Sound Income Strategies LLC Buys 943,348 Shares of Trinity Capital Inc. $TRIN

by · The Cerbat Gem

Sound Income Strategies LLC grew its stake in Trinity Capital Inc. (NASDAQ:TRINFree Report) by 58,959.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 944,948 shares of the company’s stock after purchasing an additional 943,348 shares during the period. Sound Income Strategies LLC owned approximately 1.25% of Trinity Capital worth $15,318,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Cornerstone Wealth Management LLC grew its stake in shares of Trinity Capital by 2.7% in the 3rd quarter. Cornerstone Wealth Management LLC now owns 33,342 shares of the company’s stock valued at $516,000 after purchasing an additional 889 shares during the period. Canton Hathaway LLC grew its stake in shares of Trinity Capital by 1.6% in the 3rd quarter. Canton Hathaway LLC now owns 98,126 shares of the company’s stock valued at $1,519,000 after purchasing an additional 1,555 shares during the period. Moody National Bank Trust Division grew its stake in shares of Trinity Capital by 8.6% in the 4th quarter. Moody National Bank Trust Division now owns 20,123 shares of the company’s stock valued at $295,000 after purchasing an additional 1,586 shares during the period. Private Advisor Group LLC grew its stake in shares of Trinity Capital by 7.8% in the 3rd quarter. Private Advisor Group LLC now owns 28,549 shares of the company’s stock valued at $442,000 after purchasing an additional 2,071 shares during the period. Finally, JPMorgan Chase & Co. grew its stake in shares of Trinity Capital by 55.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,961 shares of the company’s stock valued at $92,000 after purchasing an additional 2,118 shares during the period. 24.62% of the stock is currently owned by institutional investors.

Insider Activity at Trinity Capital

In other Trinity Capital news, Chairman Steve Louis Brown bought 27,109 shares of Trinity Capital stock in a transaction dated Thursday, March 12th. The shares were acquired at an average cost of $14.75 per share, with a total value of $399,857.75. Following the acquisition, the chairman directly owned 940,745 shares of the company’s stock, valued at $13,875,988.75. The trade was a 2.97% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Kyle Steven Brown bought 3,532 shares of Trinity Capital stock in a transaction dated Monday, March 16th. The stock was acquired at an average cost of $14.16 per share, for a total transaction of $50,013.12. Following the completion of the acquisition, the chief executive officer directly owned 620,709 shares in the company, valued at $8,789,239.44. This represents a 0.57% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought a total of 37,682 shares of company stock worth $553,902 over the last three months. 5.31% of the stock is owned by company insiders.

Trinity Capital Price Performance

Shares of TRIN opened at $15.14 on Tuesday. The company has a market capitalization of $1.26 billion, a P/E ratio of 7.72 and a beta of 0.55. Trinity Capital Inc. has a one year low of $12.50 and a one year high of $17.20. The business’s 50 day simple moving average is $15.24 and its 200-day simple moving average is $15.21.

Trinity Capital (NASDAQ:TRINGet Free Report) last announced its earnings results on Wednesday, February 25th. The company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.51 by $0.01. The business had revenue of $58.89 million for the quarter, compared to the consensus estimate of $79.83 million. Trinity Capital had a return on equity of 14.97% and a net margin of 46.18%. On average, sell-side analysts anticipate that Trinity Capital Inc. will post 2.06 EPS for the current fiscal year.

Trinity Capital Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Thursday, June 11th will be issued a $0.17 dividend. This represents a c) annualized dividend and a dividend yield of 13.5%. The ex-dividend date of this dividend is Thursday, June 11th. Trinity Capital’s payout ratio is presently 104.08%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Citigroup reiterated an “outperform” rating on shares of Trinity Capital in a research note on Tuesday, January 27th. Capital One Financial set a $17.00 price objective on Trinity Capital in a research note on Thursday, December 11th. Citizens Jmp set a $17.50 price objective on Trinity Capital in a research note on Monday, December 8th. Wall Street Zen upgraded Trinity Capital from a “sell” rating to a “hold” rating in a research note on Sunday, March 29th. Finally, Clear Str upgraded Trinity Capital to a “strong-buy” rating in a research note on Wednesday, February 4th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $16.29.

Get Our Latest Report on TRIN

About Trinity Capital

(Free Report)

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.

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