Chicago Atlantic BDC, Inc. (NASDAQ:LIEN) Short Interest Down 81.3% in September

Key Points

• Short interest in Chicago Atlantic BDC, Inc. decreased by 81.3% in September, with 2,700 shares sold short compared to 14,400 in August, representing approximately 0.0% of the company's stock.
• The company announced a quarterly dividend of $0.34 per share, resulting in a 12.6% dividend yield, with the ex-dividend date being September 29th.
• Chicago Atlantic BDC's stock trade volume was 2,365 shares with a recent price of $10.82, and the company reported a net margin of 21.50% in its latest earnings results.

Chicago Atlantic BDC, Inc. (NASDAQ:LIEN - Get Free Report) saw a large decrease in short interest in September. As of September 15th, there was short interest totaling 2,700 shares, a decrease of 81.3% from the August 31st total of 14,400 shares. Approximately 0.0% of the company's stock are sold short. Based on an average daily trading volume, of 45,300 shares, the days-to-cover ratio is currently 0.1 days. Based on an average daily trading volume, of 45,300 shares, the days-to-cover ratio is currently 0.1 days. Approximately 0.0% of the company's stock are sold short.

Analyst Upgrades and Downgrades

Separately, Zacks Research upgraded shares of Chicago Atlantic BDC to a "hold" rating in a report on Wednesday, August 20th. Three research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock has an average rating of "Hold".

Chicago Atlantic BDC Stock Performance

Shares of NASDAQ:LIEN traded up $0.32 during trading hours on Wednesday, reaching $10.82. The stock had a trading volume of 2,365 shares, compared to its average volume of 29,952. Chicago Atlantic BDC has a 1 year low of $9.70 and a 1 year high of $13.38. The firm's 50 day moving average is $10.69 and its 200-day moving average is $10.57. The stock has a market capitalization of $246.92 million, a price-to-earnings ratio of 29.24 and a beta of 0.28.

Chicago Atlantic BDC (NASDAQ:LIEN - Get Free Report) last posted its earnings results on Thursday, August 14th. The company reported $0.34 EPS for the quarter, missing analysts' consensus estimates of $0.36 by ($0.02). The company had revenue of $13.08 million during the quarter, compared to analysts' expectations of $13.10 million. Chicago Atlantic BDC had a net margin of 21.50% and a return on equity of 3.25%. Analysts forecast that Chicago Atlantic BDC will post 0.76 EPS for the current year.

Chicago Atlantic BDC Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Monday, September 29th will be given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 12.6%. The ex-dividend date of this dividend is Monday, September 29th. Chicago Atlantic BDC's dividend payout ratio (DPR) is 367.57%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Sage Mountain Advisors LLC purchased a new position in shares of Chicago Atlantic BDC in the 2nd quarter valued at $106,000. Bernardo Wealth Planning LLC purchased a new position in shares of Chicago Atlantic BDC in the 2nd quarter valued at $106,000. Westwood Holdings Group Inc. purchased a new position in Chicago Atlantic BDC during the 2nd quarter worth $111,000. XTX Topco Ltd purchased a new position in Chicago Atlantic BDC during the 2nd quarter worth $112,000. Finally, Mesirow Financial Investment Management Inc. purchased a new position in Chicago Atlantic BDC during the 2nd quarter worth $129,000. 4.36% of the stock is owned by hedge funds and other institutional investors.

About Chicago Atlantic BDC

Chicago Atlantic BDC Inc is a specialty finance company which has elected to be regulated as a business development company. Its investment objective is to maximize risk-adjusted returns on equity for its stockholders by investing primarily in direct loans to privately held middle-market companies, with a primary focus on cannabis companies.

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