Van ECK Associates Corp Boosts Stake in Trinity Capital Inc. $TRIN

Van ECK Associates Corp grew its position in shares of Trinity Capital Inc. (NASDAQ:TRIN) by 39.3% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 2,153,437 shares of the company’s stock after buying an additional 607,988 shares during the quarter. Van ECK Associates Corp’s holdings in Trinity Capital were worth $38,525,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TRIN. Goldman Sachs Group Inc. grew its holdings in shares of Trinity Capital by 609.9% in the first quarter. Goldman Sachs Group Inc. now owns 136,672 shares of the company’s stock valued at $2,072,000 after acquiring an additional 117,420 shares in the last quarter. Empowered Funds LLC purchased a new stake in shares of Trinity Capital during the first quarter valued at approximately $234,000. JPMorgan Chase & Co. bought a new stake in Trinity Capital during the second quarter worth $54,000. Invesco Ltd. lifted its holdings in Trinity Capital by 2.7% during the second quarter. Invesco Ltd. now owns 838,194 shares of the company’s stock worth $11,793,000 after acquiring an additional 21,729 shares during the period. Finally, Marshall Wace LLP purchased a new position in Trinity Capital in the second quarter worth $346,000. Hedge funds and other institutional investors own 24.62% of the company’s stock.

Trinity Capital Stock Down 0.1%

TRIN opened at $18.55 on Monday. Trinity Capital Inc. has a twelve month low of $14.13 and a twelve month high of $18.90. The company’s 50-day moving average price is $17.79 and its two-hundred day moving average price is $16.51. The stock has a market cap of $1.76 billion, a price-to-earnings ratio of 9.81 and a beta of 0.61.

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

Trinity Capital Dividend Announcement

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

Analyst Ratings Changes

A number of brokerages have issued reports on TRIN. Wells Fargo & Company upped their price objective on Trinity Capital from $13.50 to $15.00 and gave the company an “underweight” rating in a research note on Thursday, May 7th. Keefe, Bruyette & Woods lifted their target price on Trinity Capital from $16.00 to $16.50 and gave the stock a “market perform” rating in a research note on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Trinity Capital has an average rating of “Moderate Buy” and an average target price of $16.67.

Insider Transactions at Trinity Capital

In other news, CEO Kyle Steven Brown bought 2,296 shares of the firm’s stock in a transaction on Friday, August 7th. The stock was acquired at an average cost of $18.04 per share, with a total value of $41,419.84. Following the completion of the transaction, the chief executive officer directly owned 612,262 shares of the company’s stock, valued at $11,045,206.48. This represents a 0.38% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 4.25% of the stock is owned by corporate insiders.

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.