Rockefeller Capital Management L.P. Raises Position in Trinity Capital Inc. $TRIN

Rockefeller Capital Management L.P. grew its position in shares of Trinity Capital Inc. (NASDAQ:TRIN) by 1.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 895,784 shares of the company’s stock after buying an additional 16,646 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Trinity Capital were worth $12,604,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Allworth Financial LP bought a new stake in shares of Trinity Capital in the 2nd quarter worth $53,000. First Horizon Advisors Inc. bought a new stake in Trinity Capital in the 2nd quarter worth about $32,000. Canton Hathaway LLC raised its position in Trinity Capital by 1.4% in the 2nd quarter. Canton Hathaway LLC now owns 96,571 shares of the company’s stock worth $1,359,000 after buying an additional 1,315 shares during the last quarter. Emerald Advisers LLC raised its position in Trinity Capital by 3.9% in the 2nd quarter. Emerald Advisers LLC now owns 829,710 shares of the company’s stock worth $11,674,000 after buying an additional 30,949 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new stake in shares of Trinity Capital during the 2nd quarter valued at about $2,136,000. 24.62% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on TRIN shares. B. Riley increased their price objective on shares of Trinity Capital from $16.00 to $17.00 and gave the company a “buy” rating in a research report on Thursday, August 7th. Wells Fargo & Company reissued an “underweight” rating and set a $13.50 price target (up from $13.00) on shares of Trinity Capital in a report on Tuesday, August 12th. Finally, UBS Group cut their price objective on Trinity Capital from $18.00 to $17.00 and set a “buy” rating for the company in a report on Tuesday, October 14th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $15.63.

Trinity Capital Trading Down 1.6%

TRIN opened at $14.38 on Thursday. The firm’s 50 day simple moving average is $15.20 and its two-hundred day simple moving average is $15.03. The company has a market capitalization of $1.09 billion, a PE ratio of 6.57 and a beta of 0.53. Trinity Capital Inc. has a 1-year low of $12.50 and a 1-year high of $16.82.

Trinity Capital (NASDAQ:TRIN) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $0.52 EPS for the quarter, hitting the consensus estimate of $0.52. The firm had revenue of $75.55 million during the quarter, compared to analyst estimates of $74.31 million. Trinity Capital had a return on equity of 15.51% and a net margin of 50.49%. Equities analysts forecast that Trinity Capital Inc. will post 2.06 earnings per share for the current fiscal year.

Trinity Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were paid a $0.51 dividend. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $2.04 annualized dividend and a dividend yield of 14.2%. Trinity Capital’s dividend payout ratio (DPR) is 93.15%.

Insider Activity

In related news, CEO Kyle Steven Brown acquired 6,920 shares of the business’s stock in a transaction that occurred on Friday, November 7th. The stock was bought at an average cost of $14.44 per share, for a total transaction of $99,924.80. Following the purchase, the chief executive officer owned 997,033 shares in the company, valued at $14,397,156.52. The trade was a 0.70% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Steve Louis Brown bought 4,500 shares of the firm’s stock in a transaction on Friday, November 7th. The shares were purchased at an average price of $14.42 per share, for a total transaction of $64,890.00. Following the purchase, the chairman owned 818,466 shares in the company, valued at $11,802,279.72. This trade represents a 0.55% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased a total of 19,020 shares of company stock valued at $281,095 in the last ninety days. Corporate insiders own 5.31% of the company’s stock.

Trinity Capital Profile

Trinity Capital Inc is a business development company. It is a venture capital firm specializing in venture debt to growth stage companies looking for loans and/or equipment financing. Trinity Capital Inc was founded in 2019 is based in Phoenix, Arizona with additional offices in the United States.