Trinity Capital (NASDAQ:TRIN) Earns “Underweight” Rating from Wells Fargo & Company

Wells Fargo & Company reaffirmed their underweight rating on shares of Trinity Capital (NASDAQ:TRIN) in a report published on Monday morning, Marketbeat.com reports. They currently have a $13.00 target price on the stock.

Trinity Capital Stock Down 1.6 %

Trinity Capital stock opened at $14.44 on Monday. 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 stock has a market capitalization of $850.66 million, a price-to-earnings ratio of 8.49 and a beta of 0.55. The business has a fifty day moving average price of $13.93 and a 200-day moving average price of $14.22. Trinity Capital has a 1-year low of $13.05 and a 1-year high of $15.44.

Trinity Capital Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 14.13%. The ex-dividend date of this dividend was Monday, September 30th. Trinity Capital’s dividend payout ratio (DPR) is 119.30%.

Insider Buying and Selling at Trinity Capital

In other Trinity Capital news, Chairman Steve Louis Brown bought 19,350 shares of the business’s stock in a transaction on Monday, November 4th. The stock was bought at an average price of $13.12 per share, with a total value of $253,872.00. Following the completion of the purchase, the chairman now directly owns 722,182 shares in the company, valued at $9,475,027.84. The trade was a 2.75 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ronald E. Estes acquired 2,000 shares of Trinity Capital stock in a transaction that occurred on Friday, November 1st. The stock was bought at an average price of $13.59 per share, for a total transaction of $27,180.00. Following the completion of the acquisition, the director now owns 25,836 shares in the company, valued at $351,111.24. This trade represents a 8.39 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 29,702 shares of company stock valued at $392,696. Corporate insiders own 6.38% of the company’s stock.

Institutional Investors Weigh In On Trinity Capital

Institutional investors and hedge funds have recently modified their holdings of the company. Van ECK Associates Corp lifted its holdings in Trinity Capital by 24.9% during the 2nd quarter. Van ECK Associates Corp now owns 1,138,185 shares of the company’s stock worth $16,093,000 after buying an additional 226,919 shares in the last quarter. Millennium Management LLC lifted its stake in 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 purchasing an additional 212,353 shares during the last quarter. Legacy Capital Wealth Partners LLC purchased a new position in Trinity Capital in the second quarter valued at approximately $1,446,000. Emerald Advisers LLC raised its holdings in Trinity Capital by 11.3% during the third quarter. Emerald Advisers LLC now owns 804,942 shares of the company’s stock worth $10,923,000 after purchasing an additional 82,001 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. boosted its holdings in shares of Trinity Capital by 37.7% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 201,509 shares of the company’s stock valued at $2,734,000 after buying an additional 55,131 shares in the last quarter. Hedge funds and other institutional investors own 24.62% of the company’s stock.

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.