Stock Traders Purchase High Volume of Trinity Capital Put Options (NASDAQ:TRIN)

Trinity Capital Inc. (NASDAQ:TRIN) saw unusually large options trading activity on Monday. Stock traders acquired 3,038 put options on the company. This is an increase of 490% compared to the average daily volume of 515 put options.

Hedge Funds Weigh In On Trinity Capital

Several hedge funds have recently modified their holdings of TRIN. Nomura Asset Management Co. Ltd. acquired a new stake in Trinity Capital in the 4th quarter worth approximately $25,000. Flagship Harbor Advisors LLC acquired a new stake in shares of Trinity Capital during the fourth quarter worth $27,000. First Horizon Advisors Inc. purchased a new stake in shares of Trinity Capital during the second quarter valued at $32,000. MCF Advisors LLC purchased a new stake in shares of Trinity Capital during the third quarter valued at $52,000. Finally, Allworth Financial LP acquired a new position in shares of Trinity Capital in the 2nd quarter valued at $53,000. Institutional investors and hedge funds own 24.62% of the company’s stock.

Trinity Capital Stock Performance

TRIN traded down $0.29 during trading on Monday, hitting $14.69. The stock had a trading volume of 659,787 shares, compared to its average volume of 1,262,150. The stock has a 50 day simple moving average of $15.75 and a two-hundred day simple moving average of $15.49. Trinity Capital has a twelve month low of $12.50 and a twelve month high of $17.20. The company has a market capitalization of $1.11 billion, a PE ratio of 6.68 and a beta of 0.53.

Trinity Capital Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th will be issued a $0.17 dividend. This represents a c) annualized dividend and a yield of 13.9%. The ex-dividend date of this dividend is Friday, March 13th. Trinity Capital’s dividend payout ratio (DPR) is currently 93.15%.

Wall Street Analyst Weigh In

TRIN has been the subject of several recent research reports. Capital One Financial set a $17.00 price target on shares of Trinity Capital in a report on Thursday, December 11th. Citigroup reissued an “outperform” rating on shares of Trinity Capital in a research note on Tuesday, January 27th. Loop Capital set a $17.00 target price on Trinity Capital in a research report on Thursday, December 11th. Noble Financial started coverage on Trinity Capital in a report on Thursday, December 11th. They issued a “buy” rating on the stock. Finally, Clear Str raised Trinity Capital to a “strong-buy” rating in a research report on Wednesday, February 4th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $16.29.

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.