Sound Income Strategies LLC raised its position in shares of Trinity Capital Inc. (NASDAQ:TRIN – Free Report) by 22.8% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,160,453 shares of the company’s stock after purchasing an additional 215,505 shares during the quarter. Sound Income Strategies LLC owned 1.40% of Trinity Capital worth $17,163,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Nomura Asset Management Co. Ltd. bought a new position in shares of Trinity Capital in the fourth quarter worth approximately $25,000. Flagship Harbor Advisors LLC bought a new stake in shares of Trinity Capital during the fourth quarter valued at approximately $27,000. JPMorgan Chase & Co. bought a new stake in shares of Trinity Capital during the second quarter valued at approximately $54,000. Allworth Financial LP increased its position in shares of Trinity Capital by 54.5% during the fourth quarter. Allworth Financial LP now owns 6,040 shares of the company’s stock valued at $88,000 after acquiring an additional 2,131 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in Trinity Capital by 8,783.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 6,041 shares of the company’s stock worth $94,000 after acquiring an additional 5,973 shares during the last quarter. 24.62% of the stock is currently owned by institutional investors.
Trinity Capital Stock Down 0.6%
Shares of TRIN stock opened at $17.79 on Friday. The company has a 50 day moving average price of $16.85 and a 200-day moving average price of $15.90. Trinity Capital Inc. has a 52 week low of $14.11 and a 52 week high of $18.08. The firm has a market capitalization of $1.60 billion, a PE ratio of 9.41 and a beta of 0.61.
Trinity Capital Dividend Announcement
The company also recently disclosed a monthly dividend, which will be paid on Wednesday, September 30th. Investors of record on Thursday, September 10th will be issued a $0.17 dividend. The ex-dividend date of this dividend is Thursday, September 10th. This represents a c) annualized dividend and a dividend yield of 11.5%. Trinity Capital’s payout ratio is presently 107.94%.
Analyst Ratings Changes
Several equities analysts recently issued reports on TRIN shares. Wall Street Zen raised Trinity Capital from a “sell” rating to a “hold” rating in a research report on Sunday, March 29th. Keefe, Bruyette & Woods lifted their target price on Trinity Capital from $15.00 to $16.00 and gave the stock a “market perform” rating in a report on Thursday, May 7th. Finally, Wells Fargo & Company boosted their price target on Trinity Capital from $13.50 to $15.00 and gave the stock an “underweight” rating in a research note 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’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $16.64.
Read Our Latest Analysis on TRIN
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.
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