Kovitz Investment Group Partners LLC Makes New Investment in Trinity Capital Inc. $TRIN

Key Points

• Kovitz Investment Group Partners LLC invested approximately $293,000 in Trinity Capital Inc. by purchasing 19,340 shares in the first quarter.
• Trinity Capital recently declared a quarterly dividend of $0.51 per share, resulting in an annualized dividend yield of 12.9%.
• Analysts have mixed ratings for Trinity Capital, with target prices ranging from $13.50 to $17.50, and a consensus rating of "Hold."

Kovitz Investment Group Partners LLC bought a new stake 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 bought 19,340 shares of the company's stock, valued at approximately $293,000.

Other institutional investors have also modified their holdings of the company. Farther Finance Advisors LLC acquired a new position 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 first quarter valued at approximately $45,000. Aquatic Capital Management LLC purchased a new stake in Trinity Capital in the fourth quarter worth $124,000. D.A. Davidson & CO. bought a new position in Trinity Capital in the 1st quarter worth about $160,000. Finally, M&T Bank Corp bought a new position in shares of Trinity Capital during the 1st quarter valued at about $182,000. Institutional investors own 24.62% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on TRIN shares. B. Riley lifted their price objective on Trinity Capital from $16.00 to $17.00 and gave the company a "buy" rating in a research note on Thursday, August 7th. Keefe, Bruyette & Woods cut their price target on Trinity Capital from $16.00 to $15.00 and set a "market perform" rating for the company in a report on Thursday, May 8th. Wells Fargo & Company reissued an "underweight" rating and set a $13.50 price target (up previously from $13.00) on shares of Trinity Capital in a report on Tuesday, August 12th. Finally, UBS Group boosted their price target on Trinity Capital from $17.00 to $17.50 and gave the company a "buy" rating in a report on Wednesday, July 16th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $15.75.

Insider Activity

In other Trinity Capital news, CEO Kyle Steven Brown purchased 3,200 shares of the firm's stock in a transaction that occurred on Friday, August 8th. The stock was purchased at an average cost of $15.78 per share, with a total value of $50,496.00. Following the purchase, the chief executive officer owned 1,006,300 shares of the company's stock, 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink. Over the last three months, insiders purchased 5,900 shares of company stock valued at $89,546. 5.31% of the stock is owned by company insiders.

Trinity Capital Price Performance

Shares of NASDAQ TRIN traded up $0.04 during mid-day trading on Friday, reaching $15.81. The company's stock had a trading volume of 529,310 shares, compared to its average volume of 687,781. The firm has a market capitalization of $1.11 billion, a PE ratio of 7.09 and a beta of 0.54. The stock has a fifty day moving average of $14.89 and a two-hundred day moving average of $15.00. Trinity Capital Inc. has a 52 week low of $12.50 and a 52 week high of $16.82.

Trinity Capital (NASDAQ:TRIN - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.53 earnings per share for the quarter, topping analysts' consensus estimates of $0.52 by $0.01. The firm had revenue of $69.48 million during 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%. Analysts anticipate that Trinity Capital Inc. will post 2.06 EPS for the current fiscal year.

Trinity Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were paid a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 12.9%. The ex-dividend date of this dividend was Monday, June 30th. Trinity Capital's dividend payout ratio (DPR) is presently 91.48%.

About Trinity Capital

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.