Oppenheimer & Co. Inc. Makes New Investment in Trinity Capital Inc. (NASDAQ:TRIN)

Oppenheimer & Co. Inc. purchased a new position in Trinity Capital Inc. (NASDAQ:TRIN) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 12,429 shares of the company’s stock, valued at approximately $169,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of TRIN. Van ECK Associates Corp lifted its stake in Trinity Capital by 24.9% during the second quarter. Van ECK Associates Corp now owns 1,138,185 shares of the company’s stock valued at $16,093,000 after buying an additional 226,919 shares in the last quarter. Millennium Management LLC lifted its stake in Trinity Capital by 527.8% during the second quarter. Millennium Management LLC now owns 252,587 shares of the company’s stock valued at $3,572,000 after buying an additional 212,353 shares in the last quarter. Kennedy Capital Management LLC purchased a new stake in Trinity Capital during the first quarter valued at about $2,022,000. Legacy Capital Wealth Partners LLC purchased a new stake in Trinity Capital during the second quarter valued at about $1,446,000. Finally, Emerald Advisers LLC lifted its stake in Trinity Capital by 11.3% during the third quarter. Emerald Advisers LLC now owns 804,942 shares of the company’s stock valued at $10,923,000 after buying an additional 82,001 shares in the last quarter. Institutional investors and hedge funds own 24.62% of the company’s stock.

Insider Activity

In other news, CEO Kyle Steven Brown acquired 7,562 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The shares were purchased at an average price of $13.39 per share, for a total transaction of $101,255.18. Following the completion of the acquisition, the chief executive officer now owns 964,832 shares of the company’s stock, valued at approximately $12,919,100.48. This represents a 0.79 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Steve Louis Brown acquired 19,350 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The stock was purchased at an average price of $13.12 per share, for a total transaction of $253,872.00. Following the acquisition, the chairman now directly owns 722,182 shares of the company’s stock, valued at $9,475,027.84. The trade was a 2.75 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 31,202 shares of company stock worth $413,666 in the last 90 days. Company insiders own 6.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company reduced their price objective on shares of Trinity Capital from $14.00 to $13.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 29th.

Trinity Capital Price Performance

Shares of TRIN opened at $14.34 on Friday. The company has a market capitalization of $844.77 million, a price-to-earnings ratio of 8.39 and a beta of 0.55. Trinity Capital Inc. has a fifty-two week low of $13.05 and a fifty-two week high of $15.44. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.05 and a quick ratio of 0.05. The business’s 50-day moving average is $13.88 and its 200-day moving average is $14.24.

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 $0.51 dividend. The ex-dividend date was Monday, September 30th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 14.23%. Trinity Capital’s dividend payout ratio is 119.30%.

Trinity Capital 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.