Trinity Capital Inc. (NASDAQ:TRIN) CEO Kyle Steven Brown Acquires 3,200 Shares

Key Points

• Kyle Steven Brown, CEO of Trinity Capital Inc., purchased 3,200 shares at an average price of $15.78, increasing his total holdings to over 1 million shares valued at approximately $15.88 million.
• Trinity Capital reported earnings of $0.53 per share for the last quarter, exceeding analyst estimates, with revenue reaching $69.48 million.
• The company announced a quarterly dividend of $0.51 per share, representing an annualized yield of 12.9% and a payout ratio of 91.48%.

Trinity Capital Inc. (NASDAQ:TRIN - Get Free Report) CEO Kyle Steven Brown acquired 3,200 shares of the stock in a transaction on Friday, August 8th. The stock was bought at an average price of $15.78 per share, with a total value of $50,496.00. Following the transaction, the chief executive officer directly owned 1,006,300 shares of the company's stock, valued at approximately $15,879,414. The trade was a 0.32% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Trinity Capital Price Performance

Shares of TRIN stock traded up $0.12 during mid-day trading on Tuesday, hitting $15.87. 770,641 shares of the stock traded hands, compared to its average volume of 726,649. The stock's fifty day moving average is $14.66 and its two-hundred day moving average is $14.97. Trinity Capital Inc. has a 52-week low of $12.50 and a 52-week high of $16.82. The stock has a market cap of $1.12 billion, a P/E ratio of 7.12 and a beta of 0.54.

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

Trinity Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 12.9%. The ex-dividend date of this dividend was Monday, June 30th. Trinity Capital's dividend payout ratio is presently 91.48%.

Hedge Funds Weigh In On Trinity Capital

Several hedge funds and other institutional investors have recently made changes to their positions in TRIN. LPL Financial LLC lifted its holdings in Trinity Capital by 24.0% in the fourth quarter. LPL Financial LLC now owns 47,230 shares of the company's stock valued at $683,000 after acquiring an additional 9,153 shares during the last quarter. Wells Fargo & Company MN lifted its stake in Trinity Capital by 652.3% during the fourth quarter. Wells Fargo & Company MN now owns 243,414 shares of the company's stock worth $3,522,000 after purchasing an additional 211,060 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Trinity Capital during the fourth quarter worth $708,000. Kennedy Capital Management LLC lifted its stake in Trinity Capital by 0.3% during the fourth quarter. Kennedy Capital Management LLC now owns 220,336 shares of the company's stock worth $3,188,000 after purchasing an additional 676 shares in the last quarter. Finally, Rockefeller Capital Management L.P. lifted its stake in Trinity Capital by 9.3% during the fourth quarter. Rockefeller Capital Management L.P. now owns 843,849 shares of the company's stock worth $12,211,000 after purchasing an additional 71,633 shares in the last quarter. Hedge funds and other institutional investors own 24.62% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on TRIN shares. Keefe, Bruyette & Woods lowered their target price on shares of Trinity Capital from $16.00 to $15.00 and set a "market perform" rating for the company in a report on Thursday, May 8th. B. Riley lifted their price objective 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 shares of Trinity Capital from $17.00 to $17.50 and gave the stock a "buy" rating in a research report on Wednesday, July 16th. Finally, Wells Fargo & Company restated an "underweight" rating and issued a $13.50 price objective (up from $13.00) on shares of Trinity Capital in a research report on Tuesday.

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.

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