149,068 Shares in Trinity Capital Inc. (NASDAQ:TRIN) Purchased by Sovereign s Capital Management LLC

Sovereign s Capital Management LLC bought a new position in shares of Trinity Capital Inc. (NASDAQ:TRIN - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 149,068 shares of the company's stock, valued at approximately $2,157,000. Sovereign s Capital Management LLC owned about 0.25% of Trinity Capital at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of TRIN. Wells Fargo & Company MN lifted its holdings in shares of Trinity Capital by 652.3% during the fourth quarter. Wells Fargo & Company MN now owns 243,414 shares of the company's stock worth $3,522,000 after purchasing an additional 211,060 shares during the period. Round Rock Advisors LLC acquired a new stake in shares of Trinity Capital during the fourth quarter worth $2,772,000. Trexquant Investment LP lifted its holdings in shares of Trinity Capital by 421.3% during the fourth quarter. Trexquant Investment LP now owns 225,710 shares of the company's stock worth $3,266,000 after purchasing an additional 182,414 shares during the period. GraniteShares Advisors LLC acquired a new stake in shares of Trinity Capital during the fourth quarter worth $2,469,000. Finally, Concentric Capital Strategies LP acquired a new stake in shares of Trinity Capital during the fourth quarter worth $1,967,000. 24.62% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on TRIN. Wells Fargo & Company decreased their price target on Trinity Capital from $14.00 to $13.00 and set an "underweight" rating for the company in a report on Monday, April 28th. UBS Group decreased their price target on Trinity Capital from $18.00 to $16.50 and set a "buy" rating for the company in a report on Thursday, April 17th. Keefe, Bruyette & Woods decreased 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. Finally, B. Riley assumed coverage on Trinity Capital in a report on Tuesday, May 13th. They set a "buy" rating and a $16.00 price target for the company.

Trinity Capital Price Performance

Trinity Capital stock traded down $0.45 during midday trading on Wednesday, reaching $14.50. The company's stock had a trading volume of 425,940 shares, compared to its average volume of 532,966. Trinity Capital Inc. has a fifty-two week low of $12.50 and a fifty-two week high of $16.82. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.05 and a current ratio of 0.05. The stock's 50 day simple moving average is $14.76 and its 200 day simple moving average is $14.86. The firm has a market capitalization of $937.44 million, a PE ratio of 8.48 and a beta of 0.57.

Trinity Capital (NASDAQ:TRIN - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $0.52 EPS for the quarter, missing analysts' consensus estimates of $0.53 by ($0.01). Trinity Capital had a net margin of 40.73% and a return on equity of 15.90%. The business had revenue of $65.39 million during the quarter, compared to analyst estimates of $67.67 million. On average, equities research analysts forecast that Trinity Capital Inc. will post 2.06 earnings per share for the current year.

Trinity Capital Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 14.07%. The ex-dividend date of this dividend was Monday, March 31st. Trinity Capital's dividend payout ratio (DPR) is currently 93.15%.

Insider Transactions at Trinity Capital

In other news, CEO Kyle Steven Brown purchased 3,513 shares of the business's stock in a transaction dated Friday, May 9th. The stock was acquired at an average price of $14.22 per share, with a total value of $49,954.86. Following the purchase, the chief executive officer now directly owns 55,332 shares of the company's stock, valued at $786,821.04. This represents a 6.78% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Richard P. Hamada sold 3,335 shares of Trinity Capital stock in a transaction on Monday, May 19th. The stock was sold at an average price of $14.90, for a total value of $49,691.50. Following the transaction, the director now directly owns 93,735 shares of the company's stock, valued at $1,396,651.50. This trade represents a 3.44% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 5.31% of the company's stock.

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.