Insider Buying: Trinity Capital (NASDAQ:TRIN) CEO Acquires 6,920 Shares of Stock

Trinity Capital Inc. (NASDAQ:TRIN) CEO Kyle Steven Brown purchased 6,920 shares of the business’s stock in a transaction on Friday, November 7th. The stock was acquired at an average cost of $14.44 per share, with a total value of $99,924.80. Following the completion of the acquisition, the chief executive officer directly owned 997,033 shares in the company, valued at $14,397,156.52. The trade was a 0.70% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Trinity Capital Trading Down 0.4%

TRIN stock traded down $0.06 on Wednesday, hitting $14.88. 116,992 shares of the company’s stock traded hands, compared to its average volume of 691,716. The stock has a market cap of $1.13 billion, a price-to-earnings ratio of 6.79 and a beta of 0.53. Trinity Capital Inc. has a 1-year low of $12.50 and a 1-year high of $16.82. The stock has a fifty day moving average of $15.38 and a 200-day moving average of $15.03.

Trinity Capital (NASDAQ:TRIN) last released its quarterly earnings data on Wednesday, November 5th. The company reported $0.52 earnings per share for the quarter, hitting the consensus estimate of $0.52. The business had revenue of $75.55 million during the quarter, compared to analyst estimates of $74.31 million. Trinity Capital had a return on equity of 15.51% and a net margin of 50.49%. On average, equities research analysts anticipate that Trinity Capital Inc. will post 2.06 earnings per share for the current fiscal year.

Trinity Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were issued a $0.51 dividend. The ex-dividend date was Tuesday, September 30th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 13.7%. Trinity Capital’s dividend payout ratio is presently 93.15%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. B. Riley lifted their target price on Trinity Capital from $16.00 to $17.00 and gave the company a “buy” rating in a research note on Thursday, August 7th. UBS Group cut their price target on Trinity Capital from $18.00 to $17.00 and set a “buy” rating for the company in a research note on Tuesday, October 14th. Finally, Wells Fargo & Company restated an “underweight” rating and issued a $13.50 price objective (up previously from $13.00) on shares of Trinity Capital in a report on Tuesday, August 12th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Trinity Capital has an average rating of “Hold” and a consensus price target of $15.63.

Institutional Investors Weigh In On Trinity Capital

A number of institutional investors have recently added to or reduced their stakes in the company. First Horizon Advisors Inc. acquired a new stake in shares of Trinity Capital during the 2nd quarter worth approximately $32,000. PNC Financial Services Group Inc. acquired a new stake in Trinity Capital during the first quarter worth $45,000. MCF Advisors LLC bought a new stake in Trinity Capital in the 3rd quarter valued at $52,000. Allworth Financial LP acquired a new position in shares of Trinity Capital in the 2nd quarter valued at $53,000. Finally, JPMorgan Chase & Co. bought a new position in shares of Trinity Capital during the 2nd quarter worth about $54,000. 24.62% of the stock is owned by institutional investors and hedge funds.

About Trinity Capital

Trinity Capital Inc is a business development company. It is a venture capital firm specializing in venture debt to growth stage companies looking for loans and/or equipment financing. Trinity Capital Inc was founded in 2019 is based in Phoenix, Arizona with additional offices in the United States.