Van ECK Associates Corp Increases Holdings in Trinity Capital Inc. (NASDAQ:TRIN)

Van ECK Associates Corp boosted its stake in Trinity Capital Inc. (NASDAQ:TRIN - Free Report) by 14.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,301,090 shares of the company's stock after purchasing an additional 162,905 shares during the period. Van ECK Associates Corp owned about 2.63% of Trinity Capital worth $17,902,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. International Assets Investment Management LLC acquired a new stake in shares of Trinity Capital in the second quarter valued at about $35,000. Blue Trust Inc. increased its position in Trinity Capital by 522.1% during the 3rd quarter. Blue Trust Inc. now owns 7,714 shares of the company's stock valued at $109,000 after purchasing an additional 6,474 shares during the period. Paloma Partners Management Co acquired a new stake in Trinity Capital during the 1st quarter valued at approximately $150,000. MQS Management LLC acquired a new position in Trinity Capital in the second quarter valued at $152,000. Finally, Wealth Enhancement Advisory Services LLC grew its stake in 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 purchasing an additional 918 shares during the period. Institutional investors and hedge funds own 24.62% of the company's stock.

Trinity Capital Stock Up 2.2 %

Trinity Capital stock traded up $0.30 during mid-day trading on Wednesday, hitting $13.67. The company had a trading volume of 584,071 shares, compared to its average volume of 491,576. Trinity Capital Inc. has a 12 month low of $13.05 and a 12 month high of $15.44. The company has a market capitalization of $805.25 million, a PE ratio of 7.82 and a beta of 0.55. The stock's 50 day moving average price is $13.84 and its two-hundred day moving average price is $14.31. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.07.

Trinity Capital (NASDAQ:TRIN - Get Free Report) last released its quarterly earnings results 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 40.73% and a return on equity of 15.90%. The business had revenue of $54.64 million for the quarter, compared to analysts' expectations of $53.17 million. During the same period in the previous year, the company earned $0.58 EPS. As a group, sell-side analysts anticipate that Trinity Capital Inc. will post 2.09 earnings per share for the current fiscal year.

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 given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 14.92%. The ex-dividend date was Monday, September 30th. Trinity Capital's dividend payout ratio is 119.30%.

Analysts Set New Price Targets

Separately, Wells Fargo & Company lowered their price objective on 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.

Insiders Place Their Bets

In other news, Director Ronald E. Estes acquired 2,000 shares of Trinity Capital stock in a transaction on Friday, November 1st. The shares were bought at an average cost of $13.59 per share, for a total transaction of $27,180.00. Following the acquisition, the director now directly owns 25,836 shares of the company's stock, valued at $351,111.24. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Director Ronald E. Estes purchased 2,000 shares of the business's stock in a transaction on Friday, November 1st. The shares were acquired at an average cost of $13.59 per share, with a total value of $27,180.00. Following the completion of the acquisition, the director now owns 25,836 shares of the company's stock, valued at $351,111.24. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Steve Louis Brown acquired 19,350 shares of the business's stock in a transaction dated 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 acquisition, the chairman now owns 722,182 shares of the company's stock, valued at approximately $9,475,027.84. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 35,299 shares of company stock valued at $471,608 over the last three months. 6.38% of the stock is owned by company insiders.

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.