Melia Wealth LLC Invests $24.22 Million in Trinity Capital Inc. $TRIN

Melia Wealth LLC purchased a new position in Trinity Capital Inc. (NASDAQ:TRIN) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 1,353,898 shares of the company’s stock, valued at approximately $24,221,000. Trinity Capital comprises about 13.9% of Melia Wealth LLC’s holdings, making the stock its 3rd largest holding.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Marshall Wace LLP raised its holdings in Trinity Capital by 4,587.0% in the third quarter. Marshall Wace LLP now owns 1,151,272 shares of the company’s stock valued at $17,822,000 after acquiring an additional 1,126,709 shares in the last quarter. Eagle Point Credit Management LLC acquired a new position in Trinity Capital during the 4th quarter worth $10,657,000. Two Sigma Investments LP grew its holdings in Trinity Capital by 83.5% during the 3rd quarter. Two Sigma Investments LP now owns 986,184 shares of the company’s stock worth $15,266,000 after acquiring an additional 448,626 shares in the last quarter. Closed End Fund Advisors Inc. bought a new stake in shares of Trinity Capital in the 4th quarter worth about $5,493,000. Finally, Price T Rowe Associates Inc. MD increased its position in shares of Trinity Capital by 203.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 545,047 shares of the company’s stock worth $7,986,000 after purchasing an additional 365,193 shares during the last quarter. Institutional investors own 24.62% of the company’s stock.

Insider Activity

In related news, CEO Kyle Steven Brown purchased 2,296 shares of the business’s stock in a transaction that occurred on Friday, August 7th. The shares were acquired at an average price of $18.04 per share, with a total value of $41,419.84. Following the acquisition, the chief executive officer owned 612,262 shares in the company, valued at approximately $11,045,206.48. This trade represents a 0.38% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 4.25% of the company’s stock.

Trinity Capital Stock Down 0.1%

Shares of NASDAQ:TRIN opened at $18.70 on Friday. The company has a market cap of $1.77 billion, a PE ratio of 9.90 and a beta of 0.61. Trinity Capital Inc. has a fifty-two week low of $14.13 and a fifty-two week high of $18.86. The firm has a 50-day simple moving average of $17.76 and a 200 day simple moving average of $16.49.

Trinity Capital (NASDAQ:TRIN) last issued its earnings results on Wednesday, August 5th. The company reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). Trinity Capital had a return on equity of 14.94% and a net margin of 43.45%.The business had revenue of $87.17 million during the quarter, compared to the consensus estimate of $91.44 million. As a group, research analysts forecast that Trinity Capital Inc. will post 2.1 EPS for the current fiscal year.

Trinity Capital Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Thursday, September 10th will be given a dividend of $0.17 per share. This represents a c) dividend on an annualized basis and a dividend yield of 10.9%. The ex-dividend date is Thursday, September 10th. Trinity Capital’s dividend payout ratio is presently 116.57%.

Analyst Ratings Changes

TRIN has been the topic of several research analyst reports. Keefe, Bruyette & Woods increased their price target on shares of Trinity Capital from $16.00 to $16.50 and gave the stock a “market perform” rating in a research report on Thursday, August 6th. Wells Fargo & Company boosted their price objective on Trinity Capital from $13.50 to $15.00 and gave the company an “underweight” rating in a report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $16.67.

Trinity Capital Company Profile

Trinity Capital Corporation (NASDAQ: TRIN) is a publicly traded business development company that provides flexible financing solutions to venture-backed and growth-stage companies. As a venture lender, Trinity Capital offers customized capital structures, including secured debt and equity co-investment, designed to support companies that have progressed beyond early-stage funding but still require non-dilutive growth capital.

The company focuses its investments on technology-driven sectors such as software, fintech, healthcare, life sciences and cleantech.