Canton Hathaway LLC Grows Position in Trinity Capital Inc. $TRIN

Canton Hathaway LLC raised its position in Trinity Capital Inc. (NASDAQ:TRIN) by 1.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 96,571 shares of the company’s stock after purchasing an additional 1,315 shares during the quarter. Canton Hathaway LLC’s holdings in Trinity Capital were worth $1,359,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TRIN. Wealth Enhancement Advisory Services LLC increased its position in Trinity Capital by 10.7% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 13,478 shares of the company’s stock worth $204,000 after purchasing an additional 1,305 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in Trinity Capital by 36.0% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,000 shares of the company’s stock worth $222,000 after purchasing an additional 3,706 shares in the last quarter. D.A. Davidson & CO. acquired a new stake in Trinity Capital during the 1st quarter worth approximately $160,000. Envestnet Asset Management Inc. increased its position in Trinity Capital by 9.4% during the 1st quarter. Envestnet Asset Management Inc. now owns 54,278 shares of the company’s stock worth $823,000 after purchasing an additional 4,656 shares in the last quarter. Finally, M&T Bank Corp acquired a new stake in Trinity Capital during the 1st quarter worth approximately $182,000. Institutional investors and hedge funds own 24.62% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on TRIN. UBS Group dropped their target price on shares of Trinity Capital from $18.00 to $17.00 and set a “buy” rating for the company in a research report on Tuesday, October 14th. Wells Fargo & Company reiterated an “underweight” rating and set a $13.50 target price (up from $13.00) on shares of Trinity Capital in a report on Tuesday, August 12th. Finally, B. Riley raised their target price on Trinity Capital from $16.00 to $17.00 and gave the company a “buy” rating in a report on Thursday, August 7th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $15.63.

Trinity Capital Stock Performance

Shares of NASDAQ:TRIN opened at $15.03 on Friday. The company has a market cap of $1.06 billion, a P/E ratio of 6.74 and a beta of 0.53. Trinity Capital Inc. has a one year low of $12.50 and a one year high of $16.82. The business’s 50-day simple moving average is $15.58 and its 200 day simple moving average is $15.00.

Trinity Capital (NASDAQ:TRIN) last announced its earnings results on Wednesday, August 6th. The company reported $0.53 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 business had revenue of $69.48 million for the quarter, compared to the consensus estimate of $68.84 million. Analysts predict that Trinity Capital Inc. will post 2.06 earnings per share for the current year.

Trinity Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 13.6%. The ex-dividend date was Tuesday, September 30th. Trinity Capital’s dividend payout ratio is 91.48%.

Insider Activity at Trinity Capital

In other Trinity Capital news, Director Ronald E. Estes bought 2,000 shares of Trinity Capital stock in a transaction dated Thursday, September 11th. The stock was bought at an average cost of $16.07 per share, for a total transaction of $32,140.00. Following the purchase, the director owned 35,779 shares in the company, valued at $574,968.53. This represents a 5.92% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Kyle Steven Brown bought 3,200 shares of Trinity Capital stock in a transaction dated Friday, August 8th. The shares were acquired at an average price of $15.78 per share, with a total value of $50,496.00. Following the completion of the purchase, the chief executive officer owned 1,006,300 shares in the company, valued at approximately $15,879,414. The trade was a 0.32% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders have bought 7,200 shares of company stock valued at $114,856. Company insiders own 5.31% of the company’s stock.

Trinity Capital 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.