Closed End Fund Advisors Inc. Makes New Investment in Trinity Capital Inc. $TRIN

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

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

Trinity Capital Trading Down 1.8%

NASDAQ:TRIN opened at $16.88 on Friday. Trinity Capital Inc. has a twelve month low of $13.76 and a twelve month high of $17.38. The company has a 50-day moving average of $16.13 and a 200-day moving average of $15.59. The firm has a market cap of $1.52 billion, a price-to-earnings ratio of 8.93 and a beta of 0.62.

Trinity Capital (NASDAQ:TRIN) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.53 earnings per share for the quarter, beating 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 $51.37 million during the quarter, compared to analyst estimates of $85.87 million. On average, research analysts forecast that Trinity Capital Inc. will post 2.1 earnings per share for the current year.

Trinity Capital Dividend Announcement

The company also recently announced 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 dividend yield of 12.1%. The ex-dividend date is Thursday, June 11th. Trinity Capital’s dividend payout ratio (DPR) is presently 107.94%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on TRIN shares. Wells Fargo & Company raised their price objective on shares of 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 upgraded shares of Trinity Capital from a “sell” rating to a “hold” rating in a research report on Sunday, March 29th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of 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 issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $16.64.

Insider Activity

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

About Trinity Capital

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.