Invesco Ltd. Trims Stake in Trinity Capital Inc. $TRIN

Invesco Ltd. decreased its position in Trinity Capital Inc. (NASDAQ:TRIN) by 13.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 816,465 shares of the company’s stock after selling 128,658 shares during the quarter. Invesco Ltd. owned 1.26% of Trinity Capital worth $12,378,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Chicago Partners Investment Group LLC raised its position in Trinity Capital by 10.3% in the first quarter. Chicago Partners Investment Group LLC now owns 97,396 shares of the company’s stock valued at $1,347,000 after purchasing an additional 9,085 shares during the period. PNC Financial Services Group Inc. purchased a new stake in Trinity Capital in the first quarter valued at approximately $45,000. XTX Topco Ltd purchased a new stake in Trinity Capital in the first quarter valued at approximately $493,000. AWM Capital LLC raised its position in Trinity Capital by 11.1% in the first quarter. AWM Capital LLC now owns 56,273 shares of the company’s stock valued at $882,000 after purchasing an additional 5,630 shares during the period. Finally, Melia Wealth LLC raised its position in Trinity Capital by 0.6% in the first quarter. Melia Wealth LLC now owns 1,103,949 shares of the company’s stock valued at $16,736,000 after purchasing an additional 6,980 shares during the period. Hedge funds and other institutional investors own 24.62% of the company’s stock.

Insider Activity at Trinity Capital

In other Trinity Capital news, CEO Kyle Steven Brown acquired 3,200 shares of the company’s stock in a transaction dated Friday, August 8th. The shares were acquired at an average price of $15.78 per share, for a total transaction of $50,496.00. Following the acquisition, the chief executive officer owned 1,006,300 shares in the company, valued at $15,879,414. The trade was a 0.32% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last quarter, insiders bought 5,900 shares of company stock valued at $89,546. Corporate insiders own 5.31% of the company’s stock.

Analyst Upgrades and Downgrades

TRIN has been the topic of a number of research analyst reports. B. Riley boosted their target price on Trinity Capital from $16.00 to $17.00 and gave the company a “buy” rating in a research report on Thursday, August 7th. Wells Fargo & Company reaffirmed an “underweight” rating and set a $13.50 target price (up from $13.00) on shares of Trinity Capital in a research note on Tuesday, August 12th. UBS Group upped their target price on shares of Trinity Capital from $17.00 to $17.50 and gave the stock a “buy” rating in a research note on Wednesday, July 16th. Finally, Keefe, Bruyette & Woods cut their target price on shares of Trinity Capital from $16.00 to $15.00 and set a “market perform” rating on the stock in a research note on Thursday, May 8th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $15.75.

Trinity Capital Stock Performance

TRIN stock opened at $15.81 on Friday. The company’s 50 day moving average price is $14.89 and its 200 day moving average price is $15.00. Trinity Capital Inc. has a fifty-two week low of $12.50 and a fifty-two week high of $16.82. The firm has a market capitalization of $1.11 billion, a price-to-earnings ratio of 7.09 and a beta of 0.54.

Trinity Capital (NASDAQ:TRIN) last released its earnings results on Wednesday, August 6th. The company reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.01. Trinity Capital had a net margin of 51.88% and a return on equity of 15.72%. The firm had revenue of $69.48 million for the quarter, compared to analyst estimates of $68.84 million. Equities analysts forecast that Trinity Capital Inc. will post 2.06 EPS for the current fiscal year.

Trinity Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were issued a $0.51 dividend. The ex-dividend date was Monday, June 30th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 12.9%. Trinity Capital’s dividend payout ratio is presently 91.48%.

About Trinity Capital

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 the United States.