Trinity Capital Inc. $TRIN Shares Sold by Sound Income Strategies LLC

Sound Income Strategies LLC reduced its holdings in Trinity Capital Inc. (NASDAQ:TRIN – Free Report) by 10.9% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 1,131,116 shares of the company’s stock after selling 138,628 shares during the quarter. Sound Income Strategies LLC’s holdings in Trinity Capital were worth $19,410,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Trust Co. of Vermont acquired a new position in shares of Trinity Capital during the second quarter worth $25,000. Burk Holdings LLC bought a new position in Trinity Capital during the 2nd quarter worth $32,000. Sunbelt Securities Inc. bought a new position in Trinity Capital during the 1st quarter worth $37,000. Fifth Third Bancorp acquired a new position in Trinity Capital during the 1st quarter worth about $37,000. Finally, Allworth Financial LP acquired a new position in Trinity Capital during the 2nd quarter worth about $158,000. Institutional investors own 24.62% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods increased their price target on Trinity Capital from $16.00 to $16.50 and gave the company a “market perform” rating in a research note on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Trinity Capital currently has an average rating of “Moderate Buy” and a consensus target price of $16.67.

Get Our Latest Stock Analysis on Trinity Capital

Insiders Place Their Bets

In other Trinity Capital news, CEO Kyle Brown purchased 2,296 shares of the company’s stock in a transaction on Friday, August 7th. The shares were purchased at an average cost of $18.04 per share, with a total value of $41,419.84. Following the completion of the purchase, the chief executive officer owned 612,262 shares in the company, valued at $11,045,206.48. This represents a 0.38% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 4.25% of the company’s stock.

Trinity Capital Stock Down 0.4%

Trinity Capital stock traded down $0.07 during mid-day trading on Friday, hitting $17.09. 777,218 shares of the stock were exchanged, compared to its average volume of 1,138,037. The stock has a market capitalization of $1.62 billion, a price-to-earnings ratio of 9.05 and a beta of 0.63. Trinity Capital Inc. has a 12 month low of $14.13 and a 12 month high of $18.90. The firm’s fifty day simple moving average is $17.96 and its two-hundred day simple moving average is $17.08.

Trinity Capital (NASDAQ:TRIN – Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.01). Trinity Capital had a return on equity of 14.94% and a net margin of 43.45%. The firm had revenue of $87.17 million for the quarter, compared to analyst estimates of $91.44 million. As a group, analysts forecast that Trinity Capital Inc. will post 2.10 earnings per share for the current fiscal year.

Trinity Capital Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Thursday, December 31st. Investors of record on Friday, December 11th will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, December 11th. This represents a $2.04 annualized dividend and a yield of 11.9%. Trinity Capital’s dividend payout ratio (DPR) is currently 116.57%.

About Trinity Capital

(Free Report)

Trinity Capital Inc is a business development company that provides debt financing to venture capital- and private equity-backed companies, primarily those in the growth stage of their development. The company seeks to support businesses that may not yet have consistent access to traditional bank financing.

Its offerings include venture debt, term loans, equipment financing and other structured lending solutions designed to fund product development, capital expenditures, acquisitions, working capital and general corporate purposes.

Further Reading

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

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