Corient Private Wealth LP Makes New Investment in Trinity Capital Inc. $TRIN

Corient Private Wealth LP purchased a new position in shares of Trinity Capital Inc. (NASDAQ:TRIN) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 150,793 shares of the company’s stock, valued at approximately $2,698,000.

A number of other hedge funds have also made changes to their positions in the stock. Trust Co. of Vermont bought a new position in shares of Trinity Capital in the 2nd quarter valued at approximately $25,000. Nomura Asset Management Co. Ltd. bought a new stake in Trinity Capital during the fourth quarter worth approximately $25,000. Burk Holdings LLC acquired a new position in Trinity Capital during the second quarter valued at approximately $32,000. Sunbelt Securities Inc. acquired a new position in Trinity Capital during the first quarter valued at approximately $37,000. Finally, Fifth Third Bancorp bought a new position in shares of Trinity Capital in the first quarter valued at approximately $37,000. Institutional investors and hedge funds own 24.62% of the company’s stock.

Trinity Capital Stock Down 1.8%

Shares of NASDAQ:TRIN opened at $18.28 on Wednesday. The business has a 50 day moving average price of $17.86 and a 200 day moving average price of $16.54. Trinity Capital Inc. has a twelve month low of $14.13 and a twelve month high of $18.90. The company has a market cap of $1.73 billion, a price-to-earnings ratio of 9.67 and a beta of 0.61.

Trinity Capital (NASDAQ:TRIN) last released its earnings results on Wednesday, August 5th. The company reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). Trinity Capital had a net margin of 43.45% and a return on equity of 14.94%. The business had revenue of $87.17 million during the quarter, compared to analyst estimates of $91.44 million. Analysts anticipate that Trinity Capital Inc. will post 2.1 EPS for the current year.

Trinity Capital Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Investors of record on Thursday, September 10th will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Thursday, September 10th. This represents a c) dividend on an annualized basis and a yield of 11.2%. Trinity Capital’s payout ratio is 116.57%.

Insider Transactions at Trinity Capital

In related news, CEO Kyle Steven Brown bought 2,296 shares of the business’s stock in a transaction that occurred on Friday, August 7th. The stock was purchased at an average cost of $18.04 per share, for a total transaction of $41,419.84. Following the purchase, the chief executive officer directly owned 612,262 shares in the company, valued at $11,045,206.48. This trade represents a 0.38% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 4.25% of the company’s stock.

Analyst Ratings Changes

TRIN has been the subject of several recent analyst reports. Wells Fargo & Company upped their price objective on shares of Trinity Capital from $13.50 to $15.00 and gave the stock an “underweight” rating in a report on Thursday, May 7th. Keefe, Bruyette & Woods lifted their target price on shares of Trinity Capital from $16.00 to $16.50 and gave the stock a “market perform” rating in a report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, four have issued 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 stock has a consensus rating of “Moderate Buy” and a consensus price target of $16.67.

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.