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

Key Points

• Denali Advisors LLC acquired 102,530 shares of Trinity Capital Inc., valued at approximately $1,443,000, representing about 0.16% of the company's stock.
• Trinity Capital reported earnings of $0.53 per share for the last quarter, exceeding analysts' expectations and achieving a revenue of $69.48 million.
• The company recently paid a quarterly dividend of $0.51, translating to an annualized yield of 13.8%, with a payout ratio of 91.48%.

Denali Advisors LLC acquired a new stake in shares of Trinity Capital Inc. (NASDAQ:TRIN - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 102,530 shares of the company's stock, valued at approximately $1,443,000. Denali Advisors LLC owned about 0.16% of Trinity Capital at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Farther Finance Advisors LLC purchased a new position in Trinity Capital during the first quarter worth $38,000. PNC Financial Services Group Inc. bought a new position in Trinity Capital in the first quarter worth about $45,000. Quarry LP raised its holdings in Trinity Capital by 194.8% in the first quarter. Quarry LP now owns 4,442 shares of the company's stock worth $67,000 after purchasing an additional 2,935 shares in the last quarter. Blue Trust Inc. raised its holdings in Trinity Capital by 40.3% in the second quarter. Blue Trust Inc. now owns 5,929 shares of the company's stock worth $83,000 after purchasing an additional 1,704 shares in the last quarter. Finally, Geneos Wealth Management Inc. bought a new position in Trinity Capital in the first quarter worth about $108,000. 24.62% of the stock is owned by hedge funds and other institutional investors.

Trinity Capital Price Performance

Shares of NASDAQ:TRIN opened at $14.75 on Thursday. Trinity Capital Inc. has a 1 year low of $12.50 and a 1 year high of $16.82. The firm has a market capitalization of $1.04 billion, a price-to-earnings ratio of 6.61 and a beta of 0.53. The business's 50 day moving average price is $15.68 and its 200-day moving average price is $14.94.

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 for the quarter, beating analysts' consensus estimates of $0.52 by $0.01. The company had revenue of $69.48 million for the quarter, compared to analyst estimates of $68.84 million. Trinity Capital had a return on equity of 15.72% and a net margin of 51.88%. On average, sell-side analysts expect 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 Wednesday, October 15th. Shareholders of record on Tuesday, September 30th were issued a $0.51 dividend. The ex-dividend date was Tuesday, September 30th. This represents a $2.04 dividend on an annualized basis and a yield of 13.8%. Trinity Capital's dividend payout ratio (DPR) is presently 91.48%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on TRIN shares. 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 report on Tuesday, August 12th. B. Riley upped their price objective on shares of Trinity Capital from $16.00 to $17.00 and gave the company a "buy" rating in a report on Thursday, August 7th. Finally, UBS Group cut their price objective on shares of Trinity Capital from $18.00 to $17.00 and set a "buy" rating on the stock in a report on Tuesday, October 14th. 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 company. According to MarketBeat, Trinity Capital presently has an average rating of "Hold" and an average price target of $15.63.

Insiders Place Their Bets

In other news, Director Ronald E. Estes acquired 2,000 shares of the firm's stock in a transaction on Thursday, September 11th. The shares were bought at an average price of $16.07 per share, for a total transaction of $32,140.00. Following the acquisition, the director owned 35,779 shares of the company's stock, valued at approximately $574,968.53. This trade represents a 5.92% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Kyle Steven Brown bought 3,200 shares of the business's stock in a transaction on Friday, August 8th. The stock was bought at an average cost of $15.78 per share, with a total value 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 approximately $15,879,414. The trade was a 0.32% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired a total of 7,200 shares of company stock worth $114,856 in the last 90 days. 5.31% of the stock is currently owned by insiders.

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.

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