Principal Street Partners LLC Takes $367,000 Position in Trinity Capital Inc. (NASDAQ:TRIN)

Principal Street Partners LLC purchased a new position in shares of Trinity Capital Inc. (NASDAQ:TRIN - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 25,373 shares of the company's stock, valued at approximately $367,000.

Other hedge funds also recently made changes to their positions in the company. Van ECK Associates Corp increased its position in shares of 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 purchasing an additional 88,698 shares during the last quarter. Melia Wealth LLC raised its position in Trinity Capital by 3.0% during the fourth quarter. Melia Wealth LLC now owns 1,096,969 shares of the company's stock worth $15,873,000 after acquiring an additional 32,107 shares in the last quarter. Rockefeller Capital Management L.P. raised its position in Trinity Capital by 9.3% during the fourth 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 lifted its stake in Trinity Capital by 25.0% in the fourth quarter. Ares Management LLC now owns 549,839 shares of the company's stock valued at $7,956,000 after acquiring an additional 109,839 shares during the last quarter. Finally, Millennium Management LLC grew its position in shares of Trinity Capital by 21.9% in the 4th quarter. Millennium Management LLC now owns 449,040 shares of the company's stock valued at $6,498,000 after acquiring an additional 80,721 shares during the period. 24.62% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on TRIN shares. Keefe, Bruyette & Woods dropped their target price on shares of Trinity Capital from $16.00 to $15.00 and set a "market perform" rating on the stock in a report on Thursday, May 8th. Wells Fargo & Company dropped their price objective on Trinity Capital from $14.00 to $13.00 and set an "underweight" rating on the stock in a research note on Monday, April 28th. B. Riley assumed coverage on Trinity Capital in a research note on Tuesday, May 13th. They set a "buy" rating and a $16.00 target price for the company. Finally, UBS Group decreased their target price on Trinity Capital from $18.00 to $16.50 and set a "buy" rating on the stock in a report on Thursday, April 17th.

Trinity Capital Stock Performance

Trinity Capital stock traded up $0.08 during trading hours on Friday, hitting $14.47. The company had a trading volume of 294,424 shares, compared to its average volume of 534,101. Trinity Capital Inc. has a one year low of $12.50 and a one year high of $16.82. The firm has a market cap of $935.50 million, a PE ratio of 8.46 and a beta of 0.57. The firm has a 50-day moving average of $14.69 and a 200 day moving average of $14.89. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.05 and a quick ratio of 0.05.

Trinity Capital (NASDAQ:TRIN - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.52 EPS for the quarter, missing analysts' consensus estimates of $0.53 by ($0.01). Trinity Capital had a net margin of 40.73% and a return on equity of 15.90%. The firm had revenue of $65.39 million during the quarter, compared to analyst estimates of $67.67 million. On average, sell-side analysts expect that Trinity Capital Inc. will post 2.06 earnings per share for the current year.

Trinity Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were given a dividend of $0.51 per share. The ex-dividend date was Monday, March 31st. This represents a $2.04 dividend on an annualized basis and a dividend yield of 14.10%. Trinity Capital's payout ratio is presently 93.15%.

Insiders Place Their Bets

In related news, CEO Kyle Steven Brown purchased 3,513 shares of the company's stock in a transaction that occurred on Friday, May 9th. The stock was acquired at an average price of $14.22 per share, with a total value of $49,954.86. Following the completion of the purchase, the chief executive officer now directly owns 55,332 shares in the company, valued at $786,821.04. This trade represents a 6.78% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard P. Hamada sold 3,335 shares of the firm'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 transaction, the director now directly owns 93,735 shares in the company, valued at approximately $1,396,651.50. This represents a 3.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 5.31% of the company's stock.

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.