Sound Income Strategies LLC Purchases 109,291 Shares of Trinity Capital Inc. $TRIN

Sound Income Strategies LLC grew its position in shares of Trinity Capital Inc. (NASDAQ:TRINFree Report) by 9.4% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,269,744 shares of the company’s stock after acquiring an additional 109,291 shares during the quarter. Sound Income Strategies LLC owned 1.41% of Trinity Capital worth $22,716,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in TRIN. Marshall Wace LLP grew its position in Trinity Capital by 4,587.0% in the third quarter. Marshall Wace LLP now owns 1,151,272 shares of the company’s stock valued at $17,822,000 after purchasing an additional 1,126,709 shares in the last quarter. Eagle Point Credit Management LLC acquired a new position in shares of Trinity Capital during the 4th quarter worth about $10,657,000. Two Sigma Investments LP grew its holdings in shares of Trinity Capital by 83.5% in the 3rd quarter. Two Sigma Investments LP now owns 986,184 shares of the company’s stock valued at $15,266,000 after acquiring an additional 448,626 shares in the last quarter. Closed End Fund Advisors Inc. bought a new position in shares of Trinity Capital in the 4th quarter valued at about $5,493,000. Finally, Price T Rowe Associates Inc. MD increased its position in shares of Trinity Capital by 203.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 545,047 shares of the company’s stock valued at $7,986,000 after acquiring an additional 365,193 shares during the last quarter. 24.62% of the stock is owned by institutional investors.

Insider Activity

In other Trinity Capital news, CEO Kyle Steven Brown acquired 2,296 shares of the business’s stock in a transaction dated Friday, August 7th. The stock was bought at an average cost of $18.04 per share, with a total value of $41,419.84. Following the completion of the transaction, the chief executive officer directly owned 612,262 shares in the company, valued at approximately $11,045,206.48. This represents a 0.38% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 4.25% of the stock is currently owned by insiders.

Trinity Capital Stock Performance

Shares of TRIN stock opened at $18.29 on Thursday. Trinity Capital Inc. has a 52-week low of $14.13 and a 52-week high of $18.46. The stock has a market cap of $1.73 billion, a price-to-earnings ratio of 9.68 and a beta of 0.61. The firm’s 50-day moving average is $17.44 and its 200-day moving average is $16.35.

Trinity Capital Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Thursday, September 10th will be paid a $0.17 dividend. The ex-dividend date is Thursday, September 10th. This represents a c) annualized dividend and a yield of 11.2%. Trinity Capital’s dividend payout ratio is currently 116.57%.

Analyst Ratings Changes

Several research analysts recently commented on TRIN shares. Wells Fargo & Company increased their price target on Trinity Capital from $13.50 to $15.00 and gave the company an “underweight” rating in a research report on Thursday, May 7th. Keefe, Bruyette & Woods boosted their price target on Trinity Capital from $16.00 to $16.50 and gave the stock a “market perform” rating in a research report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Trinity Capital presently has a consensus rating of “Moderate Buy” and an average price target of $16.67.

View Our Latest Report on TRIN

Trinity Capital Company Profile

(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.

See Also

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Institutional Ownership by Quarter for Trinity Capital (NASDAQ:TRIN)

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