Advisors Asset Management Inc. Acquires 29,695 Shares of Trinity Capital Inc. (NASDAQ:TRIN)

Advisors Asset Management Inc. boosted its holdings in Trinity Capital Inc. (NASDAQ:TRIN) by 41.7% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 100,837 shares of the company’s stock after buying an additional 29,695 shares during the quarter. Advisors Asset Management Inc.’s holdings in Trinity Capital were worth $1,368,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TRIN. Van ECK Associates Corp lifted its holdings in shares of Trinity Capital by 14.3% in the third quarter. Van ECK Associates Corp now owns 1,301,090 shares of the company’s stock worth $17,902,000 after acquiring an additional 162,905 shares during the last quarter. Emerald Advisers LLC boosted its position in Trinity Capital by 11.3% in the third quarter. Emerald Advisers LLC now owns 804,942 shares of the company’s stock valued at $10,923,000 after buying an additional 82,001 shares in the last quarter. Millennium Management LLC grew its stake in shares of Trinity Capital by 527.8% during the second quarter. Millennium Management LLC now owns 252,587 shares of the company’s stock worth $3,572,000 after buying an additional 212,353 shares during the last quarter. Hennion & Walsh Asset Management Inc. increased its holdings in shares of Trinity Capital by 37.7% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 201,509 shares of the company’s stock worth $2,734,000 after buying an additional 55,131 shares in the last quarter. Finally, Kennedy Capital Management LLC bought a new position in shares of Trinity Capital in the 1st quarter valued at $2,022,000. Institutional investors own 24.62% of the company’s stock.

Insider Transactions at Trinity Capital

In related news, Chairman Steve Louis Brown purchased 19,350 shares of Trinity Capital stock in a transaction on Monday, November 4th. The shares were purchased at an average price of $13.12 per share, for a total transaction of $253,872.00. Following the transaction, the chairman now owns 722,182 shares of the company’s stock, valued at approximately $9,475,027.84. This represents a 2.75 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Ronald E. Estes acquired 2,000 shares of the stock in a transaction dated Friday, November 1st. The shares were bought at an average price of $13.59 per share, with a total value of $27,180.00. Following the completion of the transaction, the director now directly owns 25,836 shares of the company’s stock, valued at $351,111.24. The trade was a 8.39 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 29,702 shares of company stock worth $392,696. Company insiders own 6.38% of the company’s stock.

Analysts Set New Price Targets

Separately, Wells Fargo & Company reduced their price objective on Trinity Capital from $14.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 29th.

Trinity Capital Stock Down 0.6 %

Shares of NASDAQ TRIN opened at $14.25 on Tuesday. Trinity Capital Inc. has a 1 year low of $13.05 and a 1 year high of $15.44. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.05 and a quick ratio of 0.05. The firm has a market cap of $839.47 million, a PE ratio of 8.33 and a beta of 0.55. The company has a 50 day simple moving average of $13.89 and a 200 day simple moving average of $14.23.

Trinity Capital Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a dividend of $0.51 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 14.32%. Trinity Capital’s dividend payout ratio (DPR) is presently 119.30%.

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.