Naviter Wealth LLC Has $689,000 Stake in Trinity Capital Inc. $TRIN

Naviter Wealth LLC boosted its holdings in shares of Trinity Capital Inc. (NASDAQ:TRIN) by 285.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,433 shares of the company’s stock after purchasing an additional 33,653 shares during the period. Naviter Wealth LLC owned 0.06% of Trinity Capital worth $689,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TRIN. Flagship Harbor Advisors LLC acquired a new stake in Trinity Capital during the 4th quarter valued at $27,000. MCF Advisors LLC bought a new position in Trinity Capital in the 3rd quarter valued at $52,000. JPMorgan Chase & Co. bought a new position in Trinity Capital in the 2nd quarter valued at $54,000. BNP Paribas Financial Markets boosted its position in Trinity Capital by 8,783.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 6,041 shares of the company’s stock valued at $94,000 after buying an additional 5,973 shares during the last quarter. Finally, Triumph Capital Management bought a new position in Trinity Capital in the 3rd quarter valued at $102,000. 24.62% of the stock is owned by institutional investors and hedge funds.

Trinity Capital Stock Up 0.4%

NASDAQ:TRIN opened at $15.07 on Thursday. Trinity Capital Inc. has a 12-month low of $13.18 and a 12-month high of $17.20. The stock’s fifty day simple moving average is $15.17 and its 200-day simple moving average is $15.20. The firm has a market capitalization of $1.25 billion, a P/E ratio of 7.69 and a beta of 0.55.

Trinity Capital (NASDAQ:TRIN) last announced its quarterly earnings data on Wednesday, February 25th. The company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.01. Trinity Capital had a return on equity of 14.97% and a net margin of 46.18%.The business had revenue of $58.89 million during the quarter, compared to analysts’ expectations of $79.83 million. As a group, equities research analysts expect that Trinity Capital Inc. will post 2.06 earnings per share for the current year.

Trinity Capital Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, June 30th. Investors of record on Thursday, June 11th will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Thursday, June 11th. This represents a c) dividend on an annualized basis and a dividend yield of 13.5%. Trinity Capital’s payout ratio is 104.08%.

Insiders Place Their Bets

In related news, CEO Kyle Steven Brown acquired 3,532 shares of the firm’s stock in a transaction that occurred on Monday, March 16th. The stock was acquired at an average cost of $14.16 per share, with a total value of $50,013.12. Following the completion of the purchase, the chief executive officer directly owned 620,709 shares in the company, valued at approximately $8,789,239.44. This trade represents a 0.57% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Steve Louis Brown acquired 27,109 shares of the firm’s stock in a transaction that occurred on Thursday, March 12th. The shares were bought at an average cost of $14.75 per share, with a total value of $399,857.75. Following the completion of the purchase, the chairman owned 940,745 shares of the company’s stock, valued at $13,875,988.75. This trade represents a 2.97% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders have purchased 37,682 shares of company stock valued at $553,902. 5.31% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on TRIN. Capital One Financial set a $17.00 price objective on Trinity Capital in a research report on Thursday, December 11th. Loop Capital set a $17.00 price objective on Trinity Capital in a research report on Thursday, December 11th. Citigroup reiterated an “outperform” rating on shares of Trinity Capital in a research report on Tuesday, January 27th. Clear Str upgraded Trinity Capital to a “strong-buy” rating in a research report on Wednesday, February 4th. Finally, Wall Street Zen upgraded Trinity Capital from a “sell” rating to a “hold” rating in a research report on Sunday, March 29th. One research 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 issued a Sell rating to the company. Based on data from MarketBeat, Trinity Capital has a consensus rating of “Moderate Buy” and an average target price of $16.29.

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.