Hennion & Walsh Asset Management Inc. Raises Stake in Trinity Capital Inc. (NASDAQ:TRIN)

Hennion & Walsh Asset Management Inc. boosted its stake in Trinity Capital Inc. (NASDAQ:TRIN - Free Report) by 10.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 222,351 shares of the company's stock after acquiring an additional 20,842 shares during the period. Hennion & Walsh Asset Management Inc. owned 0.38% of Trinity Capital worth $3,217,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in TRIN. Quarry LP lifted its stake in Trinity Capital by 1,053.0% in the third quarter. Quarry LP now owns 3,701 shares of the company's stock valued at $50,000 after buying an additional 3,380 shares during the period. McIlrath & Eck LLC acquired a new position in Trinity Capital in the third quarter valued at approximately $57,000. Blue Trust Inc. lifted its stake in Trinity Capital by 522.1% in the third quarter. Blue Trust Inc. now owns 7,714 shares of the company's stock valued at $109,000 after buying an additional 6,474 shares during the period. MQS Management LLC acquired a new position in Trinity Capital in the second quarter valued at approximately $152,000. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in Trinity Capital by 9.0% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 11,173 shares of the company's stock valued at $152,000 after buying an additional 918 shares during the period. 24.62% of the stock is currently owned by institutional investors.

Trinity Capital Stock Down 0.6 %

NASDAQ TRIN traded down $0.09 on Friday, reaching $14.61. The company had a trading volume of 478,085 shares, compared to its average volume of 560,420. The stock has a market capitalization of $860.68 million, a P/E ratio of 8.54 and a beta of 0.55. The company's fifty day moving average is $14.43 and its 200 day moving average is $14.15. Trinity Capital Inc. has a 52-week low of $13.05 and a 52-week high of $15.26. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.07.

Trinity Capital Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 13.96%. The ex-dividend date of this dividend was Tuesday, December 31st. Trinity Capital's payout ratio is currently 119.30%.

Wall Street Analysts Forecast Growth

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.

Insider Activity at Trinity Capital

In other news, Director Ronald E. Estes purchased 2,000 shares of the business's stock in a transaction dated 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 purchase, the director now 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Steve Louis Brown purchased 19,350 shares of the business's stock in a transaction dated Monday, November 4th. The shares were purchased at an average price of $13.12 per share, with a total value of $253,872.00. Following the purchase, the chairman now directly owns 722,182 shares in the company, valued at $9,475,027.84. This trade represents a 2.75 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders purchased 29,702 shares of company stock valued at $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.