Sound Income Strategies LLC Grows Stock Position in Trinity Capital Inc. $TRIN

Sound Income Strategies LLC lifted its holdings in Trinity Capital Inc. (NASDAQ:TRIN) by 22.8% during the 1st quarter, Holdings Channel.com reports. The firm owned 1,160,453 shares of the company’s stock after buying an additional 215,505 shares during the period. Sound Income Strategies LLC’s holdings in Trinity Capital were worth $17,163,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the business. Nomura Asset Management Co. Ltd. bought a new stake in Trinity Capital during the fourth quarter valued at approximately $25,000. Flagship Harbor Advisors LLC bought a new position in Trinity Capital in the fourth quarter worth approximately $27,000. JPMorgan Chase & Co. purchased a new position in shares of Trinity Capital during the 2nd quarter worth $54,000. Allworth Financial LP boosted its stake in shares of Trinity Capital by 54.5% during the 4th quarter. Allworth Financial LP now owns 6,040 shares of the company’s stock worth $88,000 after acquiring an additional 2,131 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its position in shares of Trinity Capital by 8,783.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 6,041 shares of the company’s stock valued at $94,000 after acquiring an additional 5,973 shares during the period. Institutional investors own 24.62% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on TRIN shares. Wall Street Zen upgraded Trinity Capital from a “sell” rating to a “hold” rating in a research note on Sunday, March 29th. Wells Fargo & Company lifted their target price on Trinity Capital from $13.50 to $15.00 and gave the company an “underweight” rating in a research report on Thursday, May 7th. Finally, Keefe, Bruyette & Woods lifted their target price on Trinity Capital from $15.00 to $16.00 and gave the company a “market perform” rating in a research report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $16.64.

Trinity Capital Trading Down 0.6%

Trinity Capital stock opened at $17.79 on Friday. The firm has a 50 day moving average of $16.85 and a 200 day moving average of $15.90. The firm has a market capitalization of $1.60 billion, a price-to-earnings ratio of 9.41 and a beta of 0.61. Trinity Capital Inc. has a 12-month low of $14.11 and a 12-month high of $18.08.

Trinity Capital (NASDAQ:TRIN) last released its earnings results on Wednesday, May 6th. The company reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.01. Trinity Capital had a net margin of 43.45% and a return on equity of 14.94%. The company had revenue of $51.37 million for the quarter, compared to analysts’ expectations of $85.87 million. On average, analysts predict that Trinity Capital Inc. will post 2.1 EPS for the current year.

Trinity Capital Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Thursday, September 10th will be paid a $0.17 dividend. This represents a c) dividend on an annualized basis and a yield of 11.5%. The ex-dividend date is Thursday, September 10th. Trinity Capital’s dividend payout ratio is presently 107.94%.

Trinity Capital Profile

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.