Stock Traders Purchase High Volume of Trinity Capital Put Options (NASDAQ:TRIN)

Trinity Capital Inc. (NASDAQ:TRIN) was the target of unusually large options trading activity on Monday. Traders purchased 3,038 put options on the stock. This is an increase of 490% compared to the average daily volume of 515 put options.

Trinity Capital Stock Down 1.8%

Trinity Capital stock opened at $14.70 on Tuesday. Trinity Capital has a 12 month low of $12.50 and a 12 month high of $17.20. The stock has a market cap of $1.11 billion, a price-to-earnings ratio of 6.71 and a beta of 0.53. The business has a 50 day moving average price of $15.74 and a two-hundred day moving average price of $15.48.

Trinity Capital Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th will be issued a $0.17 dividend. This represents a c) annualized dividend and a yield of 13.9%. The ex-dividend date of this dividend is Friday, March 13th. Trinity Capital’s payout ratio is 93.15%.

Hedge Funds Weigh In On Trinity Capital

Hedge funds and other institutional investors have recently made changes to their positions in the business. Marshall Wace LLP increased its stake in Trinity Capital by 4,587.0% in the third quarter. Marshall Wace LLP now owns 1,151,272 shares of the company’s stock valued at $17,822,000 after acquiring an additional 1,126,709 shares during the period. Sound Income Strategies LLC grew its stake in shares of Trinity Capital by 58,959.3% in the 4th quarter. Sound Income Strategies LLC now owns 944,948 shares of the company’s stock valued at $15,318,000 after purchasing an additional 943,348 shares during the period. Eagle Point Credit Management LLC acquired a new position in shares of Trinity Capital in the 4th quarter worth approximately $10,657,000. Two Sigma Investments LP lifted its position in shares of Trinity Capital by 83.5% during the 3rd quarter. Two Sigma Investments LP now owns 986,184 shares of the company’s stock worth $15,266,000 after buying an additional 448,626 shares during the period. Finally, Closed End Fund Advisors Inc. bought a new position in shares of Trinity Capital during the 4th quarter worth approximately $5,493,000. 24.62% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on TRIN. Clear Str raised shares of Trinity Capital to a “strong-buy” rating in a research report on Wednesday, February 4th. Capital One Financial set a $17.00 price objective on Trinity Capital in a research report on Thursday, December 11th. Citigroup reaffirmed an “outperform” rating on shares of Trinity Capital in a report on Tuesday, January 27th. Citizens Jmp set a $17.50 price target on Trinity Capital in a report on Monday, December 8th. Finally, Loop Capital set a $17.00 price objective on Trinity Capital in a research report on Thursday, December 11th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.29.

Trinity Capital Company Profile

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.