Insider Buying: Trinity Capital (NASDAQ:TRIN) Director Purchases 1,000 Shares of Stock

Key Points

• Trinity Capital Director Ronald Estes purchased 1,000 shares at an average cost of $16.08 each, increasing his stake by 2.79% and bringing his total shares to 36,779.
• The company's quarterly earnings exceeded expectations, reporting $0.53 EPS and a revenue of $69.48 million, contributing to a return on equity of 15.72%.
• Trinity Capital declared a quarterly dividend of $0.51, resulting in a dividend yield of 12.7%, with a payout ratio of 91.48%.

Trinity Capital Inc. (NASDAQ:TRIN - Get Free Report) Director Ronald Estes acquired 1,000 shares of the company's stock in a transaction that occurred on Friday, September 12th. The shares were acquired at an average cost of $16.08 per share, for a total transaction of $16,080.00. Following the purchase, the director directly owned 36,779 shares in the company, valued at $591,406.32. This trade represents a 2.79% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Trinity Capital Stock Down 0.6%

Trinity Capital stock traded down $0.09 during mid-day trading on Monday, hitting $16.02. 706,771 shares of the company's stock were exchanged, compared to its average volume of 637,792. The company's 50 day simple moving average is $15.45 and its 200-day simple moving average is $15.02. Trinity Capital Inc. has a fifty-two week low of $12.50 and a fifty-two week high of $16.82. The firm has a market capitalization of $1.13 billion, a P/E ratio of 7.18 and a beta of 0.54.

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

Trinity Capital Announces Dividend

The company also recently declared 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 of this dividend was Monday, June 30th. This represents a $2.04 annualized dividend and a dividend yield of 12.7%. Trinity Capital's dividend payout ratio (DPR) is currently 91.48%.

Hedge Funds Weigh In On Trinity Capital

Hedge funds and other institutional investors have recently bought and sold shares of the business. First Horizon Advisors Inc. bought a new position in Trinity Capital during the second quarter worth about $32,000. Farther Finance Advisors LLC bought a new stake in shares of Trinity Capital during the first quarter worth approximately $38,000. PNC Financial Services Group Inc. bought a new stake in shares of Trinity Capital during the first quarter worth approximately $45,000. Allworth Financial LP bought a new stake in shares of Trinity Capital during the second quarter worth approximately $53,000. Finally, JPMorgan Chase & Co. bought a new stake in shares of Trinity Capital during the second quarter worth approximately $54,000. Institutional investors own 24.62% of the company's stock.

Wall Street Analysts Forecast Growth

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

About Trinity Capital

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.

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