Millennium Management LLC Acquires 80,721 Shares of Trinity Capital Inc. (NASDAQ:TRIN)

Millennium Management LLC raised its holdings in shares of Trinity Capital Inc. (NASDAQ:TRIN - Free Report) by 21.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 449,040 shares of the company's stock after purchasing an additional 80,721 shares during the quarter. Millennium Management LLC owned 0.76% of Trinity Capital worth $6,498,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Van ECK Associates Corp increased its stake in Trinity Capital by 6.8% during the 4th quarter. Van ECK Associates Corp now owns 1,389,788 shares of the company's stock valued at $20,110,000 after purchasing an additional 88,698 shares in the last quarter. Melia Wealth LLC increased its stake in Trinity Capital by 3.0% during the 4th quarter. Melia Wealth LLC now owns 1,096,969 shares of the company's stock valued at $15,873,000 after purchasing an additional 32,107 shares in the last quarter. Rockefeller Capital Management L.P. grew its stake in shares of Trinity Capital by 9.3% in the 4th quarter. Rockefeller Capital Management L.P. now owns 843,849 shares of the company's stock worth $12,211,000 after acquiring an additional 71,633 shares in the last quarter. Ares Management LLC grew its stake in shares of Trinity Capital by 25.0% in the 4th quarter. Ares Management LLC now owns 549,839 shares of the company's stock worth $7,956,000 after acquiring an additional 109,839 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its stake in shares of Trinity Capital by 38.9% in the 4th quarter. Ameriprise Financial Inc. now owns 323,686 shares of the company's stock worth $4,684,000 after acquiring an additional 90,580 shares in the last quarter. Institutional investors own 24.62% of the company's stock.

Insider Buying and Selling at Trinity Capital

In other news, Director Richard P. Hamada sold 3,335 shares of the stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $14.90, for a total value of $49,691.50. Following the sale, the director now directly owns 93,735 shares of the company's stock, valued at approximately $1,396,651.50. This represents a 3.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Kyle Steven Brown purchased 3,513 shares of the stock in a transaction dated Friday, May 9th. The stock was purchased at an average cost of $14.22 per share, for a total transaction of $49,954.86. Following the completion of the acquisition, the chief executive officer now owns 55,332 shares of the company's stock, valued at approximately $786,821.04. This represents a 6.78% increase in their position. The disclosure for this purchase can be found here. Insiders own 5.31% of the company's stock.

Analyst Upgrades and Downgrades

TRIN has been the subject of several recent analyst reports. Wells Fargo & Company reduced their target price on shares of Trinity Capital from $14.00 to $13.00 and set an "underweight" rating for the company in a research note on Monday, April 28th. B. Riley initiated coverage on shares of Trinity Capital in a research note on Tuesday, May 13th. They issued a "buy" rating and a $16.00 target price for the company. UBS Group reduced their target price on shares of Trinity Capital from $18.00 to $16.50 and set a "buy" rating for the company in a research note on Thursday, April 17th. Finally, Keefe, Bruyette & Woods reduced their target price on shares of Trinity Capital from $16.00 to $15.00 and set a "market perform" rating for the company in a research note on Thursday, May 8th.

Trinity Capital Stock Performance

TRIN traded down $0.03 during trading on Thursday, hitting $14.60. 373,726 shares of the company traded hands, compared to its average volume of 534,948. The firm has a market cap of $943.90 million, a P/E ratio of 8.54 and a beta of 0.57. The stock's fifty day moving average is $14.57 and its 200 day moving average is $14.90. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.07. Trinity Capital Inc. has a one year low of $12.50 and a one year high of $16.82.

Trinity Capital (NASDAQ:TRIN - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.01). The company had revenue of $65.39 million for the quarter, compared to the consensus estimate of $67.67 million. Trinity Capital had a net margin of 40.73% and a return on equity of 15.90%. As a group, equities analysts predict that Trinity Capital Inc. will post 2.06 EPS for the current fiscal year.

Trinity Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 13.97%. The ex-dividend date of this dividend was Monday, March 31st. Trinity Capital's dividend payout ratio (DPR) is presently 93.15%.

Trinity Capital Company Profile

Trinity Capital Inc is a business development company. It is a venture capital firm specializing in venture debt to growth stage companies looking for loans and/or equipment financing. Trinity Capital Inc was founded in 2019 is based in Phoenix, Arizona with additional offices in the United States.