Faithward Advisors LLC Cuts Stake in Trinity Capital Inc. $TRIN

Faithward Advisors LLC lowered its position in shares of Trinity Capital Inc. (NASDAQ:TRIN) by 22.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 195,040 shares of the company’s stock after selling 57,190 shares during the period. Faithward Advisors LLC owned about 0.26% of Trinity Capital worth $2,857,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in TRIN. Marshall Wace LLP increased its stake in shares of Trinity Capital by 4,587.0% during the third quarter. Marshall Wace LLP now owns 1,151,272 shares of the company’s stock valued at $17,822,000 after buying an additional 1,126,709 shares during the period. Sound Income Strategies LLC increased its stake in shares of Trinity Capital by 58,959.3% during the fourth quarter. Sound Income Strategies LLC now owns 944,948 shares of the company’s stock valued at $15,318,000 after buying an additional 943,348 shares during the period. Eagle Point Credit Management LLC purchased a new position in shares of Trinity Capital during the fourth quarter valued at $10,657,000. Two Sigma Investments LP grew its stake in Trinity Capital by 83.5% in the third quarter. Two Sigma Investments LP now owns 986,184 shares of the company’s stock valued at $15,266,000 after purchasing an additional 448,626 shares during the last quarter. Finally, Closed End Fund Advisors Inc. purchased a new position in Trinity Capital in the fourth quarter valued at about $5,493,000. Hedge funds and other institutional investors own 24.62% of the company’s stock.

Trinity Capital Price Performance

TRIN opened at $16.89 on Tuesday. The business’s 50-day moving average is $16.40 and its two-hundred day moving average is $15.70. Trinity Capital Inc. has a 1 year low of $13.76 and a 1 year high of $17.38. The firm has a market capitalization of $1.52 billion, a PE ratio of 8.94 and a beta of 0.62.

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

Trinity Capital Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Thursday, June 11th will be issued a $0.17 dividend. This represents a c) annualized dividend and a yield of 12.1%. The ex-dividend date of this dividend is Thursday, June 11th. Trinity Capital’s dividend payout ratio (DPR) is currently 107.94%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on TRIN shares. Wells Fargo & Company lifted their target price on Trinity Capital from $13.50 to $15.00 and gave the company an “underweight” rating in a research note on Thursday, May 7th. Wall Street Zen upgraded Trinity Capital from a “sell” rating to a “hold” rating in a research note on Sunday, March 29th. Finally, Keefe, Bruyette & Woods lifted their target price on Trinity Capital from $15.00 to $16.00 and gave the company a “market perform” rating in a research note on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Trinity Capital currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.64.

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.