Seneca House Advisors Invests $367,000 in Chicago Atlantic BDC, Inc. $LIEN

Key Points

• Seneca House Advisors has acquired 35,491 shares of Chicago Atlantic BDC, Inc. for approximately $367,000, making up 0.16% of the company's total shares as of the latest reporting period.
• Zacks Research has upgraded Chicago Atlantic BDC to a "hold" rating, contributing to a consensus "hold" rating from several analysts.
• The company has declared a quarterly dividend of $0.34 per share, which indicates an annualized yield of 12.4%.

Seneca House Advisors purchased a new stake in Chicago Atlantic BDC, Inc. (NASDAQ:LIEN - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 35,491 shares of the company's stock, valued at approximately $367,000. Seneca House Advisors owned 0.16% of Chicago Atlantic BDC at the end of the most recent reporting period.

Chicago Atlantic BDC Stock Performance

NASDAQ:LIEN traded down $0.30 during trading hours on Friday, reaching $10.82. The company's stock had a trading volume of 288,341 shares, compared to its average volume of 42,771. The firm has a market capitalization of $246.91 million, a price-to-earnings ratio of 29.24 and a beta of 0.28. The firm has a 50-day simple moving average of $10.62 and a 200-day simple moving average of $10.59. Chicago Atlantic BDC, Inc. has a 1 year low of $9.70 and a 1 year high of $13.38.

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

Chicago Atlantic BDC Dividend Announcement

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

Analysts Set New Price Targets

Separately, Zacks Research raised shares of Chicago Atlantic BDC to a "hold" rating in a report on Wednesday, August 20th. Three investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Chicago Atlantic BDC presently has a consensus rating of "Hold".

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.