Trinity Capital (NASDAQ:TRIN) CEO Kyle Steven Brown Acquires 3,215 Shares of Stock

Trinity Capital Inc. (NASDAQ:TRIN) CEO Kyle Brown acquired 3,215 shares of the firm’s stock in a transaction dated Wednesday, November 11th. The stock was bought at an average price of $18.04 per share, for a total transaction of $57,998.60. Following the completion of the acquisition, the chief executive officer owned 654,878 shares in the company, valued at approximately $11,813,999.12. The trade was a 0.49% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Trinity Capital Price Performance

Shares of NASDAQ:TRIN traded down $0.17 during mid-day trading on Friday, reaching $17.70. 702,823 shares of the company were exchanged, compared to its average volume of 1,122,252. The firm has a market cap of $1.75 billion, a price-to-earnings ratio of 9.37 and a beta of 0.66. The firm’s 50-day simple moving average is $17.35 and its 200 day simple moving average is $16.76. Trinity Capital Inc. has a 1 year low of $14.13 and a 1 year high of $18.90.

Trinity Capital Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Friday, December 11th will be paid a dividend of $0.17 per share. This represents a $2.04 dividend on an annualized basis and a yield of 11.5%. The ex-dividend date is Friday, December 11th. Trinity Capital’s dividend payout ratio is 110.27%.

Analyst Ratings Changes

Several research firms have recently commented on TRIN. Wells Fargo & Company raised their price target on Trinity Capital from $15.00 to $16.00 and gave the stock an “underweight” rating in a research report on Thursday, November 5th. B. Riley Financial reiterated a “buy” rating and issued a $20.00 price objective (up from $19.00) on shares of Trinity Capital in a report on Friday, November 6th. Finally, Keefe, Bruyette & Woods increased their target price on Trinity Capital from $16.50 to $18.00 and gave the stock a “market perform” rating in a research note on Thursday, November 5th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.58.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Kovack Advisors Inc. increased its stake in Trinity Capital by 19.0% during the 3rd quarter. Kovack Advisors Inc. now owns 52,741 shares of the company’s stock worth $926,000 after buying an additional 8,422 shares during the period. State Street Corp lifted its holdings in Trinity Capital by 2.9% during the 3rd quarter. State Street Corp now owns 109,403 shares of the company’s stock worth $1,920,000 after buying an additional 3,032 shares in the last quarter. Advisors Asset Management Inc. purchased a new position in Trinity Capital in the 3rd quarter valued at approximately $6,602,000. Private Advisor Group LLC boosted its position in Trinity Capital by 3.2% in the 3rd quarter. Private Advisor Group LLC now owns 31,651 shares of the company’s stock valued at $555,000 after buying an additional 991 shares during the period. Finally, Global Retirement Partners LLC purchased a new position in Trinity Capital in the 3rd quarter valued at approximately $243,000. Institutional investors and hedge funds own 24.62% of the company’s stock.

About Trinity Capital

Trinity Capital Inc. is a specialty finance company and business development company that provides debt financing to growth-stage businesses, particularly companies backed by venture capital. It focuses on businesses that may need capital to expand but have limited access to traditional bank financing. The company offers financing solutions including venture debt, equipment loans and leases, and other forms of growth capital. Its borrowers operate in sectors such as technology, life sciences, healthcare, and other innovation-focused industries.