GraniteShares Advisors LLC Makes New $2.47 Million Investment in Trinity Capital Inc. (NASDAQ:TRIN)

GraniteShares Advisors LLC acquired a new stake in Trinity Capital Inc. (NASDAQ:TRIN - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund acquired 170,627 shares of the company's stock, valued at approximately $2,469,000. Trinity Capital accounts for 1.6% of GraniteShares Advisors LLC's portfolio, making the stock its 25th largest holding. GraniteShares Advisors LLC owned 0.29% of Trinity Capital as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC raised its stake in Trinity Capital by 9.0% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 11,173 shares of the company's stock valued at $152,000 after acquiring an additional 918 shares during the period. Cornerstone Wealth Management LLC raised its stake in Trinity Capital by 5.7% in the 4th quarter. Cornerstone Wealth Management LLC now owns 24,100 shares of the company's stock valued at $349,000 after acquiring an additional 1,302 shares during the period. PFG Investments LLC raised its stake in Trinity Capital by 12.9% in the 3rd quarter. PFG Investments LLC now owns 12,326 shares of the company's stock valued at $167,000 after acquiring an additional 1,411 shares during the period. First Financial Bank Trust Division raised its stake in Trinity Capital by 5.0% in the 4th quarter. First Financial Bank Trust Division now owns 38,665 shares of the company's stock valued at $559,000 after acquiring an additional 1,838 shares during the period. Finally, State Street Corp increased its position in shares of Trinity Capital by 3.3% during the third quarter. State Street Corp now owns 61,170 shares of the company's stock valued at $861,000 after buying an additional 1,936 shares during the period. 24.62% of the stock is currently owned by institutional investors.

Trinity Capital Price Performance

Shares of TRIN traded up $0.34 during midday trading on Friday, hitting $16.56. 531,594 shares of the company traded hands, compared to its average volume of 556,472. The stock has a 50-day moving average of $15.15 and a 200-day moving average of $14.42. Trinity Capital Inc. has a one year low of $13.05 and a one year high of $16.82. The firm has a market cap of $975.48 million, a P/E ratio of 9.68 and a beta of 0.56. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.05 and a quick ratio of 0.05.

Trinity Capital (NASDAQ:TRIN - Get Free Report) last posted its quarterly earnings data on Wednesday, February 26th. The company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.03. The company had revenue of $70.83 million for the quarter, compared to analysts' expectations of $64.13 million. Trinity Capital had a net margin of 40.73% and a return on equity of 15.90%. As a group, sell-side analysts predict that Trinity Capital Inc. will post 2.06 EPS for the current fiscal year.

Trinity Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 12.32%. The ex-dividend date was Tuesday, December 31st. Trinity Capital's dividend payout ratio (DPR) is 99.03%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Wells Fargo & Company upped their price target on Trinity Capital from $13.00 to $14.00 and gave the company an "underweight" rating in a research report on Friday. Keefe, Bruyette & Woods upped their price target on Trinity Capital from $15.00 to $16.00 and gave the company a "market perform" rating in a research report on Thursday.

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.