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

Millennium Management LLC grew its holdings in Trinity Capital Inc. (NASDAQ:TRIN - Free Report) by 21.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 449,040 shares of the company's stock after purchasing an additional 80,721 shares during the period. Millennium Management LLC owned approximately 0.76% of Trinity Capital worth $6,498,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Van ECK Associates Corp increased its holdings 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 worth $20,110,000 after acquiring an additional 88,698 shares during the period. Melia Wealth LLC boosted its position 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 buying an additional 32,107 shares during the period. Rockefeller Capital Management L.P. boosted its position in Trinity Capital by 9.3% during the 4th quarter. Rockefeller Capital Management L.P. now owns 843,849 shares of the company's stock valued at $12,211,000 after buying an additional 71,633 shares during the period. Ares Management LLC boosted its position in Trinity Capital by 25.0% during the 4th quarter. Ares Management LLC now owns 549,839 shares of the company's stock valued at $7,956,000 after buying an additional 109,839 shares during the period. Finally, Ameriprise Financial Inc. boosted its position in Trinity Capital by 38.9% during the 4th quarter. Ameriprise Financial Inc. now owns 323,686 shares of the company's stock valued at $4,684,000 after buying an additional 90,580 shares during the period. Institutional investors own 24.62% of the company's stock.

Insider Buying and Selling

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

Trinity Capital Price Performance

NASDAQ:TRIN traded down $0.04 during trading hours on Friday, hitting $14.56. 444,215 shares of the stock traded hands, compared to its average volume of 537,060. 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 1 year low of $12.50 and a 1 year high of $16.82. The company has a market cap of $941.32 million, a price-to-earnings ratio of 8.51 and a beta of 0.57. The stock has a 50 day moving average price of $14.54 and a 200 day moving average price of $14.91.

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

Trinity Capital Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were given a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 14.01%. The ex-dividend date of this dividend was Monday, March 31st. Trinity Capital's dividend payout ratio is presently 93.15%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. UBS Group dropped 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 report on Thursday, April 17th. Keefe, Bruyette & Woods reduced their price objective 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. 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 price target for the company. Finally, Wells Fargo & Company dropped their price objective on shares of Trinity Capital from $14.00 to $13.00 and set an "underweight" rating on the stock in a report on Monday, April 28th.

About Trinity Capital

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.