Emerald Mutual Fund Advisers Trust Sells 9,696 Shares of Trinity Capital Inc. (NASDAQ:TRIN)

Emerald Mutual Fund Advisers Trust cut its stake in Trinity Capital Inc. (NASDAQ:TRIN) by 1.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 671,448 shares of the company’s stock after selling 9,696 shares during the period. Emerald Mutual Fund Advisers Trust owned about 1.36% of Trinity Capital worth $9,112,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of TRIN. Confluence Investment Management LLC raised its stake in Trinity Capital by 1.3% during the second quarter. Confluence Investment Management LLC now owns 57,651 shares of the company’s stock worth $815,000 after acquiring an additional 758 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Trinity Capital by 9.0% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 11,173 shares of the company’s stock worth $152,000 after purchasing an additional 918 shares in the last quarter. PFG Investments LLC lifted its holdings in Trinity Capital by 12.9% during the 3rd quarter. PFG Investments LLC now owns 12,326 shares of the company’s stock valued at $167,000 after purchasing an additional 1,411 shares during the last quarter. Cornerstone Wealth Management LLC boosted its position in Trinity Capital by 9.5% in the third quarter. Cornerstone Wealth Management LLC now owns 22,798 shares of the company’s stock valued at $309,000 after buying an additional 1,983 shares in the last quarter. Finally, International Assets Investment Management LLC bought a new stake in Trinity Capital during the second quarter worth about $35,000. Institutional investors own 24.62% of the company’s stock.

Trinity Capital Stock Performance

Trinity Capital stock opened at $13.35 on Friday. The stock has a 50-day simple moving average of $13.87 and a 200 day simple moving average of $14.32. The stock has a market capitalization of $786.45 million, a price-to-earnings ratio of 7.81 and a beta of 0.55. The company has a quick ratio of 0.11, a current ratio of 0.05 and a debt-to-equity ratio of 0.07. Trinity Capital Inc. has a 12-month low of $13.27 and a 12-month high of $15.44.

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

Trinity Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a $0.51 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $2.04 dividend on an annualized basis and a yield of 15.28%. Trinity Capital’s payout ratio is 119.30%.

Wall Street Analysts Forecast Growth

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

Insider Activity

In other news, CEO Kyle Steven Brown purchased 3,500 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were acquired at an average price 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 of the company’s stock, valued at $13,800,466.70. The trade was a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last ninety days, insiders bought 5,597 shares of company stock valued at $78,913. Company insiders own 6.38% of the company’s stock.

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.