MQS Management LLC Increases Stake in Trinity Capital Inc. (NASDAQ:TRIN)

MQS Management LLC grew its stake in Trinity Capital Inc. (NASDAQ:TRIN) by 159.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,957 shares of the company’s stock after purchasing an additional 17,184 shares during the period. MQS Management LLC’s holdings in Trinity Capital were worth $379,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Van ECK Associates Corp lifted its stake in shares of Trinity Capital by 24.9% in the 2nd quarter. Van ECK Associates Corp now owns 1,138,185 shares of the company’s stock valued at $16,093,000 after purchasing an additional 226,919 shares during the period. Millennium Management LLC boosted its stake in shares of Trinity Capital by 527.8% during the 2nd quarter. Millennium Management LLC now owns 252,587 shares of the company’s stock worth $3,572,000 after acquiring an additional 212,353 shares in the last quarter. Kennedy Capital Management LLC acquired a new stake in shares of Trinity Capital during the 1st quarter valued at about $2,022,000. Legacy Capital Wealth Partners LLC purchased a new position in shares of Trinity Capital in the 2nd quarter valued at about $1,446,000. Finally, Emerald Advisers LLC raised its holdings in Trinity Capital by 11.3% in the 3rd 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 during the period. Hedge funds and other institutional investors own 24.62% of the company’s stock.

Insider Buying and Selling at Trinity Capital

In other news, Chairman Steve Louis Brown purchased 19,350 shares of the stock in a transaction dated Monday, November 4th. The shares were purchased at an average cost 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. The trade was a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Trinity Capital news, Chairman Steve Louis Brown acquired 19,350 shares of the company’s stock in a transaction that occurred 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 purchase, the chairman now owns 722,182 shares in the company, valued at approximately $9,475,027.84. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ronald E. Estes acquired 2,000 shares of the business’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 acquisition, the director now owns 25,836 shares in the company, valued at $351,111.24. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders bought 31,799 shares of company stock valued at $422,083 over the last quarter. 6.38% of the stock is currently owned by insiders.

Analysts Set New Price Targets

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

Trinity Capital Stock Up 1.0 %

Shares of NASDAQ TRIN opened at $14.20 on Thursday. Trinity Capital Inc. has a 52-week low of $13.05 and a 52-week high of $15.44. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.07. The company’s 50-day simple moving average is $13.83 and its 200-day simple moving average is $14.27. The firm has a market cap of $836.52 million, a price-to-earnings ratio of 8.30 and a beta of 0.55.

Trinity Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a dividend of $0.51 per share. The ex-dividend date was Monday, September 30th. This represents a $2.04 annualized dividend and a yield of 14.37%. Trinity Capital’s dividend payout ratio (DPR) is currently 119.30%.

Trinity Capital 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.