Man Group plc Purchases New Holdings in Trinity Capital Inc. $TRIN

Man Group plc purchased a new position in shares of Trinity Capital Inc. (NASDAQ:TRIN) during the second quarter, Holdings Channel reports. The institutional investor purchased 33,235 shares of the company’s stock, valued at approximately $595,000.

Several other hedge funds and other institutional investors have also bought and sold shares of TRIN. Marshall Wace LLP increased its position in shares of Trinity Capital by 4,587.0% during the 3rd quarter. Marshall Wace LLP now owns 1,151,272 shares of the company’s stock valued at $17,822,000 after purchasing an additional 1,126,709 shares during the last quarter. Eagle Point Credit Management LLC bought a new stake in shares of Trinity Capital during the 4th quarter worth $10,657,000. Two Sigma Investments LP boosted its holdings in shares of Trinity Capital by 83.5% in 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 last quarter. Closed End Fund Advisors Inc. purchased a new position in shares of Trinity Capital in the 4th quarter worth about $5,493,000. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of Trinity Capital by 203.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 545,047 shares of the company’s stock worth $7,986,000 after buying an additional 365,193 shares during the last quarter. Hedge funds and other institutional investors own 24.62% of the company’s stock.

Trinity Capital Stock Down 0.4%

NASDAQ TRIN opened at $18.36 on Friday. The company’s 50 day moving average is $17.92 and its 200-day moving average is $16.58. Trinity Capital Inc. has a 12-month low of $14.13 and a 12-month high of $18.90. The firm has a market cap of $1.74 billion, a P/E ratio of 9.71 and a beta of 0.61.

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

Trinity Capital Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Thursday, September 10th will be given a dividend of $0.17 per share. The ex-dividend date is Thursday, September 10th. This represents a c) annualized dividend and a dividend yield of 11.1%. Trinity Capital’s dividend payout ratio is currently 116.57%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on TRIN shares. Wells Fargo & Company raised 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 increased their target price on shares of Trinity Capital from $16.00 to $16.50 and gave the company a “market perform” rating in a research report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Trinity Capital has an average rating of “Moderate Buy” and a consensus target price of $16.67.

Insider Activity at Trinity Capital

In related news, CEO Kyle Brown purchased 2,296 shares of the business’s stock in a transaction dated Friday, August 7th. The stock was purchased at an average cost of $18.04 per share, with a total value of $41,419.84. Following the completion of the acquisition, the chief executive officer directly owned 612,262 shares of the company’s stock, valued at approximately $11,045,206.48. The trade was a 0.38% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 4.25% of the stock is owned by insiders.

Trinity Capital 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.