374,924 Shares in Trinity Capital Inc. $TRIN Bought by Closed End Fund Advisors Inc.

Closed End Fund Advisors Inc. bought a new position in shares of Trinity Capital Inc. (NASDAQ:TRIN) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 374,924 shares of the company’s stock, valued at approximately $5,493,000. Trinity Capital accounts for about 3.2% of Closed End Fund Advisors Inc.’s portfolio, making the stock its 4th biggest holding. Closed End Fund Advisors Inc. owned about 0.50% of Trinity Capital at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Prevail Innovative Wealth Advisors LLC acquired a new stake in Trinity Capital in the 3rd quarter valued at about $1,959,000. Sound Income Strategies LLC raised its position in Trinity Capital by 58,959.3% in the 4th quarter. Sound Income Strategies LLC now owns 944,948 shares of the company’s stock valued at $15,318,000 after purchasing an additional 943,348 shares in the last quarter. Van ECK Associates Corp raised its position in Trinity Capital by 14.9% in the 3rd quarter. Van ECK Associates Corp now owns 1,746,217 shares of the company’s stock valued at $27,032,000 after purchasing an additional 225,814 shares in the last quarter. UBS Group AG raised its position in Trinity Capital by 28.8% in the 4th quarter. UBS Group AG now owns 1,038,928 shares of the company’s stock valued at $15,220,000 after purchasing an additional 232,031 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. raised its position in Trinity Capital by 18.0% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 317,155 shares of the company’s stock valued at $4,646,000 after purchasing an additional 48,436 shares in the last quarter. Institutional investors own 24.62% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Wells Fargo & Company increased their price target on Trinity Capital from $13.50 to $15.00 and gave the company an “underweight” rating in a research report on Thursday, May 7th. Wall Street Zen raised Trinity Capital from a “sell” rating to a “hold” rating in a research report on Sunday, March 29th. Finally, Keefe, Bruyette & Woods increased their price target 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 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 data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $16.64.

Insider Transactions at Trinity Capital

In other news, CEO Kyle Steven Brown purchased 3,532 shares of the business’s stock in a transaction on Monday, March 16th. The shares were bought at an average price of $14.16 per share, with a total value of $50,013.12. Following the completion of the transaction, the chief executive officer directly owned 620,709 shares in the company, valued at approximately $8,789,239.44. This represents a 0.57% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Steve Louis Brown purchased 27,109 shares of the business’s stock in a transaction on Thursday, March 12th. The shares were purchased at an average cost of $14.75 per share, for a total transaction of $399,857.75. Following the transaction, the chairman owned 940,745 shares of the company’s stock, valued at $13,875,988.75. This trade represents a 2.97% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders bought 34,149 shares of company stock worth $501,294. Company insiders own 5.31% of the company’s stock.

Trinity Capital Stock Performance

TRIN opened at $16.88 on Friday. Trinity Capital Inc. has a one year low of $13.76 and a one year high of $17.38. The company has a market cap of $1.52 billion, a P/E ratio of 8.93 and a beta of 0.62. The business’s 50-day simple moving average is $16.13 and its 200-day simple moving average is $15.59.

Trinity Capital (NASDAQ:TRIN) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.01. Trinity Capital had a return on equity of 14.94% and a net margin of 43.45%.The business had revenue of $51.37 million for the quarter, compared to the consensus estimate of $85.87 million. As a group, analysts predict that Trinity Capital Inc. will post 2.1 earnings per share for the current fiscal year.

Trinity Capital Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Thursday, June 11th will be issued a $0.17 dividend. The ex-dividend date is Thursday, June 11th. This represents a c) dividend on an annualized basis and a dividend yield of 12.1%. 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.