Trinity Capital Inc. $TRIN Shares Newly Acquired by SMH Capital Advisors Inc.

Key Points

• SMH Capital Advisors acquired 171,820 Trinity Capital shares worth approximately $3.0 million during the third quarter, making TRIN its largest portfolio holding and representing about 0.18% of the company.
• Trinity Capital’s CEO bought 2,296 shares, while institutional investors and hedge funds collectively own 24.62% of the stock. The company reported quarterly EPS of $0.51, slightly below estimates, and revenue of $87.17 million, also below expectations.
• Trinity declared a monthly dividend of $0.17 per share, equivalent to a 11.9% annualized yield. Analysts give the stock a “Moderate Buy” consensus rating with an average price target of $16.60, below its reported opening price of $17.14.

SMH Capital Advisors Inc. purchased a new stake in Trinity Capital Inc. (NASDAQ:TRIN - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 171,820 shares of the company's stock, valued at approximately $3,015,000. Trinity Capital accounts for about 11.4% of SMH Capital Advisors Inc.'s investment portfolio, making the stock its biggest holding. SMH Capital Advisors Inc. owned approximately 0.18% of Trinity Capital as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of TRIN. Total Clarity Wealth Management Inc. acquired a new stake in shares of Trinity Capital in the third quarter worth $203,000. Oppenheimer & Co. Inc. raised its stake in Trinity Capital by 3.4% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 48,702 shares of the company's stock valued at $855,000 after purchasing an additional 1,621 shares during the last quarter. Brookstone Capital Management raised its stake in Trinity Capital by 15.8% during the 3rd quarter. Brookstone Capital Management now owns 13,428 shares of the company's stock valued at $236,000 after purchasing an additional 1,833 shares during the last quarter. Sterling Investment Counsel LLC bought a new stake in Trinity Capital in the 3rd quarter valued at $206,000. Finally, AWM Capital LLC boosted its holdings in Trinity Capital by 5.4% in the 3rd quarter. AWM Capital LLC now owns 90,352 shares of the company's stock valued at $1,586,000 after purchasing an additional 4,658 shares during the period. 24.62% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Trinity Capital

In other Trinity Capital news, CEO Kyle Brown bought 2,296 shares of Trinity Capital stock in a transaction that occurred on Friday, August 7th. The stock was 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 of the company's stock, valued at $11,045,206.48. This trade represents a 0.38% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 4.25% of the stock is owned by corporate insiders.

Trinity Capital Stock Up 0.9%

Shares of NASDAQ TRIN opened at $17.14 on Tuesday. The firm's 50-day simple moving average is $17.48 and its 200 day simple moving average is $16.70. The company has a market cap of $1.62 billion, a price-to-earnings ratio of 9.07 and a beta of 0.63. Trinity Capital Inc. has a 12-month low of $14.13 and a 12-month high of $18.90.

Trinity Capital (NASDAQ:TRIN - Get Free Report) last issued its quarterly 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 company had revenue of $87.17 million during the quarter, compared to analyst estimates of $91.44 million. Trinity Capital had a net margin of 43.45% and a return on equity of 14.94%. On average, equities analysts expect that Trinity Capital Inc. will post 2.10 earnings per share for the current year.

Trinity Capital Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Friday, December 11th will be given a dividend of $0.17 per share. This represents a $2.04 annualized dividend and a dividend yield of 11.9%. The ex-dividend date of this dividend is Friday, December 11th. Trinity Capital's dividend payout ratio is currently 116.57%.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods boosted 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. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $16.60.

Trinity Capital Profile

Trinity Capital Inc NASDAQ: TRIN is a business development company that provides debt financing to venture capital- and private equity-backed companies. The company focuses primarily on growth-stage businesses that may require capital to support expansion, product development, acquisitions, working capital and other corporate needs.

Through its investment platform, Trinity Capital offers a range of financing solutions, including secured loans, equipment financing, growth capital and other customized debt structures.

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