Chicago Atlantic BDC (NASDAQ:LIEN) CIO Purchases 1,520 Shares

Key Points

• Insider buying: CIO Scott Gordon purchased 1,520 Chicago Atlantic BDC shares for $15,367, increasing his position by 1.75% to 88,323 shares. He also bought more than 44,000 shares in several transactions earlier in August.
• Dividend: The company declared a quarterly dividend of $0.34 per share, equivalent to an annualized $1.36 payout and a 13.4% yield. The dividend is payable October 9 to shareholders of record on September 25.
• Mixed operating and market signals: LIEN traded near $10.15, while its latest quarterly EPS and revenue came in below analyst expectations. The stock carries a consensus “Hold” rating after Zacks Research downgraded it from “Strong Buy.”

Chicago Atlantic BDC, Inc. (NASDAQ:LIEN - Get Free Report) CIO Scott Gordon bought 1,520 shares of the firm's stock in a transaction on Monday, August 24th. The stock was acquired at an average cost of $10.11 per share, with a total value of $15,367.20. Following the completion of the purchase, the executive owned 88,323 shares of the company's stock, valued at approximately $892,945.53. This trade represents a 1.75% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Scott Gordon also recently made the following trade(s):

• On Friday, August 21st, Scott Gordon acquired 195 shares of Chicago Atlantic BDC stock. The shares were acquired at an average price of $9.95 per share, for a total transaction of $1,940.25.
• On Wednesday, August 19th, Scott Gordon acquired 8,200 shares of Chicago Atlantic BDC stock. The stock was acquired at an average price of $9.57 per share, with a total value of $78,474.00.
• On Tuesday, August 18th, Scott Gordon acquired 17,584 shares of Chicago Atlantic BDC stock. The stock was acquired at an average price of $9.54 per share, with a total value of $167,751.36.
• On Monday, August 17th, Scott Gordon bought 18,300 shares of Chicago Atlantic BDC stock. The shares were bought at an average price of $9.54 per share, for a total transaction of $174,582.00.

Chicago Atlantic BDC Price Performance

LIEN traded up $0.14 during trading on Monday, reaching $10.15. The company had a trading volume of 80,406 shares, compared to its average volume of 72,479. Chicago Atlantic BDC, Inc. has a 12 month low of $8.92 and a 12 month high of $11.44. The business's fifty day moving average price is $9.74 and its 200 day moving average price is $9.75. The company has a market cap of $231.63 million, a P/E ratio of 7.30 and a beta of 0.28.

Chicago Atlantic BDC (NASDAQ:LIEN - Get Free Report) last issued its quarterly earnings data on Thursday, August 13th. The company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.06). The company had revenue of $13.97 million for the quarter, compared to the consensus estimate of $16.23 million. Chicago Atlantic BDC had a return on equity of 11.66% and a net margin of 52.82%. As a group, sell-side analysts predict that Chicago Atlantic BDC, Inc. will post 1.64 EPS for the current fiscal year.

Chicago Atlantic BDC Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Friday, September 25th will be issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 13.4%. The ex-dividend date is Friday, September 25th. Chicago Atlantic BDC's payout ratio is 97.84%.

Institutional Investors Weigh In On Chicago Atlantic BDC

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Corient Private Wealth LLC increased its position in shares of Chicago Atlantic BDC by 9.9% in the fourth quarter. Corient Private Wealth LLC now owns 382,865 shares of the company's stock valued at $3,955,000 after acquiring an additional 34,423 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Chicago Atlantic BDC by 227.7% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 195,884 shares of the company's stock worth $2,057,000 after purchasing an additional 136,110 shares during the last quarter. Corient Private Wealth LP bought a new stake in shares of Chicago Atlantic BDC during the 2nd quarter worth approximately $1,845,000. Partners Capital Investment Group LLP bought a new stake in shares of Chicago Atlantic BDC during the 2nd quarter worth approximately $1,420,000. Finally, Northeast Financial Consultants Inc acquired a new stake in shares of Chicago Atlantic BDC in the 2nd quarter valued at approximately $851,000. 4.36% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Chicago Atlantic BDC Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source