Hennion & Walsh Asset Management Inc. Grows Holdings in Trinity Capital Inc. (NASDAQ:TRIN)

Hennion & Walsh Asset Management Inc. increased its holdings in Trinity Capital Inc. (NASDAQ:TRIN - Free Report) by 11.1% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 247,138 shares of the company's stock after buying an additional 24,787 shares during the period. Hennion & Walsh Asset Management Inc. owned about 0.39% of Trinity Capital worth $3,747,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. Aquatic Capital Management LLC acquired a new position in shares of Trinity Capital in the 4th quarter valued at $124,000. Blue Trust Inc. grew its position in Trinity Capital by 27.2% during the 4th quarter. Blue Trust Inc. now owns 9,814 shares of the company's stock worth $133,000 after purchasing an additional 2,100 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Trinity Capital during the 4th quarter worth about $152,000. Colonial River Investments LLC acquired a new stake in Trinity Capital during the 4th quarter worth about $158,000. Finally, Axxcess Wealth Management LLC acquired a new stake in Trinity Capital during the 4th quarter worth about $158,000. Institutional investors own 24.62% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Wells Fargo & Company cut their price target on Trinity Capital from $14.00 to $13.00 and set an "underweight" rating on the stock in a research report on Monday, April 28th. Keefe, Bruyette & Woods lowered 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 research note on Thursday, May 8th. B. Riley began coverage on shares of Trinity Capital in a research note on Tuesday, May 13th. They set a "buy" rating and a $16.00 target price on the stock. Finally, UBS Group lowered their target price on shares of Trinity Capital from $18.00 to $16.50 and set a "buy" rating on the stock in a research note on Thursday, April 17th.

Insider Activity

In related news, CEO Kyle Steven Brown bought 3,513 shares of the company's stock in a transaction on Friday, May 9th. The stock was bought at an average cost of $14.22 per share, with a total value of $49,954.86. Following the completion of the acquisition, the chief executive officer now owns 55,332 shares in the company, valued at approximately $786,821.04. This represents a 6.78% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, 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 transaction of $49,691.50. Following the completion of the transaction, 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. Corporate insiders own 5.31% of the company's stock.

Trinity Capital Price Performance

Shares of TRIN stock traded up $0.13 during mid-day trading on Friday, hitting $14.54. 906,674 shares of the stock were exchanged, compared to its average volume of 543,650. The company has a market cap of $940.03 million, a PE ratio of 8.50 and a beta of 0.55. Trinity Capital Inc. has a 52-week low of $12.50 and a 52-week high of $16.82. The firm has a fifty day moving average of $14.42 and a 200 day moving average of $14.92. 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 (NASDAQ:TRIN - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $0.52 earnings per share (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 analysts' expectations of $67.67 million. Research analysts anticipate 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. Stockholders of record on Monday, March 31st were issued a $0.51 dividend. The ex-dividend date was Monday, March 31st. This represents a $2.04 dividend on an annualized basis and a dividend yield of 14.03%. Trinity Capital's payout ratio is 93.15%.

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.