Key Points
- CEO insider buying: Trinity Capital CEO Kyle Steven Brown purchased 2,296 shares at an average price of $18.04, investing $41,419.84 and increasing his stake to 612,262 shares.
- High-yield dividend: The company declared a monthly dividend of $0.17 per share, implying an 11.2% annualized yield; its payout ratio is 116.57%.
- Stock and analyst outlook: TRIN opened at $18.18, near its 12-month high of $18.46, while analysts maintain a “Moderate Buy” consensus with an average price target of $16.67.
Trinity Capital Inc. (NASDAQ:TRIN - Get Free Report) CEO Kyle Steven Brown acquired 2,296 shares of the business's stock in a transaction on Friday, August 7th. The shares were bought at an average cost of $18.04 per share, with a total value 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 approximately $11,045,206.48. This trade represents a 0.38% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
Trinity Capital Stock Performance
TRIN opened at $18.18 on Wednesday. The firm's 50-day simple moving average is $17.41 and its 200-day simple moving average is $16.34. Trinity Capital Inc. has a twelve month low of $14.13 and a twelve month high of $18.46. The firm has a market cap of $1.72 billion, a price-to-earnings ratio of 9.62 and a beta of 0.61.
Trinity Capital Dividend Announcement
The company also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Thursday, September 10th will be given a $0.17 dividend. The ex-dividend date 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 116.57%.
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the business. Nomura Asset Management Co. Ltd. acquired a new position in Trinity Capital during the 4th quarter worth about $25,000. Trust Co. of Vermont acquired a new stake in Trinity Capital in the 2nd quarter valued at about $25,000. Flagship Harbor Advisors LLC acquired a new stake in Trinity Capital in the 4th quarter valued at about $27,000. Sunbelt Securities Inc. bought a new position in shares of Trinity Capital in the first quarter worth about $37,000. Finally, Fifth Third Bancorp bought a new position in shares of Trinity Capital in the first quarter worth about $37,000. 24.62% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of research analysts have recently issued reports on TRIN shares. Keefe, Bruyette & Woods lifted their target price 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. Wells Fargo & Company increased their price target on Trinity Capital from $13.50 to $15.00 and gave the stock an "underweight" rating in a research report 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 assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $16.67.
Get Our Latest Stock Report on TRIN
Trinity Capital Company Profile
(
Get Free Report)
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.
Further Reading
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