Cubist Systematic Strategies LLC Invests $1.78 Million in Trinity Capital Inc. $TRIN

Key Points

• Cubist Systematic Strategies LLC purchased 117,236 shares of Trinity Capital Inc. valued at approximately $1.78 million, increasing its ownership stake to 0.18% as per the recent SEC filing.
• Trinity Capital recently announced a quarterly dividend of $0.51 per share, resulting in an annualized dividend yield of 12.6%, with a payout ratio of 91.48%.
• The company's stock price is currently at $16.23, with a 52-week high of $16.82 and a market capitalization of $1.14 billion.

Cubist Systematic Strategies LLC purchased a new position in Trinity Capital Inc. (NASDAQ:TRIN - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 117,236 shares of the company's stock, valued at approximately $1,777,000. Cubist Systematic Strategies LLC owned 0.18% of Trinity Capital at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Quarry LP raised its position in shares of Trinity Capital by 194.8% in the first quarter. Quarry LP now owns 4,442 shares of the company's stock valued at $67,000 after purchasing an additional 2,935 shares during the period. Vident Advisory LLC lifted its holdings in shares of Trinity Capital by 37.2% in the 1st quarter. Vident Advisory LLC now owns 22,219 shares of the company's stock worth $337,000 after acquiring an additional 6,022 shares during the last quarter. Trexquant Investment LP raised its holdings in Trinity Capital by 10.7% during the 1st quarter. Trexquant Investment LP now owns 249,751 shares of the company's stock valued at $3,786,000 after buying an additional 24,041 shares during the last quarter. Kovitz Investment Group Partners LLC bought a new position in Trinity Capital in the 1st quarter worth $293,000. Finally, Eagle Global Advisors LLC bought a new position in Trinity Capital in the 1st quarter worth $323,000. 24.62% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO Kyle Steven Brown acquired 3,200 shares of the business's stock in a transaction that occurred on Friday, August 8th. The stock was acquired at an average cost of $15.78 per share, for a total transaction of $50,496.00. Following the completion of the acquisition, the chief executive officer owned 1,006,300 shares in the company, valued at approximately $15,879,414. The trade was a 0.32% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders acquired 4,900 shares of company stock worth $75,196 in the last ninety days. 6.38% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

TRIN has been the topic of several recent analyst reports. UBS Group increased their price objective on shares of Trinity Capital from $17.00 to $17.50 and gave the company a "buy" rating in a research report on Wednesday, July 16th. Wells Fargo & Company reiterated an "underweight" rating and issued a $13.50 target price (up from $13.00) on shares of Trinity Capital in a report on Tuesday, August 12th. Finally, B. Riley upped their target price on Trinity Capital from $16.00 to $17.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Trinity Capital has a consensus rating of "Hold" and an average price target of $15.75.

Trinity Capital Trading Down 0.2%

Shares of NASDAQ:TRIN traded down $0.04 on Tuesday, hitting $16.20. The company had a trading volume of 483,510 shares, compared to its average volume of 559,596. Trinity Capital Inc. has a 52-week low of $12.50 and a 52-week high of $16.82. The business has a 50 day moving average of $15.33 and a 200 day moving average of $15.02. The company has a market cap of $1.14 billion, a PE ratio of 7.26 and a beta of 0.54.

Trinity Capital (NASDAQ:TRIN - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $0.53 EPS for the quarter, topping analysts' consensus estimates of $0.52 by $0.01. The company had revenue of $69.48 million for the quarter, compared to the consensus estimate of $68.84 million. Trinity Capital had a return on equity of 15.72% and a net margin of 51.88%. As a group, equities analysts predict that Trinity Capital Inc. will post 2.06 EPS for the current year.

Trinity Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were given a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 12.6%. The ex-dividend date of this dividend was Monday, June 30th. Trinity Capital's dividend payout ratio (DPR) is 91.48%.

Trinity Capital Company Profile

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.