Emerald Advisers LLC Increases Stake in Trinity Capital Inc.

Emerald Advisers LLC has increased its stake in Trinity Capital Inc. (NASDAQ:TRIN - Free Report) by 11.3% during the third quarter, as stated in its latest filing with the Securities and Exchange Commission (SEC). After purchasing an additional 82,001 shares, the institutional investor now owns a total of 804,942 shares of Trinity Capital. This investment is valued at approximately $10,923,000, representing about 1.63% ownership of the company at the end of the reported period.

A variety of other institutional investors have also adjusted their holdings in Trinity Capital. International Assets Investment Management LLC initiated a new investment in the company during the second quarter with a contribution of $35,000. Blue Trust Inc. significantly increased its ownership by 522.1% in the third quarter, bringing its total to 7,714 shares valued at $109,000 after acquiring 6,474 additional shares in the previous quarter. Additionally, Paloma Partners Management Co entered into a new position in Trinity Capital during the first quarter, worth $150,000. Likewise, MQS Management LLC acquired a new stake during the second quarter valued at $152,000. Wealth Enhancement Advisory Services LLC raised its holdings by 9.0% in the third quarter, now owning 11,173 shares worth $152,000 after buying an extra 918 shares. Currently, institutional investors and hedge funds hold 24.62% of Trinity Capital's stock.

New Analyst Price Targets

Separately, analysts at Wells Fargo & Company revised their price target on Trinity Capital shares from $14.00 to $13.00, advising a rating of 'equal weight' for the stock in a report released on October 29th.

Insider Transactions at Trinity Capital

In related news, CEO Kyle Steven Brown purchased 3,500 shares of Trinity Capital's stock on August 13th at an average price of $14.15 per share, totaling $49,525. After this transaction, the CEO directly holds 975,298 shares valued at around $13,800,466.70, reflecting a marginal increase of 0.00% in his position. This acquisition was reported to the SEC and is publicly available. Over the last three months, insiders have bought a total of 5,597 shares valued at $78,913, with insiders holding 6.38% of the company's stock.

Trinity Capital's Stock Performance

On Friday, shares of Trinity Capital traded down by $0.43, reaching a price of $13.35. The trading volume for the stock was 1,105,093 shares, exceeding its average volume of 487,404 shares. The company boasts a 50-day simple moving average of $13.87 and a 200-day moving average of $14.32. With a market capitalization of $786.45 million, Trinity Capital reports a P/E ratio of 7.81 and a beta of 0.55. The company's financial ratios include a debt-to-equity ratio of 0.07, a quick ratio of 0.11, and a current ratio of 0.05, with its stock fluctuating between a yearly low of $13.27 and a high of $15.44.

Trinity Capital Inc. last announced its quarterly earnings on August 7th, reporting earnings per share (EPS) of $0.51, slightly below analysts' expectations of $0.53. The company witnessed a return on equity of 15.90% and a net margin of 40.73%. The revenue reported for the quarter was $54.64 million, surpassing the consensus estimate of $53.17 million. In the previous year, the company had posted an EPS of $0.58. Analysts predict Trinity Capital will post an EPS of 2.09 for the ongoing fiscal year.

Trinity Capital Dividend Announcement

The company has also recently declared a quarterly dividend of $0.51 per share, which was paid on October 15th to stockholders on record as of September 30th. The ex-dividend date was also September 30th, and this annualizes to a total dividend of $2.04, yielding a rate of 15.28%. Currently, Trinity Capital's payout ratio stands at 119.30%.

About Trinity Capital

Trinity Capital Inc. is classified as a business development company focused on providing venture debt to growth-stage companies seeking loans and equipment financing. Founded in 2019, its headquarters are located in Phoenix, Arizona, with additional offices throughout the United States.

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Explore further what other hedge funds hold TRIN shares.

Emerald, Investment, Trinity