Sanctuary Advisors LLC Purchases New Shares in Trinity Capital Inc. $TRIN

Key Points

• Sanctuary Advisors LLC acquired 93,029 shares of Trinity Capital during the second quarter, worth approximately $1.66 million and representing a 0.10% stake. Institutional investors collectively own 24.62% of the company.
• Trinity Capital reported quarterly earnings of $0.51 per share and revenue of $87.17 million, both slightly below analyst expectations. Shares opened at $18.70, near their 12-month high of $18.81.
• The company declared a monthly dividend of $0.17 per share, implying a 10.9% annualized yield, while analysts maintain a consensus “Moderate Buy” rating with a $16.67 target price.

Sanctuary Advisors LLC acquired a new stake in shares of Trinity Capital Inc. (NASDAQ:TRIN - Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 93,029 shares of the company's stock, valued at approximately $1,664,000. Sanctuary Advisors LLC owned 0.10% of Trinity Capital at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Goldman Sachs Group Inc. lifted its position in shares of Trinity Capital by 609.9% in the 1st 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 during the period. Empowered Funds LLC purchased a new position in shares of Trinity Capital during the first quarter valued at about $234,000. JPMorgan Chase & Co. purchased a new position in shares of Trinity Capital during the second quarter valued at about $54,000. Invesco Ltd. increased its position in shares of Trinity Capital by 2.7% during 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 period. Finally, Marshall Wace LLP bought a new position in Trinity Capital in the second quarter worth about $346,000. 24.62% of the stock is currently owned by institutional investors.

Trinity Capital Stock Performance

Shares of Trinity Capital stock opened at $18.70 on Thursday. The firm has a market capitalization of $1.77 billion, a P/E ratio of 9.89 and a beta of 0.61. The business has a fifty day simple moving average of $17.72 and a two-hundred day simple moving average of $16.47. Trinity Capital Inc. has a 12 month low of $14.13 and a 12 month high of $18.81.

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

Trinity Capital Announces Dividend

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

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Keefe, Bruyette & Woods raised 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 upped their target price on Trinity Capital from $13.50 to $15.00 and gave the stock an "underweight" rating in a report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Trinity Capital currently has a consensus rating of "Moderate Buy" and a consensus target price of $16.67.

Insiders Place Their Bets

In other Trinity Capital news, CEO Kyle Steven Brown acquired 2,296 shares of the business's stock in a transaction on Friday, August 7th. The shares were acquired at an average price of $18.04 per share, for a total transaction of $41,419.84. Following the completion of the acquisition, the chief executive officer owned 612,262 shares in the company, valued at $11,045,206.48. This trade represents a 0.38% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 4.25% of the company's stock.

Trinity Capital 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.

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