Kyle Steven Brown Buys 2,296 Shares of Trinity Capital (NASDAQ:TRIN) Stock

Key Points

• CEO Kyle Steven Brown purchased 2,296 Trinity Capital shares at an average price of $18.04, investing $41,419.84 and increasing his ownership to 612,262 shares.
• Trinity Capital shares recently traded at $18.18, near their 52-week high of $18.46, while the company has a market capitalization of approximately $1.72 billion.
• The company declared a monthly dividend of $0.17 per share, implying an annualized yield of about 11.2%; analysts collectively rate the stock “Moderate Buy,” with an average price target of $16.67.

Trinity Capital Inc. (NASDAQ:TRIN - Get Free Report) CEO Kyle Steven Brown purchased 2,296 shares of the business's stock in a transaction dated Friday, August 7th. The shares were acquired at an average price of $18.04 per share, with a total value 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 approximately $11,045,206.48. The trade was a 0.38% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Trinity Capital Stock Performance

Shares of TRIN traded down $0.25 during mid-day trading on Tuesday, hitting $18.18. The company's stock had a trading volume of 974,222 shares, compared to its average volume of 1,210,888. The stock's 50-day moving average is $17.39 and its two-hundred day moving average is $16.33. The firm has a market capitalization of $1.72 billion, a PE ratio of 9.62 and a beta of 0.61. Trinity Capital Inc. has a one year low of $14.13 and a one year high of $18.46.

Trinity Capital Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Thursday, September 10th will be given a $0.17 dividend. This represents a c) annualized dividend and a yield of 11.2%. The ex-dividend date is Thursday, September 10th. Trinity Capital's dividend payout ratio (DPR) is currently 116.57%.

Hedge Funds Weigh In On Trinity Capital

A number of hedge funds have recently made changes to their positions in the business. Van ECK Associates Corp boosted its position in shares of Trinity Capital by 2.2% during the 4th quarter. Van ECK Associates Corp now owns 1,785,503 shares of the company's stock valued at $26,158,000 after acquiring an additional 39,286 shares in the last quarter. Sound Income Strategies LLC lifted its stake in Trinity Capital by 9.4% during the second quarter. Sound Income Strategies LLC now owns 1,269,744 shares of the company's stock worth $22,716,000 after purchasing an additional 109,291 shares during the period. Melia Wealth LLC lifted its stake in Trinity Capital by 1.2% during the fourth quarter. Melia Wealth LLC now owns 1,193,518 shares of the company's stock worth $17,485,000 after purchasing an additional 14,222 shares during the period. Marshall Wace LLP boosted its holdings in Trinity Capital by 4,587.0% during the third quarter. Marshall Wace LLP now owns 1,151,272 shares of the company's stock valued at $17,822,000 after purchasing an additional 1,126,709 shares in the last quarter. Finally, UBS Group AG grew its stake in shares of Trinity Capital by 28.8% in the 4th quarter. UBS Group AG now owns 1,038,928 shares of the company's stock valued at $15,220,000 after purchasing an additional 232,031 shares during the period. Institutional investors and hedge funds own 24.62% of the company's stock.

Analyst Ratings Changes

TRIN has been the subject of a number of research analyst reports. Wells Fargo & Company upped their price objective on shares of Trinity Capital from $13.50 to $15.00 and gave the company an "underweight" rating in a research report on Thursday, May 7th. Keefe, Bruyette & Woods lifted their target price on 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 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 company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $16.67.

About Trinity Capital

Trinity Capital Corporation NASDAQ: TRIN is a publicly traded business development company that provides flexible financing solutions to venture-backed and growth-stage companies. As a venture lender, Trinity Capital offers customized capital structures, including secured debt and equity co-investment, designed to support companies that have progressed beyond early-stage funding but still require non-dilutive growth capital.

The company focuses its investments on technology-driven sectors such as software, fintech, healthcare, life sciences and cleantech.

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