Cornerstone Wealth Management LLC Raises Stock Position in Trinity Capital Inc. (NASDAQ:TRIN)

Cornerstone Wealth Management LLC lifted its stake in Trinity Capital Inc. (NASDAQ:TRIN) by 9.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,798 shares of the company’s stock after buying an additional 1,983 shares during the period. Cornerstone Wealth Management LLC’s holdings in Trinity Capital were worth $309,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TRIN. Confluence Investment Management LLC lifted its stake in Trinity Capital by 1.3% in the second quarter. Confluence Investment Management LLC now owns 57,651 shares of the company’s stock valued at $815,000 after buying an additional 758 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in Trinity Capital in the 2nd quarter valued at $35,000. Commonwealth Equity Services LLC boosted its stake in Trinity Capital by 5.0% during the 2nd quarter. Commonwealth Equity Services LLC now owns 71,436 shares of the company’s stock worth $1,010,000 after purchasing an additional 3,415 shares during the period. AWM Capital LLC boosted its stake in Trinity Capital by 17.6% during the 1st quarter. AWM Capital LLC now owns 41,218 shares of the company’s stock worth $605,000 after purchasing an additional 6,173 shares during the period. Finally, Paloma Partners Management Co purchased a new position in Trinity Capital during the 1st quarter worth $150,000. 24.62% of the stock is currently owned by institutional investors and hedge funds.

Trinity Capital Price Performance

Shares of NASDAQ:TRIN opened at $13.90 on Friday. Trinity Capital Inc. has a one year low of $13.21 and a one year high of $15.44. The stock has a market capitalization of $687.76 million, a price-to-earnings ratio of 8.63 and a beta of 0.55. The company has a 50-day simple moving average of $13.97 and a 200-day simple moving average of $14.37. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.11 and a current ratio of 0.11.

Trinity Capital (NASDAQ:TRIN) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.02). Trinity Capital had a net margin of 40.06% and a return on equity of 16.14%. The company had revenue of $54.64 million for the quarter, compared to analysts’ expectations of $53.17 million. During the same period in the prior year, the company earned $0.58 earnings per share. On average, analysts predict that Trinity Capital Inc. will post 2.08 EPS for the current year.

Trinity Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a dividend of $0.51 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $2.04 dividend on an annualized basis and a yield of 14.68%. Trinity Capital’s payout ratio is currently 126.71%.

Insider Transactions at Trinity Capital

In other news, CEO Kyle Steven Brown bought 3,500 shares of the stock in a transaction dated Tuesday, August 13th. The shares were acquired at an average price of $14.15 per share, with a total value of $49,525.00. Following the completion of the acquisition, the chief executive officer now directly owns 975,298 shares in the company, valued at approximately $13,800,466.70. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last quarter, insiders bought 5,597 shares of company stock worth $78,913. Company insiders own 6.38% of the company’s stock.

About Trinity Capital

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.