Chicago Atlantic BDC, Inc. (NASDAQ:LIEN) Sees Large Decline in Short Interest

Chicago Atlantic BDC, Inc. (NASDAQ:LIEN) saw a significant drop in short interest in the month of July. As of July 15th, there was short interest totaling 79,289 shares, a drop of 31.7% from the June 30th total of 116,091 shares. Based on an average trading volume of 74,335 shares, the days-to-cover ratio is presently 1.1 days. Currently, 0.4% of the shares of the stock are sold short.

Chicago Atlantic BDC Price Performance

Shares of Chicago Atlantic BDC stock opened at $9.24 on Friday. Chicago Atlantic BDC has a 1 year low of $8.92 and a 1 year high of $11.44. The firm has a market cap of $210.86 million, a PE ratio of 6.16 and a beta of 0.27. The company has a 50 day simple moving average of $9.85 and a two-hundred day simple moving average of $9.86.

Chicago Atlantic BDC (NASDAQ:LIEN) last issued its quarterly earnings results on Thursday, May 14th. The company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.08. Chicago Atlantic BDC had a net margin of 57.88% and a return on equity of 11.67%. The firm had revenue of $16.70 million for the quarter, compared to analyst estimates of $14.31 million. As a group, research analysts anticipate that Chicago Atlantic BDC will post 1.64 earnings per share for the current year.

Chicago Atlantic BDC Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Friday, June 26th were given a dividend of $0.34 per share. The ex-dividend date was Friday, June 26th. This represents a $1.36 dividend on an annualized basis and a yield of 14.7%. Chicago Atlantic BDC’s dividend payout ratio (DPR) is presently 90.67%.

Analyst Ratings Changes

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

Hedge Funds Weigh In On Chicago Atlantic BDC

Several institutional investors have recently modified their holdings of LIEN. Triumph Capital Management bought a new stake in Chicago Atlantic BDC in the 4th quarter worth approximately $32,000. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Chicago Atlantic BDC during the fourth quarter worth approximately $63,000. SteelPeak Wealth LLC bought a new stake in shares of Chicago Atlantic BDC in the 4th quarter worth approximately $110,000. Westwood Holdings Group Inc. bought a new stake in shares of Chicago Atlantic BDC in the 2nd quarter worth approximately $111,000. Finally, XTX Topco Ltd purchased a new stake in shares of Chicago Atlantic BDC in the 2nd quarter valued at $112,000. 4.36% of the stock is currently owned by institutional investors.

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.