Van ECK Associates Corp Buys 162,905 Shares of Trinity Capital Inc. (NASDAQ:TRIN)

Van ECK Associates Corp boosted its stake in Trinity Capital Inc. (NASDAQ:TRIN) by 14.3% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 1,301,090 shares of the company’s stock after buying an additional 162,905 shares during the period. Van ECK Associates Corp’s holdings in Trinity Capital were worth $17,902,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of TRIN. Confluence Investment Management LLC boosted its stake in shares of Trinity Capital by 1.3% in the 2nd quarter. Confluence Investment Management LLC now owns 57,651 shares of the company’s stock valued at $815,000 after purchasing an additional 758 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in Trinity Capital by 9.0% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 11,173 shares of the company’s stock valued at $152,000 after buying an additional 918 shares in the last quarter. PFG Investments LLC grew its stake in Trinity Capital by 12.9% during the third quarter. PFG Investments LLC now owns 12,326 shares of the company’s stock worth $167,000 after buying an additional 1,411 shares during the last quarter. Cornerstone Wealth Management LLC increased its holdings in shares of Trinity Capital by 9.5% during the third quarter. Cornerstone Wealth Management LLC now owns 22,798 shares of the company’s stock worth $309,000 after buying an additional 1,983 shares in the last quarter. Finally, International Assets Investment Management LLC bought a new position in shares of Trinity Capital in the second quarter valued at approximately $35,000. 24.62% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Wells Fargo & Company dropped their price target on Trinity Capital from $14.00 to $13.00 and set an “equal weight” rating for the company in a report on Tuesday, October 29th.

Trinity Capital Trading Up 2.0 %

Shares of NASDAQ TRIN opened at $13.37 on Wednesday. Trinity Capital Inc. has a 1-year low of $13.05 and a 1-year high of $15.44. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.07. The company has a 50-day moving average of $13.85 and a two-hundred day moving average of $14.31. The company has a market cap of $787.63 million, a PE ratio of 7.80 and a beta of 0.55.

Trinity Capital (NASDAQ:TRIN) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.02). The firm had revenue of $54.64 million for the quarter, compared to analyst estimates of $53.17 million. Trinity Capital had a return on equity of 15.90% and a net margin of 40.73%. During the same period in the prior year, the company posted $0.58 EPS. As a group, equities analysts expect that Trinity Capital Inc. will post 2.09 earnings per share for the current fiscal year.

Trinity Capital Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 15.26%. The ex-dividend date of this dividend was Monday, September 30th. Trinity Capital’s dividend payout ratio is 119.30%.

Insider Buying and Selling

In other Trinity Capital news, Director Ronald E. Estes bought 2,000 shares of the business’s 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 transaction, the director now owns 25,836 shares in the company, valued at approximately $351,111.24. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Kyle Steven Brown acquired 3,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The stock was acquired at an average cost of $14.15 per share, with a total value of $49,525.00. Following the completion of the purchase, the chief executive officer now directly owns 975,298 shares in the company, valued at approximately $13,800,466.70. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ronald E. Estes bought 2,000 shares of the business’s stock in a transaction on Friday, November 1st. The stock was bought at an average cost of $13.59 per share, for a total transaction of $27,180.00. Following the purchase, the director now directly owns 25,836 shares of the company’s stock, valued at approximately $351,111.24. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 15,159 shares of company stock worth $207,348 over the last three months. 6.38% of the stock is currently owned by company insiders.

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.