SMH Capital Advisors Inc. Acquires 171,820 Shares of Trinity Capital Inc. $TRIN

SMH Capital Advisors Inc. acquired a new stake in Trinity Capital Inc. (NASDAQ:TRIN) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 171,820 shares of the company’s stock, valued at approximately $3,015,000. Trinity Capital accounts for about 11.4% of SMH Capital Advisors Inc.’s investment portfolio, making the stock its largest holding.

Several other large investors also recently modified their holdings of TRIN. Melia Wealth LLC bought a new position in Trinity Capital in the 2nd quarter valued at about $24,221,000. Van ECK Associates Corp increased its holdings in Trinity Capital by 39.3% in the second quarter. Van ECK Associates Corp now owns 2,153,437 shares of the company’s stock valued at $38,525,000 after purchasing an additional 607,988 shares during the period. BlackRock Inc. acquired a new stake in Trinity Capital in the second quarter valued at $5,134,000. Corient Private Wealth LP bought a new position in Trinity Capital during the 2nd quarter worth $2,698,000. Finally, Sound Income Strategies LLC raised its position in Trinity Capital by 9.4% during the 2nd quarter. Sound Income Strategies LLC now owns 1,269,744 shares of the company’s stock worth $22,716,000 after purchasing an additional 109,291 shares during the last quarter. 24.62% of the stock is owned by institutional investors and hedge funds.

Trinity Capital Stock Performance

Shares of TRIN opened at $17.14 on Tuesday. The firm has a market cap of $1.62 billion, a PE ratio of 9.07 and a beta of 0.63. Trinity Capital Inc. has a 52-week low of $14.13 and a 52-week high of $18.90. The business’s 50 day moving average price is $17.48 and its two-hundred day moving average price is $16.70.

Trinity Capital (NASDAQ:TRIN) last released its quarterly earnings data 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). The company had revenue of $87.17 million for the quarter, compared to the consensus estimate of $91.44 million. Trinity Capital had a return on equity of 14.94% and a net margin of 43.45%. Research analysts predict that Trinity Capital Inc. will post 2.10 EPS for the current fiscal year.

Trinity Capital Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Friday, December 11th will be issued a dividend of $0.17 per share. The ex-dividend date is Friday, December 11th. This represents a $2.04 annualized dividend and a yield of 11.9%. Trinity Capital’s dividend payout ratio is presently 116.57%.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods lifted their target price on Trinity Capital from $16.00 to $16.50 and gave the stock a “market perform” rating in a report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $16.60.

Insiders Place Their Bets

In other Trinity Capital news, CEO Kyle Brown acquired 2,296 shares of the company’s stock in a transaction on Friday, August 7th. The shares were purchased at an average cost of $18.04 per share, with a total value of $41,419.84. Following the completion of the purchase, the chief executive officer owned 612,262 shares of the company’s stock, valued at approximately $11,045,206.48. This represents a 0.38% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 4.25% of the company’s stock.

About Trinity Capital

Trinity Capital Inc (NASDAQ:TRIN) is a business development company that provides debt financing to venture capital- and private equity-backed companies. The company focuses primarily on growth-stage businesses that may require capital to support expansion, product development, acquisitions, working capital and other corporate needs.

Through its investment platform, Trinity Capital offers a range of financing solutions, including secured loans, equipment financing, growth capital and other customized debt structures.