Cornerstone Wealth Management LLC Raises Holdings in Trinity Capital Inc. (NASDAQ:TRIN)

Cornerstone Wealth Management LLC lifted its position in shares of Trinity Capital Inc. (NASDAQ:TRIN) by 5.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,100 shares of the company’s stock after buying an additional 1,302 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in Trinity Capital were worth $349,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Cubist Systematic Strategies LLC bought a new position in Trinity Capital during the 2nd quarter worth about $386,000. Millennium Management LLC lifted its position in shares of Trinity Capital by 527.8% in the 2nd 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 period. Blue Trust Inc. boosted its stake in shares of Trinity Capital by 522.1% during the third quarter. Blue Trust Inc. now owns 7,714 shares of the company’s stock valued at $109,000 after purchasing an additional 6,474 shares in the last quarter. Private Advisor Group LLC increased its holdings in Trinity Capital by 26.2% during the third quarter. Private Advisor Group LLC now owns 18,409 shares of the company’s stock valued at $250,000 after buying an additional 3,819 shares during the period. Finally, International Assets Investment Management LLC raised its stake in Trinity Capital by 1,257.0% in the third quarter. International Assets Investment Management LLC now owns 33,925 shares of the company’s stock worth $460,000 after buying an additional 31,425 shares in the last quarter. Hedge funds and other institutional investors own 24.62% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Wells Fargo & Company reaffirmed an “underweight” rating and set a $13.00 target price on shares of Trinity Capital in a research report on Monday, December 2nd.

Trinity Capital Stock Performance

TRIN stock opened at $14.92 on Monday. Trinity Capital Inc. has a one year low of $13.05 and a one year high of $15.26. The firm has a market cap of $878.94 million, a price-to-earnings ratio of 8.73 and a beta of 0.55. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.05 and a current ratio of 0.05. The firm has a 50-day simple moving average of $14.50 and a two-hundred day simple moving average of $14.18.

Trinity Capital (NASDAQ:TRIN) last posted its earnings results on Wednesday, October 30th. The company reported $0.52 EPS for the quarter, meeting analysts’ consensus estimates of $0.52. The company had revenue of $61.77 million during the quarter, compared to analysts’ expectations of $55.82 million. Trinity Capital had a net margin of 40.73% and a return on equity of 15.90%. During the same quarter in the prior year, the company posted $0.55 earnings per share. On average, equities analysts forecast that Trinity Capital Inc. will post 2.06 EPS for the current fiscal year.

Trinity Capital Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 13.67%. The ex-dividend date of this dividend was Tuesday, December 31st. Trinity Capital’s dividend payout ratio is currently 119.30%.

Insider Buying and Selling at Trinity Capital

In related news, Director Ronald E. Estes purchased 2,000 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was acquired at an average price of $13.59 per share, with a total value of $27,180.00. Following the completion of the acquisition, the director now owns 25,836 shares in the company, valued at approximately $351,111.24. This represents a 8.39 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Chairman Steve Louis Brown acquired 19,350 shares of the stock in a transaction dated Monday, November 4th. The shares were 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 of the company’s stock, valued at approximately $9,475,027.84. This trade represents a 2.75 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 29,702 shares of company stock worth $392,696. 6.38% of the stock is owned by insiders.

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.