Principal Street Partners LLC Makes New $367,000 Investment in Trinity Capital Inc. (NASDAQ:TRIN)

Principal Street Partners LLC bought a new position in shares of Trinity Capital Inc. (NASDAQ:TRIN) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 25,373 shares of the company’s stock, valued at approximately $367,000.

Several other institutional investors and hedge funds have also recently modified their holdings of TRIN. Wells Fargo & Company MN lifted its stake in Trinity Capital by 652.3% in the fourth quarter. Wells Fargo & Company MN now owns 243,414 shares of the company’s stock worth $3,522,000 after acquiring an additional 211,060 shares during the period. Round Rock Advisors LLC bought a new position in shares of Trinity Capital during the fourth quarter valued at approximately $2,772,000. Trexquant Investment LP increased its holdings in Trinity Capital by 421.3% during the fourth quarter. Trexquant Investment LP now owns 225,710 shares of the company’s stock valued at $3,266,000 after buying an additional 182,414 shares during the period. GraniteShares Advisors LLC bought a new position in Trinity Capital in the fourth quarter worth approximately $2,469,000. Finally, Sovereign s Capital Management LLC bought a new stake in Trinity Capital during the 4th quarter valued at $2,157,000. Institutional investors own 24.62% of the company’s stock.

Analysts Set New Price Targets

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

Trinity Capital Stock Up 0.9%

NASDAQ:TRIN opened at $14.98 on Tuesday. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.07. Trinity Capital Inc. has a twelve month low of $12.50 and a twelve month high of $16.82. The company has a market cap of $968.47 million, a PE ratio of 8.76 and a beta of 0.57. The company’s 50 day moving average is $14.80 and its two-hundred day moving average is $14.86.

Trinity Capital (NASDAQ:TRIN) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.01). The company had revenue of $65.39 million for the quarter, compared to analysts’ expectations of $67.67 million. Trinity Capital had a net margin of 40.73% and a return on equity of 15.90%. Analysts anticipate that Trinity Capital Inc. will post 2.06 EPS for the current year.

Trinity Capital Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 13.62%. The ex-dividend date of this dividend was Monday, March 31st. Trinity Capital’s dividend payout ratio (DPR) is 93.15%.

Insider Activity at Trinity Capital

In other Trinity Capital news, CEO Kyle Steven Brown bought 3,513 shares of the firm’s stock in a transaction that occurred on Friday, May 9th. The stock was bought at an average cost of $14.22 per share, for a total transaction of $49,954.86. Following the completion of the transaction, the chief executive officer now directly owns 55,332 shares of the company’s stock, valued at approximately $786,821.04. This trade represents a 6.78% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 5.31% 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.