Advisors Asset Management Inc. Acquires 29,695 Shares of Trinity Capital Inc. (NASDAQ:TRIN)

Advisors Asset Management Inc. raised its holdings in shares of Trinity Capital Inc. (NASDAQ:TRIN) by 41.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 100,837 shares of the company’s stock after purchasing an additional 29,695 shares during the quarter. Advisors Asset Management Inc. owned approximately 0.17% of Trinity Capital worth $1,368,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. International Assets Investment Management LLC bought a new position in shares of Trinity Capital in the second quarter valued at about $35,000. Blue Trust Inc. raised its holdings in Trinity Capital by 522.1% in the 3rd quarter. Blue Trust Inc. now owns 7,714 shares of the company’s stock valued at $109,000 after acquiring an additional 6,474 shares during the period. MQS Management LLC acquired a new stake in Trinity Capital during the second quarter worth approximately $152,000. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Trinity Capital by 9.0% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 11,173 shares of the company’s stock worth $152,000 after acquiring an additional 918 shares during the period. Finally, PFG Investments LLC grew its position in shares of Trinity Capital by 12.9% in the third quarter. PFG Investments LLC now owns 12,326 shares of the company’s stock valued at $167,000 after purchasing an additional 1,411 shares during the last quarter. 24.62% of the stock is owned by institutional investors.

Trinity Capital Price Performance

NASDAQ:TRIN opened at $14.25 on Tuesday. Trinity Capital Inc. has a 52 week low of $13.05 and a 52 week high of $15.44. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.05 and a current ratio of 0.05. The firm’s 50-day simple moving average is $13.89 and its 200 day simple moving average is $14.23. The firm has a market cap of $839.47 million, a price-to-earnings ratio of 8.33 and a beta of 0.55.

Trinity Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a dividend of $0.51 per share. The ex-dividend date was Monday, September 30th. This represents a $2.04 annualized dividend and a dividend yield of 14.32%. Trinity Capital’s dividend payout ratio is presently 119.30%.

Analysts Set New Price Targets

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

Insider Activity

In related news, Chairman Steve Louis Brown purchased 19,350 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were bought at an average price of $13.12 per share, for a total transaction of $253,872.00. Following the completion of the transaction, the chairman now owns 722,182 shares of the company’s stock, valued at approximately $9,475,027.84. This trade represents a 2.75 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Kyle Steven Brown acquired 7,562 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were purchased at an average cost of $13.39 per share, with a total value of $101,255.18. Following the transaction, the chief executive officer now directly owns 964,832 shares of the company’s stock, valued at $12,919,100.48. This trade represents a 0.79 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 29,702 shares of company stock worth $392,696. Corporate insiders own 6.38% of the company’s stock.

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.