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

Van ECK Associates Corp raised its stake in Trinity Capital Inc. (NASDAQ:TRIN) by 14.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 911,266 shares of the company’s stock after purchasing an additional 115,134 shares during the period. Van ECK Associates Corp owned 1.96% of Trinity Capital worth $13,377,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Confluence Investment Management LLC acquired a new stake in Trinity Capital in the first quarter worth about $835,000. Legacy Capital Wealth Partners LLC acquired a new stake in Trinity Capital in the fourth quarter worth about $1,487,000. Quadrature Capital Ltd acquired a new stake in Trinity Capital in the third quarter worth about $1,241,000. Cornerstone Wealth Management LLC acquired a new stake in Trinity Capital in the fourth quarter worth about $172,000. Finally, Private Advisor Group LLC boosted its holdings in Trinity Capital by 2.8% in the fourth quarter. Private Advisor Group LLC now owns 34,735 shares of the company’s stock worth $505,000 after acquiring an additional 933 shares in the last quarter. Hedge funds and other institutional investors own 24.62% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on TRIN shares. B. Riley decreased their target price on Trinity Capital from $16.50 to $16.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. UBS Group lifted their target price on Trinity Capital from $16.00 to $16.50 and gave the stock a “buy” rating in a report on Monday, March 18th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Trinity Capital has an average rating of “Moderate Buy” and an average target price of $15.50.

Trinity Capital Stock Performance

TRIN stock traded down $0.19 during trading on Friday, hitting $14.13. 283,932 shares of the company traded hands, compared to its average volume of 475,274. The stock’s 50-day simple moving average is $14.79 and its 200 day simple moving average is $14.61. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.06 and a quick ratio of 0.06. The company has a market cap of $699.14 million, a PE ratio of 8.86 and a beta of 0.56. Trinity Capital Inc. has a 1 year low of $13.21 and a 1 year high of $15.44.

Trinity Capital (NASDAQ:TRIN) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $0.52 earnings per share 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 analysts’ expectations of $50.09 million. Trinity Capital had a net margin of 36.12% and a return on equity of 16.73%. During the same quarter in the prior year, the business posted $0.52 earnings per share. On average, equities analysts expect that Trinity Capital Inc. will post 2.14 earnings per share for the current fiscal year.

Trinity Capital Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 14.44%. The ex-dividend date of this dividend is Friday, June 28th. Trinity Capital’s dividend payout ratio is currently 126.71%.

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.