Sei Investments Co. boosted its holdings in Trinity Capital Inc. (NASDAQ:TRIN – Free Report) by 100.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 64,244 shares of the company’s stock after acquiring an additional 32,122 shares during the period. Sei Investments Co.’s holdings in Trinity Capital were worth $945,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in TRIN. Cetera Investment Advisers increased its stake in Trinity Capital by 4.5% during the first quarter. Cetera Investment Advisers now owns 79,711 shares of the company’s stock worth $1,173,000 after acquiring an additional 3,460 shares during the last quarter. Independent Financial Group LLC acquired a new position in shares of Trinity Capital in the 1st quarter valued at $933,000. D.A. Davidson & CO. lifted its stake in shares of Trinity Capital by 30.7% in the 1st quarter. D.A. Davidson & CO. now owns 38,410 shares of the company’s stock valued at $565,000 after purchasing an additional 9,011 shares during the last quarter. Geneos Wealth Management Inc. grew its holdings in shares of Trinity Capital by 6.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 17,312 shares of the company’s stock worth $255,000 after purchasing an additional 1,079 shares during the period. Finally, Sanctuary Advisors LLC grew its holdings in shares of Trinity Capital by 138.0% during the 1st quarter. Sanctuary Advisors LLC now owns 55,847 shares of the company’s stock worth $822,000 after purchasing an additional 32,385 shares during the period. 24.62% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity
In related news, CEO Kyle Steven Brown acquired 2,296 shares of the firm’s stock in a transaction dated Friday, August 7th. The stock was acquired at an average price of $18.04 per share, for a total transaction of $41,419.84. Following the purchase, the chief executive officer owned 612,262 shares of the company’s stock, valued at $11,045,206.48. This represents a 0.38% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 4.25% of the company’s stock.
Trinity Capital Trading Up 0.5%
Trinity Capital Announces Dividend
The business also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Thursday, September 10th will be given a $0.17 dividend. The ex-dividend date of this dividend is Thursday, September 10th. This represents a c) dividend on an annualized basis and a yield of 11.2%. Trinity Capital’s dividend payout ratio (DPR) is currently 116.57%.
Analysts Set New Price Targets
A number of analysts recently issued reports on the company. Wells Fargo & Company raised their price objective on Trinity Capital from $13.50 to $15.00 and gave the stock an “underweight” rating in a research report on Thursday, May 7th. Keefe, Bruyette & Woods increased their target price on shares of Trinity Capital from $16.00 to $16.50 and gave the stock a “market perform” rating in a research note on Thursday, August 6th. One equities 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 company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.67.
Get Our Latest Research Report on Trinity Capital
Trinity Capital Profile
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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