Chicago Atlantic BDC, Inc. $LIEN Shares Sold by Corient Private Wealth LP

Key Points

• Corient Private Wealth LP cut its Chicago Atlantic BDC stake by 50.4% in the second quarter, selling 191,885 shares and retaining 188,863 shares valued at approximately $1.85 million. Institutional investors and hedge funds collectively own 4.36% of the company.
• Chicago Atlantic BDC reported quarterly EPS of $0.34, below the $0.40 analyst consensus, while revenue of $13.97 million also missed estimates of $16.23 million. Zacks Research downgraded the stock to “hold,” matching the current consensus rating.
• The company declared a quarterly dividend of $0.34 per share, or $1.36 annualized, representing a 13.1% yield. Insiders have also bought 123,166 shares worth roughly $1.18 million over the past three months.

Corient Private Wealth LP reduced its holdings in Chicago Atlantic BDC, Inc. (NASDAQ:LIEN - Free Report) by 50.4% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 188,863 shares of the company's stock after selling 191,885 shares during the quarter. Corient Private Wealth LP owned approximately 0.83% of Chicago Atlantic BDC worth $1,845,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Corient Private Wealth LLC lifted its holdings in shares of Chicago Atlantic BDC by 9.9% in the 4th quarter. Corient Private Wealth LLC now owns 382,865 shares of the company's stock worth $3,955,000 after purchasing an additional 34,423 shares during the last quarter. Partners Capital Investment Group LLP bought a new position in Chicago Atlantic BDC during the 2nd quarter worth $1,420,000. BlackRock Inc. acquired a new stake in Chicago Atlantic BDC in the second quarter worth $728,000. Venturi Wealth Management LLC acquired a new stake in Chicago Atlantic BDC in the first quarter worth $375,000. Finally, Closed End Fund Advisors Inc. bought a new stake in Chicago Atlantic BDC in the fourth quarter valued at $131,000. 4.36% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Chicago Atlantic BDC Trading Up 0.8%

Shares of NASDAQ LIEN opened at $10.35 on Thursday. Chicago Atlantic BDC, Inc. has a 12-month low of $8.92 and a 12-month high of $11.27. The company has a market cap of $236.20 million, a PE ratio of 7.45 and a beta of 0.30. The stock has a 50 day simple moving average of $9.85 and a 200-day simple moving average of $9.77.

Chicago Atlantic BDC (NASDAQ:LIEN - Get Free Report) last announced its quarterly earnings results on Wednesday, August 12th. The company reported $0.34 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.40 by ($0.06). The business had revenue of $13.97 million for the quarter, compared to analyst estimates of $16.23 million. Chicago Atlantic BDC had a return on equity of 11.66% and a net margin of 52.82%. Sell-side analysts forecast that Chicago Atlantic BDC, Inc. will post 1.64 earnings per share for the current fiscal year.

Chicago Atlantic BDC Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Friday, September 25th will be given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 13.1%. The ex-dividend date is Friday, September 25th. Chicago Atlantic BDC's dividend payout ratio is currently 97.84%.

Insider Activity

In related news, CIO Scott Gordon purchased 18,300 shares of the company's stock in a transaction on Monday, August 17th. The shares were bought at an average cost of $9.54 per share, for a total transaction of $174,582.00. Following the transaction, the executive owned 53,324 shares of the company's stock, valued at $508,710.96. This represents a 52.25% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder John Mazarakis purchased 60,000 shares of the company's stock in a transaction on Monday, August 17th. The shares were bought at an average price of $9.44 per share, for a total transaction of $566,400.00. Following the completion of the transaction, the insider directly owned 60,000 shares in the company, valued at $566,400. This represents a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders have acquired 123,166 shares of company stock worth $1,177,717. 12.90% of the stock is owned by corporate insiders.

Chicago Atlantic BDC Company Profile

Chicago Atlantic BDC, Inc NASDAQ: LIEN is a business development company that provides financing to privately owned and other middle-market businesses. The company seeks to generate current income and, to a lesser extent, capital appreciation through investments in debt and equity securities.

Chicago Atlantic BDC generally invests in businesses that may have limited access to traditional bank financing. Its investment activities can include secured and unsecured loans, subordinated debt, and equity-related investments.

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