D.A. Davidson & CO. Raises Stock Holdings in Trinity Capital Inc. $TRIN

D.A. Davidson & CO. boosted its stake in Trinity Capital Inc. (NASDAQ:TRIN) by 95.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 20,590 shares of the company’s stock after buying an additional 10,052 shares during the period. D.A. Davidson & CO.’s holdings in Trinity Capital were worth $290,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Melia Wealth LLC grew its position in Trinity Capital by 4.1% in the 2nd quarter. Melia Wealth LLC now owns 1,148,936 shares of the company’s stock valued at $16,166,000 after acquiring an additional 44,987 shares in the last quarter. Round Rock Advisors LLC boosted its holdings in Trinity Capital by 178.2% in the first quarter. Round Rock Advisors LLC now owns 532,931 shares of the company’s stock valued at $8,079,000 after purchasing an additional 341,343 shares in the last quarter. LPL Financial LLC boosted its holdings in Trinity Capital by 689.7% in the first quarter. LPL Financial LLC now owns 372,983 shares of the company’s stock valued at $5,654,000 after purchasing an additional 325,753 shares in the last quarter. Trexquant Investment LP boosted its holdings in Trinity Capital by 10.7% in the first quarter. Trexquant Investment LP now owns 249,751 shares of the company’s stock valued at $3,786,000 after purchasing an additional 24,041 shares in the last quarter. Finally, GraniteShares Advisors LLC boosted its holdings in Trinity Capital by 6.7% in the second quarter. GraniteShares Advisors LLC now owns 193,748 shares of the company’s stock valued at $2,726,000 after purchasing an additional 12,111 shares in the last quarter. 24.62% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

TRIN has been the subject of a number of research analyst reports. Wells Fargo & Company reaffirmed an “underweight” rating and issued a $13.50 price target (up from $13.00) on shares of Trinity Capital in a report on Tuesday, August 12th. UBS Group reduced their price objective on Trinity Capital from $18.00 to $17.00 and set a “buy” rating for the company in a research note on Tuesday, October 14th. Finally, B. Riley boosted their price objective on Trinity Capital from $16.00 to $17.00 and gave the company a “buy” rating in a research note on Thursday, August 7th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $15.63.

Trinity Capital Price Performance

Trinity Capital stock opened at $15.03 on Friday. Trinity Capital Inc. has a 12 month low of $12.50 and a 12 month high of $16.82. The business has a 50 day simple moving average of $15.58 and a 200-day simple moving average of $15.00. The stock has a market capitalization of $1.06 billion, a PE ratio of 6.74 and a beta of 0.53.

Trinity Capital (NASDAQ:TRIN) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.52 by $0.01. Trinity Capital had a return on equity of 15.72% and a net margin of 51.88%.The business had revenue of $69.48 million during the quarter, compared to analysts’ expectations of $68.84 million. As a group, equities research analysts anticipate that Trinity Capital Inc. will post 2.06 EPS for the current year.

Trinity Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th were given a $0.51 dividend. The ex-dividend date was Tuesday, September 30th. This represents a $2.04 annualized dividend and a yield of 13.6%. Trinity Capital’s dividend payout ratio is presently 91.48%.

Insider Buying and Selling at Trinity Capital

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

Trinity Capital Profile

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.