Trinity Capital Inc. (NASDAQ:TRIN) Sees Large Drop in Short Interest

Trinity Capital Inc. (NASDAQ:TRIN - Get Free Report) saw a significant decline in short interest in the month of November. As of November 15th, there was short interest totalling 1,190,000 shares, a decline of 20.7% from the October 31st total of 1,500,000 shares. Based on an average trading volume of 515,900 shares, the short-interest ratio is currently 2.3 days. Currently, 2.1% of the shares of the company are short sold.

Insider Transactions at Trinity Capital

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 acquired at an average price of $13.12 per share, for a total transaction of $253,872.00. Following the acquisition, the chairman now directly owns 722,182 shares in the company, valued at $9,475,027.84. This represents a 2.75 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Ronald E. Estes bought 2,000 shares of the business's stock in a transaction on Friday, November 1st. The shares were bought at an average cost of $13.59 per share, for a total transaction of $27,180.00. Following the completion of the acquisition, the director now directly owns 25,836 shares in the company, valued at approximately $351,111.24. This trade represents a 8.39 % increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 29,702 shares of company stock worth $392,696 over the last quarter. Company insiders own 6.38% of the company's stock.

Hedge Funds Weigh In On Trinity Capital

A number of large investors have recently made changes to their positions in TRIN. Cetera Advisors LLC bought a new position in Trinity Capital in the 1st quarter worth about $543,000. Emerald Advisers LLC increased its holdings in Trinity Capital by 11.3% during the 3rd quarter. Emerald Advisers LLC now owns 804,942 shares of the company's stock worth $10,923,000 after acquiring an additional 82,001 shares during the period. Hennion & Walsh Asset Management Inc. lifted its stake in Trinity Capital by 37.7% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 201,509 shares of the company's stock worth $2,734,000 after purchasing an additional 55,131 shares in the last quarter. Van ECK Associates Corp boosted its holdings in Trinity Capital by 14.3% in the 3rd quarter. Van ECK Associates Corp now owns 1,301,090 shares of the company's stock valued at $17,902,000 after purchasing an additional 162,905 shares during the period. Finally, Millennium Management LLC boosted its holdings in Trinity Capital by 527.8% in the 2nd quarter. Millennium Management LLC now owns 252,587 shares of the company's stock valued at $3,572,000 after purchasing an additional 212,353 shares during the period. 24.62% of the stock is owned by institutional investors.

Trinity Capital Stock Performance

Shares of TRIN traded up $0.19 on Friday, reaching $14.67. 554,936 shares of the company's stock traded hands, compared to its average volume of 487,687. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.07. The stock has a market cap of $864.21 million, a PE ratio of 8.58 and a beta of 0.55. Trinity Capital has a 52-week low of $13.05 and a 52-week high of $15.44. The stock's 50 day simple moving average is $13.93 and its two-hundred day simple moving average is $14.23.

Trinity Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 13.91%. The ex-dividend date was Monday, September 30th. Trinity Capital's payout ratio is currently 119.30%.

Wall Street Analyst Weigh In

Separately, Wells Fargo & Company reduced their price target on shares of Trinity Capital from $14.00 to $13.00 and set an "equal weight" rating for the company in a report on Tuesday, October 29th.

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.