Chicago Atlantic BDC (NASDAQ:LIEN) Stock Price Up 1.2% – Should You Buy?

Chicago Atlantic BDC, Inc. (NASDAQ:LIEN) traded up 1.2% during trading on Thursday. The stock traded as high as $9.15 and last traded at $9.15. Approximately 111,016 shares changed hands during mid-day trading, an increase of 34% from the average session volume of 83,063 shares. The stock had previously closed at $9.04.

Analysts Set New Price Targets

Separately, Zacks Research cut shares of Chicago Atlantic BDC from a “strong-buy” rating to a “hold” rating in a report on Monday, July 13th. One analyst has rated the stock with a Hold rating. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold”.

Chicago Atlantic BDC Price Performance

The firm has a market capitalization of $208.57 million, a price-to-earnings ratio of 6.58 and a beta of 0.30. The firm has a 50 day moving average price of $9.84 and a 200-day moving average price of $9.72.

Chicago Atlantic BDC (NASDAQ:LIEN) last released its earnings results on Wednesday, August 12th. The company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.06). Chicago Atlantic BDC had a return on equity of 11.66% and a net margin of 52.82%. The company had revenue of $13.97 million for the quarter, compared to analyst estimates of $16.23 million. Equities research analysts predict that Chicago Atlantic BDC, Inc. will post 1.64 earnings per share for the current year.

Chicago Atlantic BDC Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 9th. Stockholders of record on Friday, September 25th were given a dividend of $0.34 per share. The ex-dividend date of this dividend was Friday, September 25th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 14.9%. Chicago Atlantic BDC’s payout ratio is currently 97.84%.

Insider Buying and Selling

In other news, CIO Scott Gordon bought 5,000 shares of Chicago Atlantic BDC stock in a transaction that occurred on Thursday, August 27th. The shares were purchased at an average price of $10.19 per share, with a total value of $50,950.00. Following the completion of the acquisition, the executive directly owned 96,056 shares in the company, valued at $978,810.64. The trade was a 5.49% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder John Mazarakis purchased 60,000 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The stock was purchased at an average price of $9.44 per share, with a total value of $566,400.00. Following the purchase, the insider directly owned 60,000 shares of the company’s stock, valued at $566,400. The trade was a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased 123,166 shares of company stock worth $1,177,717 over the last 90 days. Insiders own 12.90% of the company’s stock.

Institutional Investors Weigh In On Chicago Atlantic BDC

A number of large investors have recently modified their holdings of the company. Triumph Capital Management raised its holdings in shares of Chicago Atlantic BDC by 56.2% in the 2nd quarter. Triumph Capital Management now owns 6,725 shares of the company’s stock valued at $66,000 after purchasing an additional 2,420 shares in the last quarter. Compass Financial Management LLC acquired a new position in shares of Chicago Atlantic BDC during the second quarter worth $104,000. Venturi Wealth Management LLC acquired a new position in shares of Chicago Atlantic BDC during the first quarter worth $375,000. BlackRock Inc. acquired a new position in shares of Chicago Atlantic BDC during the second quarter worth $728,000. Finally, Partners Capital Investment Group LLP purchased a new position in Chicago Atlantic BDC in the second quarter valued at $1,420,000. 4.36% of the stock is owned by hedge funds and other institutional investors.

About Chicago Atlantic BDC

Chicago Atlantic BDC, Inc (NASDAQ: LIEN) is a business development company that provides financing to privately held, lower middle-market businesses. The company seeks to support companies that may have limited access to traditional bank lending by investing in privately negotiated debt and equity securities.

Its investment activities primarily include senior secured loans, unitranche loans, subordinated or second-lien debt, and related equity investments. Chicago Atlantic BDC focuses on generating income from its lending portfolio while also pursuing potential long-term gains through equity and equity-linked investments.

The company is managed by Chicago Atlantic BDC Advisers, LLC, an affiliate of Chicago Atlantic Group, an alternative investment firm.