Key Points
- Major shareholder John Mazarakis purchased 60,000 Chicago Atlantic BDC shares at an average price of $9.44, representing a $566,400 investment and giving him ownership of 60,000 shares.
- Chicago Atlantic BDC reported quarterly EPS of $0.34 and revenue of $13.97 million, missing analyst estimates of $0.40 EPS and $16.23 million in revenue.
- The company declared a quarterly dividend of $0.34, or $1.36 annualized, yielding approximately 13.9%; analysts currently have an average “Hold” rating on the stock.
Chicago Atlantic BDC, Inc. (NASDAQ:LIEN - Get Free Report) major shareholder John Mazarakis purchased 60,000 shares of the business's stock in a transaction dated Monday, August 17th. The stock was bought at an average price of $9.44 per share, for a total transaction of $566,400.00. Following the completion of the acquisition, the insider owned 60,000 shares of the company's stock, valued at approximately $566,400. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Large shareholders that own more than 10% of a company's stock are required to disclose their transactions with the SEC.
Chicago Atlantic BDC Price Performance
Shares of NASDAQ:LIEN opened at $9.78 on Friday. The business's 50-day moving average is $9.74 and its 200 day moving average is $9.75. Chicago Atlantic BDC, Inc. has a 1 year low of $8.92 and a 1 year high of $11.44. The firm has a market capitalization of $223.19 million, a P/E ratio of 7.04 and a beta of 0.28.
Chicago Atlantic BDC (NASDAQ:LIEN - Get Free Report) last posted its quarterly earnings data on Thursday, August 13th. The company reported $0.34 EPS for the quarter, missing analysts' consensus estimates of $0.40 by ($0.06). The business had revenue of $13.97 million during the quarter, compared to analysts' expectations of $16.23 million. Chicago Atlantic BDC had a net margin of 52.82% and a return on equity of 11.66%. On average, analysts expect that Chicago Atlantic BDC, Inc. will post 1.64 EPS for the current year.
Chicago Atlantic BDC Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Friday, September 25th will be paid a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 13.9%. The ex-dividend date of this dividend is Friday, September 25th. Chicago Atlantic BDC's payout ratio is currently 97.84%.
Analyst Ratings Changes
Separately, Zacks Research downgraded Chicago Atlantic BDC from a "strong-buy" rating to a "hold" rating in a report on Monday, July 13th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Chicago Atlantic BDC presently has an average rating of "Hold".
Get Our Latest Research Report on LIEN
Institutional Trading of Chicago Atlantic BDC
Several large investors have recently added to or reduced their stakes in the company. Triumph Capital Management raised its position in Chicago Atlantic BDC by 56.2% during the second quarter. Triumph Capital Management now owns 6,725 shares of the company's stock valued at $66,000 after acquiring an additional 2,420 shares in the last quarter. Corient Private Wealth LP bought a new stake in shares of Chicago Atlantic BDC in the 2nd quarter worth about $1,845,000. Partners Capital Investment Group LLP bought a new position in Chicago Atlantic BDC in the 2nd quarter valued at $1,420,000. Compass Financial Management LLC acquired a new position in Chicago Atlantic BDC during the 2nd quarter worth about $104,000. Finally, BlackRock Inc. bought a new stake in shares of Chicago Atlantic BDC during the second quarter valued at approximately $728,000. 4.36% of the stock is owned by institutional investors and hedge funds.
About Chicago Atlantic BDC
(
Get Free Report)
Chicago Atlantic BDC (NASDAQ:LIEN) is a closed-end management investment company organized as a business development company (BDC). It focuses on providing debt and equity financing solutions to U.S. middle-market companies that demonstrate strong growth potential. Through its public listing, the company offers investors exposure to a diversified portfolio of private credit and equity investments aimed at delivering attractive risk-adjusted returns.
The company's investment strategy centers on structuring customized credit facilities, including senior secured loans, unitranche loans, mezzanine debt and equity co-investments.
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