Trinity Capital Inc. $TRIN Stock Sold by Sound Income Strategies LLC

Key Points

• Sound Income Strategies reduced its Trinity Capital stake by 10.9% in the third quarter, selling 138,628 shares and retaining 1.13 million shares valued at approximately $19.4 million. Institutional investors collectively own 24.62% of the company.
• Analysts maintain a generally positive outlook, with an average rating of “Moderate Buy” and an average price target of $16.67; Keefe, Bruyette & Woods raised its target to $16.50 while maintaining a market-perform rating.
• TRIN recently traded at $17.09 and declared a monthly dividend of $0.17 per share, equivalent to an annualized $2.04 payout and an 11.9% yield. The company’s latest quarterly earnings and revenue slightly missed analyst expectations, while CEO Kyle Brown bought 2,296 shares.

Sound Income Strategies LLC decreased its position in Trinity Capital Inc. (NASDAQ:TRIN - Free Report) by 10.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,131,116 shares of the company's stock after selling 138,628 shares during the quarter. Sound Income Strategies LLC owned about 1.19% of Trinity Capital worth $19,410,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in TRIN. Farther Finance Advisors LLC boosted its stake in Trinity Capital by 8.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 14,076 shares of the company's stock valued at $247,000 after purchasing an additional 1,100 shares during the period. Envestnet Asset Management Inc. increased its position in Trinity Capital by 16.3% during the 2nd quarter. Envestnet Asset Management Inc. now owns 74,075 shares of the company's stock worth $1,325,000 after buying an additional 10,364 shares during the period. State Street Corp lifted its holdings in shares of Trinity Capital by 17.8% during the second quarter. State Street Corp now owns 106,371 shares of the company's stock worth $1,903,000 after buying an additional 16,103 shares in the last quarter. Allworth Financial LP boosted its position in shares of Trinity Capital by 37.3% in the second quarter. Allworth Financial LP now owns 8,826 shares of the company's stock valued at $158,000 after acquiring an additional 2,396 shares during the period. Finally, Corient Private Wealth LP boosted its position in shares of Trinity Capital by 49.3% in the second quarter. Corient Private Wealth LP now owns 150,732 shares of the company's stock valued at $2,697,000 after acquiring an additional 49,755 shares during the period. Institutional investors own 24.62% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods raised their price target on shares of Trinity Capital from $16.00 to $16.50 and gave the stock a "market perform" rating in a research report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $16.67.

Trinity Capital Trading Down 0.4%

NASDAQ TRIN traded down $0.07 during midday trading on Friday, hitting $17.09. The company had a trading volume of 777,218 shares, compared to its average volume of 1,138,037. The company has a market capitalization of $1.62 billion, a PE ratio of 9.05 and a beta of 0.63. The firm has a 50-day moving average price of $17.96 and a 200-day moving average price of $17.08. Trinity Capital Inc. has a twelve month low of $14.13 and a twelve month high of $18.90.

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 the consensus estimate of $0.52 by ($0.01). The business had revenue of $87.17 million for the quarter, compared to the consensus estimate of $91.44 million. Trinity Capital had a return on equity of 14.94% and a net margin of 43.45%. On average, equities analysts anticipate that Trinity Capital Inc. will post 2.10 EPS for the current year.

Trinity Capital Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Friday, December 11th will be paid a $0.17 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 11.9%. The ex-dividend date is Friday, December 11th. Trinity Capital's dividend payout ratio (DPR) is presently 116.57%.

Insider Buying and Selling at Trinity Capital

In related news, CEO Kyle Brown purchased 2,296 shares of the firm's stock in a transaction that occurred on Friday, August 7th. The shares were bought at an average cost of $18.04 per share, with a total value of $41,419.84. Following 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 4.25% of the company's stock.

Trinity Capital Company Profile

Trinity Capital Inc is a business development company that provides debt financing to venture capital- and private equity-backed companies, primarily those in the growth stage of their development. The company seeks to support businesses that may not yet have consistent access to traditional bank financing.

Its offerings include venture debt, term loans, equipment financing and other structured lending solutions designed to fund product development, capital expenditures, acquisitions, working capital and general corporate purposes.

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