Confluence Investment Management LLC Grows Stock Holdings in Trinity Capital Inc. (OTCMKTS:TRIN)

Confluence Investment Management LLC lifted its holdings in Trinity Capital Inc. (OTCMKTS:TRINGet Rating) by 76.3% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 113,445 shares of the company’s stock after purchasing an additional 49,087 shares during the period. Confluence Investment Management LLC owned about 0.30% of Trinity Capital worth $1,642,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. Clearbridge Investments LLC lifted its position in shares of Trinity Capital by 9.3% in the 1st quarter. Clearbridge Investments LLC now owns 888,427 shares of the company’s stock worth $17,156,000 after purchasing an additional 75,498 shares during the period. Alliancebernstein L.P. lifted its position in shares of Trinity Capital by 15.5% in the 4th quarter. Alliancebernstein L.P. now owns 668,693 shares of the company’s stock worth $11,756,000 after purchasing an additional 89,771 shares during the period. Rockefeller Capital Management L.P. lifted its position in shares of Trinity Capital by 4.2% in the 4th quarter. Rockefeller Capital Management L.P. now owns 660,494 shares of the company’s stock worth $11,611,000 after purchasing an additional 26,867 shares during the period. Emerald Advisers LLC raised its stake in shares of Trinity Capital by 11.2% during the 1st quarter. Emerald Advisers LLC now owns 624,793 shares of the company’s stock worth $12,065,000 after acquiring an additional 62,908 shares in the last quarter. Finally, Callodine Capital Management LP raised its stake in shares of Trinity Capital by 12.4% during the 4th quarter. Callodine Capital Management LP now owns 606,852 shares of the company’s stock worth $10,668,000 after acquiring an additional 66,852 shares in the last quarter. Hedge funds and other institutional investors own 28.53% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on TRIN. B. Riley began coverage on shares of Trinity Capital in a research note on Friday. They set a “buy” rating for the company. Wells Fargo & Company lowered shares of Trinity Capital from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $16.00 to $14.50 in a research note on Monday, July 25th.

Trinity Capital Stock Up 2.2 %

TRIN stock opened at $15.29 on Friday. The firm’s fifty day simple moving average is $14.91 and its 200-day simple moving average is $16.12. The company has a market capitalization of $480.26 million, a P/E ratio of 8.31 and a beta of 0.65. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.07 and a quick ratio of 0.07. Trinity Capital Inc. has a 12 month low of $13.81 and a 12 month high of $20.26.

Trinity Capital (OTCMKTS:TRINGet Rating) last released its quarterly earnings data on Thursday, August 4th. The company reported $0.48 EPS for the quarter, beating the consensus estimate of $0.45 by $0.03. The business had revenue of $33.46 million for the quarter, compared to the consensus estimate of $29.24 million. Trinity Capital had a net margin of 59.17% and a return on equity of 12.27%. As a group, equities research analysts forecast that Trinity Capital Inc. will post 2.08 earnings per share for the current year.

Insider Activity

In other news, CEO Steve Louis Brown purchased 24,835 shares of the stock in a transaction that occurred on Tuesday, August 9th. The shares were purchased at an average cost of $15.75 per share, with a total value of $391,151.25. Following the completion of the acquisition, the chief executive officer now owns 439,546 shares of the company’s stock, valued at approximately $6,922,849.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Kyle Steven Brown acquired 6,060 shares of the firm’s stock in a transaction on Monday, August 8th. The shares were acquired at an average cost of $15.76 per share, with a total value of $95,505.60. Following the completion of the acquisition, the insider now directly owns 16,237 shares in the company, valued at approximately $255,895.12. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Steve Louis Brown acquired 24,835 shares of the firm’s stock in a transaction on Tuesday, August 9th. The shares were bought at an average cost of $15.75 per share, for a total transaction of $391,151.25. Following the completion of the acquisition, the chief executive officer now owns 439,546 shares of the company’s stock, valued at $6,922,849.50. The disclosure for this purchase can be found here. Insiders have acquired 34,152 shares of company stock valued at $536,587 in the last ninety days. Insiders own 6.90% of the company’s stock.

About Trinity Capital

(Get Rating)

Trinity Capital Inc is a business development company. It is a venture capital firm specializing in venture debt to growth stage companies looking for loans and/or equipment financing. Trinity Capital Inc was founded in 2019 is based in Phoenix, Arizona with additional offices in Lutherville-Timonium, Maryland, San Diego, California and Austin, Texas.

Featured Stories

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

Receive News & Ratings for Trinity Capital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Trinity Capital and related companies with MarketBeat.com's FREE daily email newsletter.