 13th. They set a "buy" rating and a $16.00 price target on the stock. UBS Group cut their target price on shares of Trinity Capital from $18.00 to $16.50 and set a "buy" rating for the company in a research report on Thursday, April 17th. Keefe, Bruyette & Woods decreased their target price on shares of Trinity Capital from $16.00 to $15.00 and set a "market perform" rating for the company in a research note on Thursday, May 8th. Finally, Wells Fargo & Company dropped their price target on Trinity Capital from $14.00 to $13.00 and set an "underweight" rating on the stock in a research note on Monday, April 28th.
Check Out Our Latest Stock Report on TRIN
Trinity Capital 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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