Quantbot Technologies LP Buys New Holdings in Trinity Capital Inc. $TRIN

Key Points

• Quantbot Technologies purchased 54,361 Trinity Capital shares worth approximately $973,000, while institutional investors collectively own 24.62% of the company.
• Trinity Capital reported quarterly EPS of $0.51 and revenue of $87.17 million, both slightly below analyst expectations. Shares recently traded at $18.70, near their 52-week high of $18.81.
• The company declared a monthly dividend of $0.17 per share, implying an annualized yield of approximately 10.9%, though its payout ratio remains elevated at 116.57%.

Quantbot Technologies LP purchased a new stake in shares of Trinity Capital Inc. (NASDAQ:TRIN - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 54,361 shares of the company's stock, valued at approximately $973,000. Quantbot Technologies LP owned approximately 0.06% of Trinity Capital at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. Goldman Sachs Group Inc. boosted its stake in Trinity Capital by 609.9% in the first quarter. Goldman Sachs Group Inc. now owns 136,672 shares of the company's stock worth $2,072,000 after purchasing an additional 117,420 shares in the last quarter. Empowered Funds LLC acquired a new stake in shares of Trinity Capital in the first quarter valued at $234,000. JPMorgan Chase & Co. acquired a new stake in shares of Trinity Capital in the second quarter valued at $54,000. Invesco Ltd. raised its holdings in shares of Trinity Capital by 2.7% in the second quarter. Invesco Ltd. now owns 838,194 shares of the company's stock valued at $11,793,000 after buying an additional 21,729 shares during the last quarter. Finally, Marshall Wace LLP bought a new position in shares of Trinity Capital in the second quarter valued at about $346,000. Institutional investors own 24.62% of the company's stock.

Insider Transactions at Trinity Capital

In other Trinity Capital news, CEO Kyle Steven Brown acquired 2,296 shares of Trinity Capital stock in a transaction on Friday, August 7th. The shares were purchased at an average cost of $18.04 per share, with a total value of $41,419.84. Following the completion of the purchase, the chief executive officer owned 612,262 shares in the company, valued at $11,045,206.48. The trade was a 0.38% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 4.25% of the company's stock.

Trinity Capital Stock Performance

Shares of NASDAQ:TRIN opened at $18.70 on Thursday. The stock has a market capitalization of $1.77 billion, a P/E ratio of 9.89 and a beta of 0.61. Trinity Capital Inc. has a 1-year low of $14.13 and a 1-year high of $18.81. The business has a 50-day moving average price of $17.72 and a two-hundred day moving average price of $16.47.

Trinity Capital (NASDAQ:TRIN - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported $0.51 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.52 by ($0.01). Trinity Capital had a net margin of 43.45% and a return on equity of 14.94%. The business had revenue of $87.17 million for the quarter, compared to analyst estimates of $91.44 million. As a group, equities analysts predict that Trinity Capital Inc. will post 2.1 EPS for the current year.

Trinity Capital Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Thursday, September 10th will be paid a $0.17 dividend. The ex-dividend date of this dividend is Thursday, September 10th. This represents a c) dividend on an annualized basis and a yield of 10.9%. Trinity Capital's dividend payout ratio (DPR) is presently 116.57%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on TRIN. Keefe, Bruyette & Woods increased their price objective on shares of Trinity Capital from $16.00 to $16.50 and gave the stock a "market perform" rating in a report on Thursday, August 6th. Wells Fargo & Company boosted their target price on shares of Trinity Capital from $13.50 to $15.00 and gave the stock an "underweight" rating in a research note on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Trinity Capital has a consensus rating of "Moderate Buy" and an average target price of $16.67.

Trinity Capital Company Profile

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.

Want to see what other hedge funds are holding TRIN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Trinity Capital Inc. (NASDAQ:TRIN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source