Trinity Capital (NASDAQ:TRIN) CEO Buys 2,296 Shares

Trinity Capital Inc. (NASDAQ:TRIN) CEO Kyle Steven Brown acquired 2,296 shares of the company’s stock in a transaction on Friday, August 7th. The shares were bought at an average price of $18.04 per share, with a total value of $41,419.84. Following the completion of the purchase, the chief executive officer directly owned 612,262 shares of the company’s stock, valued at approximately $11,045,206.48. This represents a 0.38% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Trinity Capital Stock Performance

Shares of NASDAQ TRIN traded down $0.25 during midday trading on Tuesday, reaching $18.18. 974,222 shares of the company traded hands, compared to its average volume of 1,210,888. Trinity Capital Inc. has a 12 month low of $14.13 and a 12 month high of $18.46. The stock’s 50-day simple moving average is $17.39 and its 200-day simple moving average is $16.33. The firm has a market cap of $1.72 billion, a PE ratio of 9.62 and a beta of 0.61.

Trinity Capital Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Investors of record on Thursday, September 10th will be given a dividend of $0.17 per share. The ex-dividend date is Thursday, September 10th. This represents a c) dividend on an annualized basis and a dividend yield of 11.2%. Trinity Capital’s dividend payout ratio (DPR) is 116.57%.

Institutional Trading of Trinity Capital

Several large investors have recently made changes to their positions in the business. Denali Advisors LLC bought a new position in shares of Trinity Capital in the second quarter valued at about $1,379,000. BlackRock Inc. bought a new stake in Trinity Capital during the 2nd quarter worth about $5,134,000. Trust Co. of Vermont acquired a new stake in Trinity Capital in the 2nd quarter valued at about $25,000. Uniting Wealth Partners LLC acquired a new stake in Trinity Capital in the 2nd quarter valued at about $930,000. Finally, GSA Capital Partners LLP acquired a new stake in Trinity Capital in the 2nd quarter valued at about $1,121,000. Institutional investors own 24.62% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on TRIN. Wells Fargo & Company boosted their price target on shares of 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 raised their price objective on shares of Trinity Capital from $16.00 to $16.50 and gave the stock a “market perform” rating in a report 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 assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.67.

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.