Geneos Wealth Management Inc. Purchases New Position in Trinity Capital Inc. $TRIN

Geneos Wealth Management Inc. bought a new position in Trinity Capital Inc. (NASDAQ:TRIN) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 7,102 shares of the company’s stock, valued at approximately $108,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Wealth Enhancement Advisory Services LLC grew its stake in shares of Trinity Capital by 9.0% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 12,173 shares of the company’s stock worth $176,000 after acquiring an additional 1,000 shares during the period. PFG Investments LLC grew its stake in shares of Trinity Capital by 9.9% in the first quarter. PFG Investments LLC now owns 13,204 shares of the company’s stock worth $200,000 after acquiring an additional 1,188 shares during the period. Farther Finance Advisors LLC bought a new stake in Trinity Capital in the 1st quarter worth approximately $38,000. Quarry LP grew its position in Trinity Capital by 194.8% in the 1st quarter. Quarry LP now owns 4,442 shares of the company’s stock worth $67,000 after purchasing an additional 2,935 shares during the period. Finally, PNC Financial Services Group Inc. bought a new stake in Trinity Capital in the 1st quarter worth approximately $45,000. Institutional investors own 24.62% of the company’s stock.

Trinity Capital Trading Up 0.2%

Shares of NASDAQ:TRIN opened at $16.09 on Thursday. The stock has a 50 day moving average of $15.56 and a 200 day moving average of $15.03. The company has a market cap of $1.13 billion, a PE ratio of 7.22 and a beta of 0.54. Trinity Capital Inc. has a 12-month low of $12.50 and a 12-month high of $16.82.

Trinity Capital (NASDAQ:TRIN) last posted its quarterly 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. The business had revenue of $69.48 million during the quarter, compared to analyst estimates of $68.84 million. Trinity Capital had a net margin of 51.88% and a return on equity of 15.72%. Equities research analysts predict that Trinity Capital Inc. will post 2.06 earnings per share for the current fiscal year.

Trinity Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 12.7%. Trinity Capital’s dividend payout ratio (DPR) is 91.48%.

Insider Transactions at Trinity Capital

In other Trinity Capital news, Director Ronald E. Estes acquired 2,000 shares of the company’s stock in a transaction dated Thursday, September 11th. The stock was purchased at an average price of $16.07 per share, with a total value of $32,140.00. Following the completion of the purchase, the director directly owned 35,779 shares in the company, valued at approximately $574,968.53. The trade was a 5.92% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Kyle Steven Brown purchased 3,200 shares of the company’s stock in a transaction on Friday, August 8th. The stock was acquired at an average price of $15.78 per share, with a total value of $50,496.00. Following the completion of the purchase, the chief executive officer directly owned 1,006,300 shares in the company, valued at $15,879,414. This trade represents a 0.32% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 7,200 shares of company stock valued at $114,856. Corporate insiders own 5.31% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Wells Fargo & Company reaffirmed an “underweight” rating and issued a $13.50 price objective (up previously from $13.00) on shares of Trinity Capital in a report on Tuesday, August 12th. B. Riley boosted their price target on Trinity Capital from $16.00 to $17.00 and gave the company a “buy” rating in a research note on Thursday, August 7th. Finally, UBS Group boosted their price target on Trinity Capital from $17.00 to $17.50 and gave the company a “buy” rating in a research note on Wednesday, July 16th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $15.75.

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.