Trexquant Investment LP Purchases 24,041 Shares of Trinity Capital Inc. $TRIN

Key Points

• Trexquant Investment LP increased its stake in Trinity Capital Inc. by 10.7%, holding approximately 0.39% of the company, valued at $3.79 million.
• Trinity Capital reported a quarterly EPS of $0.53, surpassing expectations, with revenue of $69.48 million.
• The company declared a quarterly dividend of $0.51, resulting in an annualized dividend yield of 12.6%.

Trexquant Investment LP boosted its position in Trinity Capital Inc. (NASDAQ:TRIN - Free Report) by 10.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 249,751 shares of the company's stock after acquiring an additional 24,041 shares during the period. Trexquant Investment LP owned 0.39% of Trinity Capital worth $3,786,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Farther Finance Advisors LLC bought a new position in Trinity Capital in the first quarter worth approximately $38,000. PNC Financial Services Group Inc. bought a new position in Trinity Capital in the first quarter worth approximately $45,000. Aquatic Capital Management LLC bought a new position in Trinity Capital in the fourth quarter worth approximately $124,000. D.A. Davidson & CO. bought a new position in Trinity Capital in the first quarter worth approximately $160,000. Finally, M&T Bank Corp bought a new position in Trinity Capital in the first quarter worth approximately $182,000. Institutional investors own 24.62% of the company's stock.

Analysts Set New Price Targets

Several brokerages have issued reports on TRIN. B. Riley increased their price target on Trinity Capital from $16.00 to $17.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. UBS Group increased their price target on Trinity Capital from $17.00 to $17.50 and gave the stock a "buy" rating in a report on Wednesday, July 16th. Finally, Wells Fargo & Company restated an "underweight" rating and issued a $13.50 target price (up previously from $13.00) on shares of Trinity Capital in a report on Tuesday, August 12th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $15.75.

Trinity Capital Price Performance

Shares of TRIN stock traded up $0.04 during trading hours on Friday, reaching $16.23. The company had a trading volume of 544,903 shares, compared to its average volume of 596,364. Trinity Capital Inc. has a 12 month low of $12.50 and a 12 month high of $16.82. The business has a fifty day simple moving average of $15.24 and a 200-day simple moving average of $15.02. The company has a market cap of $1.14 billion, a price-to-earnings ratio of 7.28 and a beta of 0.54.

Trinity Capital (NASDAQ:TRIN - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.53 EPS for the quarter, topping analysts' consensus estimates of $0.52 by $0.01. The business had revenue of $69.48 million for the quarter, compared to analyst estimates of $68.84 million. Trinity Capital had a return on equity of 15.72% and a net margin of 51.88%. On average, equities research analysts expect that Trinity Capital Inc. will post 2.06 earnings per share for the current year.

Trinity Capital Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were paid a $0.51 dividend. The ex-dividend date was Monday, June 30th. This represents a $2.04 annualized dividend and a dividend yield of 12.6%. Trinity Capital's payout ratio is presently 91.48%.

Insider Activity

In other news, CEO Kyle Steven Brown bought 3,200 shares of the stock in a transaction on Friday, August 8th. The shares were purchased at an average cost of $15.78 per share, for a total transaction of $50,496.00. Following the completion of the purchase, the chief executive officer directly owned 1,006,300 shares in the company, valued at $15,879,414. This represents a 0.32% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders acquired 4,900 shares of company stock valued at $75,196 in the last 90 days. 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.