Prevail Innovative Wealth Advisors LLC Acquires New Shares in Trinity Capital Inc. $TRIN

Key Points

• Prevail Innovative Wealth Advisors LLC bought a new position of 126,564 shares of Trinity Capital (NASDAQ:TRIN) in Q3 worth about $1.96 million, while several other funds also increased stakes, leaving institutional ownership near 24.6%.
• CEO Kyle Steven Brown purchased 3,333 shares at an average price of $14.90 on March 2, boosting his holdings to 376,775 shares and contributing to insiders owning roughly 5.31% of the company.
• Trinity declared a monthly dividend of $0.17 per share (record March 13, paid March 31), implying a 13.7% yield but a payout ratio of about 104%, which could raise sustainability concerns.

Prevail Innovative Wealth Advisors LLC bought a new position in Trinity Capital Inc. (NASDAQ:TRIN - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 126,564 shares of the company's stock, valued at approximately $1,959,000. Prevail Innovative Wealth Advisors LLC owned 0.17% of Trinity Capital at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Mutual Advisors LLC acquired a new stake in shares of Trinity Capital in the 3rd quarter worth about $1,421,000. AWM Capital LLC boosted its stake in Trinity Capital by 174.2% during the 3rd quarter. AWM Capital LLC now owns 177,090 shares of the company's stock valued at $2,741,000 after purchasing an additional 112,507 shares during the period. Beacon Pointe Advisors LLC acquired a new position in Trinity Capital during the 2nd quarter valued at about $737,000. Allworth Financial LP bought a new position in Trinity Capital in the 2nd quarter worth about $53,000. Finally, Quantbot Technologies LP increased its stake in shares of Trinity Capital by 322.3% in the second quarter. Quantbot Technologies LP now owns 155,851 shares of the company's stock valued at $2,193,000 after purchasing an additional 118,942 shares during the period. 24.62% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Loop Capital set a $17.00 price objective on Trinity Capital in a research report on Thursday, December 11th. Clear Str upgraded Trinity Capital to a "strong-buy" rating in a research report on Wednesday, February 4th. Capital One Financial set a $17.00 target price on Trinity Capital in a research note on Thursday, December 11th. Citizens Jmp set a $17.50 price target on Trinity Capital in a research note on Monday, December 8th. Finally, Citigroup reissued an "outperform" rating on shares of Trinity Capital in a report on Tuesday, January 27th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $16.29.

Insider Transactions at Trinity Capital

In other Trinity Capital news, CEO Kyle Steven Brown purchased 3,333 shares of the company's stock in a transaction on Monday, March 2nd. The shares were purchased at an average cost of $14.90 per share, for a total transaction of $49,661.70. Following the completion of the transaction, the chief executive officer owned 376,775 shares in the company, valued at $5,613,947.50. The trade was a 0.89% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders bought 5,033 shares of company stock worth $75,263 over the last quarter. 5.31% of the stock is owned by insiders.

Trinity Capital Price Performance

TRIN opened at $14.91 on Friday. The company has a market capitalization of $1.24 billion, a price-to-earnings ratio of 7.61 and a beta of 0.55. Trinity Capital Inc. has a 1-year low of $12.50 and a 1-year high of $17.20. The business has a 50 day moving average price of $15.72 and a two-hundred day moving average price of $15.43.

Trinity Capital (NASDAQ:TRIN - Get Free Report) last issued its quarterly earnings results on Wednesday, February 25th. The company reported $0.52 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.51 by $0.01. Trinity Capital had a return on equity of 14.97% and a net margin of 46.18%.The firm had revenue of $58.89 million during the quarter, compared to analyst estimates of $79.83 million. Equities analysts expect that Trinity Capital Inc. will post 2.06 EPS for the current fiscal year.

Trinity Capital Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 13th will be issued a dividend of $0.17 per share. This represents a c) dividend on an annualized basis and a yield of 13.7%. The ex-dividend date of this dividend is Friday, March 13th. Trinity Capital's payout ratio is presently 104.08%.

About Trinity Capital

Trinity Capital Corporation NASDAQ: TRIN is a publicly traded business development company that provides flexible financing solutions to venture-backed and growth-stage companies. As a venture lender, Trinity Capital offers customized capital structures, including secured debt and equity co-investment, designed to support companies that have progressed beyond early-stage funding but still require non-dilutive growth capital.

The company focuses its investments on technology-driven sectors such as software, fintech, healthcare, life sciences and cleantech.

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