Man Group plc Invests $595,000 in Trinity Capital Inc. $TRIN

Man Group plc purchased a new position in shares of Trinity Capital Inc. (NASDAQ:TRIN) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 33,235 shares of the company’s stock, valued at approximately $595,000.

Other hedge funds have also added to or reduced their stakes in the company. Visionary Wealth Advisors bought a new stake in Trinity Capital during the second quarter worth $205,000. Sanctuary Advisors LLC bought a new position in shares of Trinity Capital in the 2nd quarter valued at $1,664,000. Burk Holdings LLC acquired a new position in shares of Trinity Capital during the 2nd quarter worth $32,000. Quantbot Technologies LP bought a new stake in shares of Trinity Capital during the 2nd quarter worth $973,000. Finally, Allworth Financial LP bought a new position in Trinity Capital in the second quarter valued at about $158,000. 24.62% of the stock is owned by institutional investors.

Insider Activity

In related news, CEO Kyle Brown purchased 2,296 shares of the firm’s stock in a transaction that occurred on Friday, August 7th. The stock was acquired at an average price of $18.04 per share, for a total transaction of $41,419.84. Following the completion of the acquisition, the chief executive officer owned 612,262 shares of the company’s stock, valued at $11,045,206.48. This represents a 0.38% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.25% of the stock is currently owned by insiders.

Trinity Capital Price Performance

Shares of TRIN opened at $18.36 on Friday. The business has a 50-day moving average of $17.92 and a 200-day moving average of $16.58. The company has a market capitalization of $1.74 billion, a price-to-earnings ratio of 9.71 and a beta of 0.61. Trinity Capital Inc. has a 1 year low of $14.13 and a 1 year high of $18.90.

Trinity Capital (NASDAQ:TRIN) last announced its earnings results on Wednesday, August 5th. The company reported $0.51 EPS for the quarter, missing the consensus estimate 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 $87.17 million during the quarter, compared to the consensus estimate of $91.44 million. As a group, sell-side analysts anticipate that Trinity Capital Inc. will post 2.1 EPS for the current year.

Trinity Capital Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Investors of record on Thursday, September 10th will be given a $0.17 dividend. The ex-dividend date of this dividend is Thursday, September 10th. This represents a c) annualized dividend and a yield of 11.1%. Trinity Capital’s dividend payout ratio (DPR) is presently 116.57%.

Analysts Set New Price Targets

TRIN has been the subject of several research analyst reports. Wells Fargo & Company boosted their target price on Trinity Capital from $13.50 to $15.00 and gave the stock an “underweight” rating in a research note on Thursday, May 7th. Keefe, Bruyette & Woods increased their price objective on shares of Trinity Capital from $16.00 to $16.50 and gave the company a “market perform” rating in a research note on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $16.67.

Trinity Capital Company 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.