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

Van ECK Associates Corp raised its position in Trinity Capital Inc. (NASDAQ:TRIN - Free Report) by 14.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 796,132 shares of the company's stock after acquiring an additional 103,476 shares during the quarter. Van ECK Associates Corp owned approximately 1.82% of Trinity Capital worth $11,568,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Melia Wealth LLC acquired a new stake in Trinity Capital in the 4th quarter valued at about $14,675,000. Soros Fund Management LLC acquired a new position in Trinity Capital in the 3rd quarter valued at about $4,555,000. Legacy Capital Wealth Partners LLC acquired a new position in Trinity Capital in the 4th quarter valued at about $1,487,000. Quadrature Capital Ltd acquired a new stake in Trinity Capital during the third quarter worth approximately $1,241,000. Finally, Barclays PLC bought a new stake in shares of Trinity Capital during the third quarter worth approximately $1,174,000. Institutional investors own 24.62% of the company's stock.

Insider Activity

In other news, CEO Kyle Steven Brown acquired 3,354 shares of Trinity Capital stock in a transaction that occurred on Thursday, March 14th. The shares were acquired at an average price of $14.91 per share, for a total transaction of $50,008.14. Following the transaction, the chief executive officer now directly owns 821,477 shares of the company's stock, valued at approximately $12,248,222.07. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 7.75% of the stock is owned by corporate insiders.

Trinity Capital Price Performance

Trinity Capital stock traded up $0.15 during midday trading on Friday, reaching $14.63. The company's stock had a trading volume of 386,297 shares, compared to its average volume of 512,513. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.08. The stock has a market cap of $719.06 million, a PE ratio of 8.99 and a beta of 0.60. Trinity Capital Inc. has a 52 week low of $11.32 and a 52 week high of $15.44. The business has a 50-day moving average price of $14.66 and a 200-day moving average price of $14.50.

Trinity Capital (NASDAQ:TRIN - Get Free Report) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.03). The company had revenue of $50.45 million for the quarter, compared to the consensus estimate of $50.09 million. Trinity Capital had a net margin of 36.12% and a return on equity of 17.27%. During the same period last year, the firm posted $0.52 earnings per share. On average, sell-side analysts predict that Trinity Capital Inc. will post 2.21 EPS for the current year.

Trinity Capital Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were issued a dividend of $0.51 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This is an increase from Trinity Capital's previous quarterly dividend of $0.50. This represents a $2.04 annualized dividend and a dividend yield of 13.94%. Trinity Capital's dividend payout ratio is 126.71%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on TRIN shares. UBS Group boosted their target price on shares of Trinity Capital from $16.00 to $16.50 and gave the company a "buy" rating in a research report on Monday, March 18th. B. Riley dropped their price target on Trinity Capital from $16.50 to $16.00 and set a "buy" rating for the company in a research note on Thursday. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Trinity Capital has an average rating of "Moderate Buy" and a consensus target price of $15.50.

Trinity Capital Company 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.