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

Other institutional investors have also modified their holdings of the company. Farther Finance Advisors LLC purchased a new stake in shares of Trinity Capital during the 1st quarter worth approximately $38,000. PNC Financial Services Group Inc. purchased a new stake in shares of Trinity Capital during the 1st quarter worth approximately $45,000. Quarry LP lifted its position in shares of Trinity Capital by 194.8% during the 1st quarter. Quarry LP now owns 4,442 shares of the company's stock worth $67,000 after buying an additional 2,935 shares during the last quarter. D.A. Davidson & CO. purchased a new stake in shares of Trinity Capital during the 1st quarter worth approximately $160,000. Finally, Wealth Enhancement Advisory Services LLC lifted its position in shares of Trinity Capital by 9.0% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 12,173 shares of the company's stock worth $176,000 after buying an additional 1,000 shares during the last quarter. Hedge funds and other institutional investors own 24.62% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on TRIN. Wells Fargo & Company restated an "underweight" rating and set a $13.50 price objective (up previously from $13.00) on shares of Trinity Capital in a research report on Tuesday, August 12th. UBS Group boosted their price objective on shares of Trinity Capital from $17.00 to $17.50 and gave the stock a "buy" rating in a research report on Wednesday, July 16th. Finally, B. Riley upped their price target on shares of Trinity Capital from $16.00 to $17.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. Two 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 stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $15.75.

Insider Buying and Selling at Trinity Capital

In other news, Director Ronald E. Estes acquired 2,000 shares of the company's stock in a transaction on Thursday, September 11th. The shares were bought at an average cost of $16.07 per share, with a total value of $32,140.00. Following the purchase, the director owned 35,779 shares of the company's stock, valued at $574,968.53. This represents a 5.92% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Kyle Steven Brown acquired 3,200 shares of the company's stock in a transaction on Friday, August 8th. The stock was purchased at an average cost of $15.78 per share, for a total transaction of $50,496.00. Following the completion of the purchase, the chief executive officer directly owned 1,006,300 shares in the company, valued at $15,879,414. This trade represents a 0.32% increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 6,200 shares of company stock worth $98,776 over the last three months. 5.31% of the stock is currently owned by corporate insiders.

Trinity Capital Trading Down 0.1%

TRIN stock traded down $0.01 on Friday, hitting $16.11. The company's stock had a trading volume of 388,383 shares, compared to its average volume of 519,679. The stock has a market cap of $1.13 billion, a price-to-earnings ratio of 7.22 and a beta of 0.54. The firm has a 50 day moving average of $15.45 and a two-hundred day moving average of $15.03. Trinity Capital Inc. has a 1 year low of $12.50 and a 1 year high of $16.82.

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

Trinity Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were paid a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 12.7%. The ex-dividend date of this dividend was Monday, June 30th. Trinity Capital's payout ratio is currently 91.48%.

Trinity Capital 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.