Trinity Capital (NASDAQ:TRIN) Stock: Insider Kyle Steven Brown Purchases 3,215 Shares

Trinity Capital Inc. (NASDAQ:TRIN) CEO Kyle Brown bought 3,215 shares of the business’s stock in a transaction on Wednesday, November 11th. The stock was purchased at an average price of $18.04 per share, for a total transaction of $57,998.60. Following the purchase, the chief executive officer directly owned 654,878 shares in the company, valued at approximately $11,813,999.12. This represents a 0.49% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Trinity Capital Price Performance

NASDAQ:TRIN traded down $0.17 during trading hours on Friday, reaching $17.70. 702,823 shares of the stock were exchanged, compared to its average volume of 1,122,252. The stock has a market cap of $1.75 billion, a PE ratio of 9.37 and a beta of 0.66. Trinity Capital Inc. has a twelve month low of $14.13 and a twelve month high of $18.90. The firm has a 50 day moving average of $17.35 and a 200 day moving average of $16.76.

Trinity Capital Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Thursday, December 31st. Investors of record on Friday, December 11th will be issued a dividend of $0.17 per share. The ex-dividend date is Friday, December 11th. This represents a $2.04 annualized dividend and a yield of 11.5%. Trinity Capital’s dividend payout ratio is presently 110.27%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Trust Co. of Vermont acquired a new position in shares of Trinity Capital during the 2nd quarter worth approximately $25,000. Burk Holdings LLC acquired a new stake in shares of Trinity Capital in the 2nd quarter valued at approximately $32,000. Fifth Third Bancorp acquired a new stake in shares of Trinity Capital in the 1st quarter valued at approximately $37,000. Sunbelt Securities Inc. acquired a new stake in shares of Trinity Capital in the 1st quarter valued at approximately $37,000. Finally, State of Alaska Department of Revenue acquired a new stake in shares of Trinity Capital in the 3rd quarter valued at approximately $64,000. 24.62% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Keefe, Bruyette & Woods raised their target price on shares of Trinity Capital from $16.50 to $18.00 and gave the company a “market perform” rating in a research report on Thursday, November 5th. Wells Fargo & Company boosted their price target on shares of Trinity Capital from $15.00 to $16.00 and gave the stock an “underweight” rating in a research report on Thursday, November 5th. Finally, B. Riley Financial restated a “buy” rating and set a $20.00 price objective (up from $19.00) on shares of Trinity Capital in a research note on Friday, November 6th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $17.58.

About Trinity Capital

Trinity Capital Inc. is a specialty finance company and business development company that provides debt financing to growth-stage businesses, particularly companies backed by venture capital. It focuses on businesses that may need capital to expand but have limited access to traditional bank financing. The company offers financing solutions including venture debt, equipment loans and leases, and other forms of growth capital. Its borrowers operate in sectors such as technology, life sciences, healthcare, and other innovation-focused industries.