Mirae Asset Global Investments Co. Ltd. Purchases 11,000 Shares of Trinity Capital Inc. $TRIN

Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Trinity Capital Inc. (NASDAQ:TRIN) by 78.6% during the 2nd quarter, HoldingsChannel reports. The fund owned 25,000 shares of the company’s stock after buying an additional 11,000 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Trinity Capital were worth $352,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Farther Finance Advisors LLC bought a new stake in shares of Trinity Capital in the 1st quarter valued at approximately $38,000. PNC Financial Services Group Inc. bought a new stake in shares of Trinity Capital in the 1st quarter valued at approximately $45,000. Quarry LP grew its stake in shares of Trinity Capital by 194.8% in the 1st quarter. Quarry LP now owns 4,442 shares of the company’s stock valued at $67,000 after purchasing an additional 2,935 shares during the period. Geneos Wealth Management Inc. bought a new stake in shares of Trinity Capital in the 1st quarter valued at approximately $108,000. Finally, Exeter Financial LLC bought a new stake in shares of Trinity Capital in the 2nd quarter valued at approximately $143,000. 24.62% of the stock is currently owned by institutional investors.

Trinity Capital Stock Performance

NASDAQ:TRIN opened at $14.44 on Friday. The stock’s fifty day moving average price is $15.80 and its two-hundred day moving average price is $14.97. Trinity Capital Inc. has a 52-week low of $12.50 and a 52-week high of $16.82. The company has a market cap of $1.02 billion, a price-to-earnings ratio of 6.48 and a beta of 0.53.

Trinity Capital (NASDAQ:TRIN) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.53 earnings per share (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 firm had revenue of $69.48 million for the quarter, compared to the consensus estimate of $68.84 million. On average, equities analysts predict that Trinity Capital Inc. will post 2.06 EPS for the current fiscal year.

Trinity Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be issued a dividend of $0.51 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $2.04 annualized dividend and a yield of 14.1%. Trinity Capital’s dividend payout ratio is currently 91.48%.

Analysts Set New Price Targets

TRIN has been the topic of several analyst reports. Wells Fargo & Company reiterated an “underweight” rating and issued a $13.50 price objective (up from $13.00) on shares of Trinity Capital in a research note on Tuesday, August 12th. UBS Group increased their price target on Trinity Capital from $17.00 to $17.50 and gave the stock a “buy” rating in a research report on Wednesday, July 16th. Finally, B. Riley increased their price target on Trinity Capital from $16.00 to $17.00 and gave the stock a “buy” rating in a research report on Thursday, August 7th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Trinity Capital has a consensus rating of “Hold” and a consensus price target of $15.75.

Insider Buying and Selling at Trinity Capital

In related news, Director Ronald E. Estes purchased 2,000 shares of the business’s stock in a transaction dated Thursday, September 11th. The shares were bought at an average price of $16.07 per share, with a total value of $32,140.00. Following the purchase, the director directly owned 35,779 shares in the company, valued at $574,968.53. This trade represents a 5.92% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, CEO Kyle Steven Brown purchased 3,200 shares of the business’s stock in a transaction dated Friday, August 8th. The stock was bought at an average cost of $15.78 per share, for a total transaction of $50,496.00. Following the purchase, the chief executive officer 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 have acquired 7,200 shares of company stock worth $114,856. Company insiders own 5.31% of the company’s stock.

Trinity Capital Company 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.