1,353,898 Shares in Trinity Capital Inc. $TRIN Acquired by Melia Wealth LLC

Key Points

• Melia Wealth LLC acquired 1,353,898 shares of Trinity Capital, valued at approximately $24.2 million. The position represents about 1.43% of TRIN and 13.9% of Melia Wealth’s portfolio.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $16.67, despite Wells Fargo assigning an “underweight” rating and a $15 target.
• Trinity Capital reported quarterly EPS of $0.51, slightly below expectations, while revenue also missed estimates. The company declared a monthly dividend of $0.17 per share, implying an annualized yield of about 10.9%.

Melia Wealth LLC purchased a new position in shares of Trinity Capital Inc. (NASDAQ:TRIN - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 1,353,898 shares of the company's stock, valued at approximately $24,221,000. Trinity Capital accounts for about 13.9% of Melia Wealth LLC's investment portfolio, making the stock its 3rd largest position. Melia Wealth LLC owned approximately 1.43% of Trinity Capital at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Exeter Financial LLC increased its holdings in shares of Trinity Capital by 6.6% during the 1st quarter. Exeter Financial LLC now owns 11,589 shares of the company's stock worth $170,000 after buying an additional 717 shares during the last quarter. Osaic Holdings Inc. increased its stake in Trinity Capital by 1.1% during the fourth quarter. Osaic Holdings Inc. now owns 66,888 shares of the company's stock worth $980,000 after acquiring an additional 754 shares during the last quarter. First Commonwealth Financial Corp PA increased its stake in Trinity Capital by 3.4% during the fourth quarter. First Commonwealth Financial Corp PA now owns 24,540 shares of the company's stock worth $360,000 after acquiring an additional 799 shares during the last quarter. Values First Advisors Inc. raised its holdings in shares of Trinity Capital by 6.0% in the 1st quarter. Values First Advisors Inc. now owns 18,441 shares of the company's stock worth $271,000 after purchasing an additional 1,047 shares during the period. Finally, Geneos Wealth Management Inc. raised its holdings in shares of Trinity Capital by 6.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 17,312 shares of the company's stock worth $255,000 after purchasing an additional 1,079 shares during the period. Institutional investors and hedge funds own 24.62% of the company's stock.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Trinity Capital

In other Trinity Capital news, CEO Kyle Steven Brown bought 2,296 shares of the company's stock in a transaction dated Friday, August 7th. The shares were acquired at an average cost of $18.04 per share, with a total value of $41,419.84. Following the completion of the transaction, the chief executive officer owned 612,262 shares in the company, valued at $11,045,206.48. The trade was a 0.38% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.25% of the stock is owned by corporate insiders.

Trinity Capital Stock Down 0.1%

TRIN opened at $18.70 on Friday. The firm has a market capitalization of $1.77 billion, a P/E ratio of 9.90 and a beta of 0.61. The firm's 50 day moving average is $17.76 and its 200-day moving average is $16.49. Trinity Capital Inc. has a 52-week low of $14.13 and a 52-week high of $18.86.

Trinity Capital (NASDAQ:TRIN - Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported $0.51 EPS for the quarter, missing analysts' consensus estimates of $0.52 by ($0.01). The firm had revenue of $87.17 million for the quarter, compared to analyst estimates of $91.44 million. Trinity Capital had a return on equity of 14.94% and a net margin of 43.45%. Equities analysts expect that Trinity Capital Inc. will post 2.1 earnings per share for the current fiscal year.

Trinity Capital Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Thursday, September 10th will be paid 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 10.9%. Trinity Capital's dividend payout ratio (DPR) is currently 116.57%.

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.

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