Sound Income Strategies LLC Buys 109,291 Shares of Trinity Capital Inc. $TRIN

Sound Income Strategies LLC lifted its stake in shares of Trinity Capital Inc. (NASDAQ:TRIN) by 9.4% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 1,269,744 shares of the company’s stock after buying an additional 109,291 shares during the quarter. Sound Income Strategies LLC’s holdings in Trinity Capital were worth $22,716,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Marshall Wace LLP grew its stake in Trinity Capital by 4,587.0% in the 3rd quarter. Marshall Wace LLP now owns 1,151,272 shares of the company’s stock valued at $17,822,000 after buying an additional 1,126,709 shares during the last quarter. Eagle Point Credit Management LLC bought a new position in Trinity Capital in the 4th quarter valued at about $10,657,000. Two Sigma Investments LP lifted its position in Trinity Capital by 83.5% during the third quarter. Two Sigma Investments LP now owns 986,184 shares of the company’s stock worth $15,266,000 after acquiring an additional 448,626 shares during the last quarter. Closed End Fund Advisors Inc. acquired a new stake in Trinity Capital during the fourth quarter worth approximately $5,493,000. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of Trinity Capital by 203.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 545,047 shares of the company’s stock worth $7,986,000 after acquiring an additional 365,193 shares during the period. Institutional investors own 24.62% of the company’s stock.

Trinity Capital Stock Performance

TRIN stock opened at $18.29 on Thursday. Trinity Capital Inc. has a 52 week low of $14.13 and a 52 week high of $18.46. The company has a market capitalization of $1.73 billion, a PE ratio of 9.68 and a beta of 0.61. The company’s 50-day simple moving average is $17.44 and its 200 day simple moving average is $16.35.

Trinity Capital Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Thursday, September 10th will be issued a $0.17 dividend. The ex-dividend date of this dividend is Thursday, September 10th. This represents a c) dividend on an annualized basis and a yield of 11.2%. Trinity Capital’s payout ratio is currently 116.57%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Keefe, Bruyette & Woods upped their target price on Trinity Capital from $16.00 to $16.50 and gave the company a “market perform” rating in a research report on Thursday, August 6th. Wells Fargo & Company boosted their price target on Trinity Capital from $13.50 to $15.00 and gave the company an “underweight” rating in a research note on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $16.67.

Insider Transactions at Trinity Capital

In other Trinity Capital news, CEO Kyle Steven Brown bought 2,296 shares of the firm’s stock in a transaction on Friday, August 7th. The shares were purchased at an average price of $18.04 per share, for a total transaction of $41,419.84. Following the transaction, the chief executive officer directly owned 612,262 shares in the company, valued at approximately $11,045,206.48. This trade represents a 0.38% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 4.25% of the stock is owned by corporate insiders.

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.