Van ECK Associates Corp Purchases 607,988 Shares of Trinity Capital Inc. $TRIN

Key Points

• Van ECK Associates increased its Trinity Capital position by 39.3% in the second quarter, acquiring 607,988 shares for a total holding of 2.15 million shares valued at approximately $38.5 million. Institutional investors now own 24.62% of the company.
• Analysts maintain a “Moderate Buy” consensus rating with an average price target of $16.67, despite Trinity Capital’s latest quarterly earnings and revenue falling slightly below estimates.
• Trinity Capital declared a monthly dividend of $0.17 per share, representing an annualized yield of about 11.0%; CEO Kyle Steven Brown also purchased 2,296 shares in August.

Van ECK Associates Corp raised its position in Trinity Capital Inc. (NASDAQ:TRIN - Free Report) by 39.3% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 2,153,437 shares of the company's stock after acquiring an additional 607,988 shares during the period. Van ECK Associates Corp owned approximately 2.27% of Trinity Capital worth $38,525,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Kingsview Wealth Management LLC bought a new stake in shares of Trinity Capital during the second quarter valued at approximately $476,000. Beacon Pointe Advisors LLC acquired a new stake in Trinity Capital in the 2nd quarter valued at $1,287,000. Comprehensive Money Management Services LLC acquired a new stake in Trinity Capital in the 2nd quarter valued at $316,000. United Capital Financial Advisors LLC bought a new stake in Trinity Capital during the 2nd quarter valued at $486,000. Finally, Melia Wealth LLC bought a new stake in Trinity Capital during the 2nd quarter valued at $24,221,000. Institutional investors own 24.62% of the company's stock.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Wells Fargo & Company upped their price objective on shares of Trinity Capital from $13.50 to $15.00 and gave the stock an "underweight" rating in a report on Thursday, May 7th. Keefe, Bruyette & Woods lifted their price objective on shares of Trinity Capital from $16.00 to $16.50 and gave the company a "market perform" rating in a report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $16.67.

Trinity Capital Stock Down 0.1%

Shares of Trinity Capital stock opened at $18.55 on Monday. The company has a market cap of $1.76 billion, a PE ratio of 9.81 and a beta of 0.61. Trinity Capital Inc. has a 52 week low of $14.13 and a 52 week high of $18.90. The business has a 50 day moving average price of $17.79 and a 200-day moving average price of $16.51.

Trinity Capital (NASDAQ:TRIN - Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported $0.51 earnings per share for the quarter, missing analysts' consensus estimates of $0.52 by ($0.01). The company had revenue of $87.17 million during the quarter, compared to the consensus estimate of $91.44 million. Trinity Capital had a net margin of 43.45% and a return on equity of 14.94%. As a group, research analysts anticipate that Trinity Capital Inc. will post 2.1 EPS for the current year.

Trinity Capital Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Thursday, September 10th will be paid a dividend of $0.17 per share. The ex-dividend date is Thursday, September 10th. This represents a c) annualized dividend and a yield of 11.0%. Trinity Capital's dividend payout ratio (DPR) is 116.57%.

Insiders Place Their Bets

In related news, CEO Kyle Steven Brown acquired 2,296 shares of the company's stock in a transaction on Friday, August 7th. The shares were acquired at an average cost of $18.04 per share, for a total transaction of $41,419.84. Following the purchase, the chief executive officer owned 612,262 shares in the company, valued at approximately $11,045,206.48. The trade was a 0.38% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 4.25% of the company's stock.

About Trinity Capital

Trinity Capital Corporation NASDAQ: TRIN is a publicly traded business development company that provides flexible financing solutions to venture-backed and growth-stage companies. As a venture lender, Trinity Capital offers customized capital structures, including secured debt and equity co-investment, designed to support companies that have progressed beyond early-stage funding but still require non-dilutive growth capital.

The company focuses its investments on technology-driven sectors such as software, fintech, healthcare, life sciences and cleantech.

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