Hennion & Walsh Asset Management Inc. Acquires 48,436 Shares of Trinity Capital Inc. $TRIN

Hennion & Walsh Asset Management Inc. boosted its stake in shares of Trinity Capital Inc. (NASDAQ:TRIN) by 18.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 317,155 shares of the company’s stock after acquiring an additional 48,436 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Trinity Capital were worth $4,646,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Cornerstone Wealth Management LLC increased its holdings in shares of Trinity Capital by 2.7% in the 3rd quarter. Cornerstone Wealth Management LLC now owns 33,342 shares of the company’s stock valued at $516,000 after acquiring an additional 889 shares during the period. Canton Hathaway LLC lifted its stake in shares of Trinity Capital by 1.6% during the 3rd quarter. Canton Hathaway LLC now owns 98,126 shares of the company’s stock worth $1,519,000 after purchasing an additional 1,555 shares during the last quarter. Moody National Bank Trust Division boosted its position in Trinity Capital by 8.6% during the fourth quarter. Moody National Bank Trust Division now owns 20,123 shares of the company’s stock valued at $295,000 after purchasing an additional 1,586 shares in the last quarter. Private Advisor Group LLC boosted its position in Trinity Capital by 7.8% during the third quarter. Private Advisor Group LLC now owns 28,549 shares of the company’s stock valued at $442,000 after purchasing an additional 2,071 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Trinity Capital by 55.1% in the third quarter. JPMorgan Chase & Co. now owns 5,961 shares of the company’s stock valued at $92,000 after purchasing an additional 2,118 shares during the last quarter. Institutional investors own 24.62% of the company’s stock.

Trinity Capital Price Performance

Shares of TRIN opened at $14.37 on Tuesday. The company’s fifty day moving average price is $15.40 and its 200-day moving average price is $15.25. Trinity Capital Inc. has a 1-year low of $12.50 and a 1-year high of $17.20. The firm has a market capitalization of $1.20 billion, a PE ratio of 7.33 and a beta of 0.56.

Trinity Capital (NASDAQ:TRIN) last issued its earnings results on Wednesday, February 25th. The company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.01. Trinity Capital had a return on equity of 14.97% and a net margin of 46.18%.The company had revenue of $58.89 million during the quarter, compared to analyst estimates of $79.83 million. As a group, research analysts anticipate that Trinity Capital Inc. will post 2.06 EPS for the current fiscal year.

Trinity Capital Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Thursday, June 11th will be paid a $0.17 dividend. This represents a c) annualized dividend and a dividend yield of 14.2%. The ex-dividend date is Thursday, June 11th. Trinity Capital’s dividend payout ratio (DPR) is presently 104.08%.

Insider Activity

In other news, CEO Kyle Steven Brown bought 3,532 shares of the company’s stock in a transaction that occurred on Monday, March 16th. The shares were purchased at an average price of $14.16 per share, for a total transaction of $50,013.12. Following the completion of the transaction, the chief executive officer directly owned 620,709 shares in the company, valued at approximately $8,789,239.44. This represents a 0.57% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Steve Louis Brown purchased 27,109 shares of the business’s stock in a transaction that occurred on Thursday, March 12th. The stock was acquired at an average price of $14.75 per share, for a total transaction of $399,857.75. Following the acquisition, the chairman owned 940,745 shares in the company, valued at $13,875,988.75. This trade represents a 2.97% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders bought 37,682 shares of company stock valued at $553,902. Company insiders own 6.38% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on TRIN shares. Citigroup reiterated an “outperform” rating on shares of Trinity Capital in a report on Tuesday, January 27th. Citizens Jmp set a $17.50 price target on shares of Trinity Capital in a report on Monday, December 8th. Wall Street Zen raised shares of Trinity Capital from a “sell” rating to a “hold” rating in a research report on Sunday. Noble Financial began coverage on shares of Trinity Capital in a research note on Thursday, December 11th. They set a “buy” rating for the company. Finally, Capital One Financial set a $17.00 target price on shares of Trinity Capital in a research report on Thursday, December 11th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.29.

Trinity Capital 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.