Kennedy Capital Management LLC Buys Shares of 137,726 Trinity Capital Inc. (NASDAQ:TRIN)

Kennedy Capital Management LLC purchased a new position in Trinity Capital Inc. (NASDAQ:TRIN) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 137,726 shares of the company’s stock, valued at approximately $2,022,000. Kennedy Capital Management LLC owned approximately 0.28% of Trinity Capital as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Greenwich Investment Management Inc. increased its holdings in shares of Trinity Capital by 0.6% during the fourth quarter. Greenwich Investment Management Inc. now owns 1,204,660 shares of the company’s stock valued at $17,504,000 after acquiring an additional 6,606 shares in the last quarter. Melia Wealth LLC raised its holdings in Trinity Capital by 1.7% in the first quarter. Melia Wealth LLC now owns 1,027,121 shares of the company’s stock worth $15,078,000 after buying an additional 17,154 shares during the last quarter. Van ECK Associates Corp raised its holdings in Trinity Capital by 14.5% in the first quarter. Van ECK Associates Corp now owns 911,266 shares of the company’s stock worth $13,377,000 after buying an additional 115,134 shares during the last quarter. Legacy Capital Wealth Partners LLC bought a new position in shares of Trinity Capital in the fourth quarter worth approximately $1,487,000. Finally, Prevail Innovative Wealth Advisors LLC grew its holdings in shares of Trinity Capital by 11.2% during the fourth quarter. Prevail Innovative Wealth Advisors LLC now owns 102,292 shares of the company’s stock valued at $1,486,000 after buying an additional 10,289 shares during the last quarter. Hedge funds and other institutional investors own 24.62% of the company’s stock.

Trinity Capital Stock Performance

Shares of TRIN stock traded down $0.13 during trading hours on Wednesday, reaching $14.61. The company had a trading volume of 72,036 shares, compared to its average volume of 470,172. Trinity Capital Inc. has a one year low of $13.21 and a one year high of $15.44. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.06 and a current ratio of 0.06. The business has a fifty day moving average price of $14.55 and a 200-day moving average price of $14.52. The firm has a market cap of $722.90 million, a PE ratio of 9.16 and a beta of 0.56.

Trinity Capital (NASDAQ:TRIN) last announced its earnings results on Wednesday, May 1st. The company reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.03). Trinity Capital had a net margin of 36.12% and a return on equity of 16.73%. The company had revenue of $50.45 million for the quarter, compared to analysts’ expectations of $50.09 million. During the same quarter in the prior year, the firm posted $0.52 earnings per share. Sell-side analysts predict that Trinity Capital Inc. will post 2.14 earnings per share for the current fiscal year.

Trinity Capital Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were issued 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 Friday, June 28th. Trinity Capital’s dividend payout ratio is 126.71%.

Analyst Ratings Changes

Separately, B. Riley lowered their price objective on Trinity Capital from $16.50 to $16.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $15.60.

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.