Kyle Steven Brown Purchases 6,920 Shares of Trinity Capital (NASDAQ:TRIN) Stock

Trinity Capital Inc. (NASDAQ:TRIN) CEO Kyle Steven Brown purchased 6,920 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The shares were bought at an average cost of $14.44 per share, with a total value of $99,924.80. Following the transaction, the chief executive officer directly owned 997,033 shares of the company’s stock, valued at $14,397,156.52. The trade was a 0.70% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website.

Trinity Capital Stock Down 1.1%

Shares of TRIN opened at $14.76 on Friday. Trinity Capital Inc. has a fifty-two week low of $12.50 and a fifty-two week high of $16.82. The company’s fifty day moving average is $15.33 and its two-hundred day moving average is $15.03. The firm has a market cap of $1.12 billion, a PE ratio of 6.74 and a beta of 0.53.

Trinity Capital (NASDAQ:TRIN) last issued its earnings results on Wednesday, November 5th. The company reported $0.52 earnings per share for the quarter, hitting the consensus estimate of $0.52. Trinity Capital had a return on equity of 15.51% and a net margin of 50.49%.The business had revenue of $75.55 million for the quarter, compared to analyst estimates of $74.31 million. As a group, equities research analysts anticipate that Trinity Capital Inc. will post 2.06 earnings per share for the current year.

Trinity Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were paid a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 13.8%. The ex-dividend date of this dividend was Tuesday, September 30th. Trinity Capital’s payout ratio is currently 93.15%.

Analyst Upgrades and Downgrades

TRIN has been the subject of a number of research analyst reports. 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 price objective (up from $13.00) on shares of Trinity Capital in a research note on Tuesday, August 12th. Finally, B. Riley raised their target price on shares of Trinity Capital from $16.00 to $17.00 and gave the company a “buy” rating in a research note on Thursday, August 7th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $15.63.

Institutional Trading of Trinity Capital

A number of hedge funds and other institutional investors have recently modified their holdings of TRIN. First Horizon Advisors Inc. purchased a new position in Trinity Capital in the second quarter valued at about $32,000. PNC Financial Services Group Inc. acquired a new position in shares of Trinity Capital in the 1st quarter valued at approximately $45,000. MCF Advisors LLC purchased a new position in shares of Trinity Capital during the 3rd quarter valued at approximately $52,000. Allworth Financial LP acquired 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 in the second quarter worth $54,000. 24.62% of the stock is owned by hedge funds and other institutional investors.

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.