Emerald Advisers LLC Increases Stake in Trinity Capital Inc. (NASDAQ:TRIN)

Emerald Advisers LLC has increased its stake in Trinity Capital Inc. (NASDAQ:TRIN) by 11.3% during the third quarter, as reported in the company’s latest 13F filing with the Securities and Exchange Commission. After acquiring an additional 82,001 shares during this period, Emerald Advisers LLC now owns a total of 804,942 shares. This stake represents approximately 1.63% of Trinity Capital, with a total value of around $10,923,000 reported at the end of the latest reporting period.

A variety of other institutional investors have also adjusted their holdings in Trinity Capital. For instance, International Assets Investment Management LLC added a new position during the second quarter valued at $35,000. Blue Trust Inc. greatly increased its holdings by 522.1% in the third quarter, now owning 7,714 shares worth $109,000 after purchasing an additional 6,474 shares. Paloma Partners Management Co also acquired a new stake earlier in the year valued at $150,000, along with MQS Management LLC, which reported a new position during the second quarter worth $152,000. Wealth Enhancement Advisory Services LLC increased its holdings by 9.0% in the third quarter and now owns 11,173 shares valued at $152,000 after acquiring 918 additional shares. In total, institutional investors and hedge funds own 24.62% of Trinity Capital’s stock.

Price Target Adjustments by Analysts

In separate news, Wells Fargo & Company revised their price target for Trinity Capital shares, decreasing it from $14.00 to $13.00 and assigning an "equal weight" rating to the stock.

Insider Activity within Trinity Capital

On another note, CEO Kyle Steven Brown purchased 3,500 company shares on August 13th at an average price of $14.15 per share, resulting in a total investment of $49,525. Following this transaction, CEO Brown now directly owns 975,298 shares in the company, valued at approximately $13,800,466.70. This acquisition showcased no change in his ownership percentage. The filing of this trade with the Securities & Exchange Commission is available for public inspection. Over the past three months, insiders have bought a total of 5,597 shares worth $78,913, resulting in insiders currently owning 6.38% of the stock.

Trinity Capital Stock Overview

Trinity Capital’s stock witnessed a decline of $0.43, closing at $13.35 on Friday. The stock traded a volume of 1,105,093 shares, surpassing its average volume of 487,404. Its 50-day and 200-day simple moving averages are $13.87 and $14.32, respectively. The company exhibits a debt-to-equity ratio of 0.07, a quick ratio of 0.11, and a current ratio of 0.05. Over the last year, the stock has experienced a low of $13.27 and a high of $15.44. As it stands, Trinity Capital Inc. has a market capitalization of $786.45 million, a P/E ratio of 7.81, and a beta of 0.55.

Trinity Capital, which last reported its quarterly earnings on August 7th, announced an earnings per share (EPS) of $0.51. This figure fell short of the analysts' consensus estimate of $0.53 by $0.02. The company recorded a return on equity of 15.90%, alongside a net margin of 40.73%. In terms of revenue, Trinity Capital generated $54.64 million for the quarter, exceeding analysts’ expectations of $53.17 million. Compared to the same quarter last year, when the EPS was $0.58, analysts are now projecting an EPS of 2.09 for the ongoing fiscal year.

Trinity Capital’s Dividend Update

Recently, Trinity Capital declared a quarterly dividend, which was distributed on October 15th. The dividend of $0.51 was awarded to stockholders of record as of September 30th. This dividend represents an annualized yield of 15.28%, with a payout ratio currently at 119.30%.

About Trinity Capital

Trinity Capital Inc. operates as a business development company, primarily focused on providing venture debt to growth-stage companies seeking financing solutions, such as loans and equipment financing. Founded in 2019, Trinity Capital is headquartered in Phoenix, Arizona, with additional offices located across the United States.

Emerald, Trinity, Investors