Sound Income Strategies LLC Has $15.32 Million Stock Holdings in Trinity Capital Inc. $TRIN

Sound Income Strategies LLC boosted its position in shares of Trinity Capital Inc. (NASDAQ:TRIN) by 58,959.3% during the 4th quarter, Holdings Channel reports. The institutional investor owned 944,948 shares of the company’s stock after purchasing an additional 943,348 shares during the quarter. Sound Income Strategies LLC’s holdings in Trinity Capital were worth $15,318,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of TRIN. Goldman Sachs Group Inc. lifted its holdings in Trinity Capital by 609.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 136,672 shares of the company’s stock worth $2,072,000 after buying an additional 117,420 shares in the last quarter. Empowered Funds LLC acquired a new position in Trinity Capital during the 1st quarter worth $234,000. JPMorgan Chase & Co. acquired a new position in Trinity Capital during the 2nd quarter worth $54,000. Beacon Pointe Advisors LLC acquired a new position in Trinity Capital during the 2nd quarter worth $737,000. Finally, Invesco Ltd. lifted its holdings in Trinity Capital by 2.7% during the 2nd quarter. Invesco Ltd. now owns 838,194 shares of the company’s stock worth $11,793,000 after buying an additional 21,729 shares in the last quarter. Institutional investors and hedge funds own 24.62% of the company’s stock.

Trinity Capital Stock Performance

Shares of Trinity Capital stock opened at $15.14 on Tuesday. The firm has a fifty day moving average of $15.24 and a two-hundred day moving average of $15.21. The stock has a market capitalization of $1.26 billion, a price-to-earnings ratio of 7.72 and a beta of 0.55. Trinity Capital Inc. has a 52 week low of $12.50 and a 52 week high of $17.20.

Trinity Capital (NASDAQ:TRIN) last issued its earnings results on Wednesday, February 25th. The company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.51 by $0.01. The company had revenue of $58.89 million during the quarter, compared to analysts’ expectations of $79.83 million. Trinity Capital had a net margin of 46.18% and a return on equity of 14.97%. As a group, research analysts forecast that Trinity Capital Inc. will post 2.06 EPS for the current fiscal year.

Trinity Capital Announces Dividend

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

Insider Buying and Selling at Trinity Capital

In other Trinity Capital news, Chairman Steve Louis Brown bought 27,109 shares of the company’s stock in a transaction on Thursday, March 12th. The stock was bought at an average price of $14.75 per share, for a total transaction of $399,857.75. Following the transaction, the chairman owned 940,745 shares of the company’s stock, valued at approximately $13,875,988.75. The trade was a 2.97% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Kyle Steven Brown acquired 3,532 shares of the stock in a transaction that occurred on Monday, March 16th. The stock was purchased at an average price of $14.16 per share, with a total value of $50,013.12. Following the transaction, the chief executive officer 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. The SEC filing for this purchase provides additional information. Insiders have acquired a total of 37,682 shares of company stock valued at $553,902 in the last quarter. Corporate insiders own 5.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Citizens Jmp set a $17.50 price objective on Trinity Capital in a report on Monday, December 8th. Loop Capital set a $17.00 price objective on Trinity Capital in a report on Thursday, December 11th. Citigroup reaffirmed an “outperform” rating on shares of Trinity Capital in a report on Tuesday, January 27th. Capital One Financial set a $17.00 target price on shares of Trinity Capital in a research report on Thursday, December 11th. Finally, Wall Street Zen upgraded shares of 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 given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $16.29.

About Trinity Capital

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.