Naviter Wealth LLC Purchases Shares of 18,600 Trinity Capital Inc. (NASDAQ:TRIN)

Naviter Wealth LLC purchased a new stake in Trinity Capital Inc. (NASDAQ:TRIN - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 18,600 shares of the company's stock, valued at approximately $294,000.

Several other hedge funds also recently added to or reduced their stakes in TRIN. Private Advisor Group LLC increased its stake in Trinity Capital by 20.4% in the fourth quarter. Private Advisor Group LLC now owns 22,163 shares of the company's stock valued at $321,000 after purchasing an additional 3,754 shares during the last quarter. Y Intercept Hong Kong Ltd increased its stake in Trinity Capital by 151.9% in the fourth quarter. Y Intercept Hong Kong Ltd now owns 31,717 shares of the company's stock valued at $459,000 after purchasing an additional 19,125 shares during the last quarter. Oppenheimer & Co. Inc. increased its stake in Trinity Capital by 11.4% in the fourth quarter. Oppenheimer & Co. Inc. now owns 13,852 shares of the company's stock valued at $200,000 after purchasing an additional 1,423 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Trinity Capital in the fourth quarter valued at approximately $708,000. Finally, Commonwealth Equity Services LLC increased its stake in Trinity Capital by 24.1% in the fourth quarter. Commonwealth Equity Services LLC now owns 116,600 shares of the company's stock valued at $1,687,000 after purchasing an additional 22,657 shares during the last quarter. 24.62% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TRIN has been the topic of a number of recent research reports. Keefe, Bruyette & Woods cut their target price on shares of Trinity Capital from $16.00 to $15.00 and set a "market perform" rating on the stock in a report on Thursday, May 8th. Wells Fargo & Company lowered their price objective on shares of Trinity Capital from $14.00 to $13.00 and set an "underweight" rating on the stock in a research report on Monday, April 28th. UBS Group decreased their price objective on Trinity Capital from $18.00 to $16.50 and set a "buy" rating for the company in a research report on Thursday, April 17th. Finally, B. Riley started coverage on Trinity Capital in a report on Tuesday, May 13th. They issued a "buy" rating and a $16.00 target price on the stock.

Insider Buying and Selling

In related news, CEO Kyle Steven Brown acquired 3,513 shares of the firm's stock in a transaction that occurred on Friday, May 9th. The shares were purchased at an average price of $14.22 per share, with a total value of $49,954.86. Following the completion of the acquisition, the chief executive officer now owns 55,332 shares in the company, valued at approximately $786,821.04. This represents a 6.78% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Richard P. Hamada sold 3,335 shares of the stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $14.90, for a total transaction of $49,691.50. Following the completion of the transaction, the director now directly owns 93,735 shares of the company's stock, valued at approximately $1,396,651.50. This trade represents a 3.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have acquired 6,213 shares of company stock valued at $89,005 over the last quarter. Company insiders own 6.38% of the company's stock.

Trinity Capital Stock Down 1.2%

Shares of NASDAQ:TRIN opened at $14.34 on Monday. Trinity Capital Inc. has a fifty-two week low of $12.50 and a fifty-two week high of $16.82. The firm's 50-day simple moving average is $14.48 and its 200-day simple moving average is $14.92. The company has a market cap of $927.08 million, a price-to-earnings ratio of 6.55 and a beta of 0.55.

Trinity Capital (NASDAQ:TRIN - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.52 earnings per share for the quarter, missing analysts' consensus estimates of $0.53 by ($0.01). Trinity Capital had a net margin of 50.74% and a return on equity of 15.91%. The business had revenue of $65.39 million during the quarter, compared to analysts' expectations of $67.67 million. On average, research analysts forecast that Trinity Capital Inc. will post 2.06 EPS for the current year.

Trinity Capital Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be paid a $0.51 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 14.23%. Trinity Capital's dividend payout ratio (DPR) is presently 93.15%.

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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