Chicago Atlantic BDC (NASDAQ:LIEN) Downgraded to Hold Rating by Zacks Research

Zacks Research lowered shares of Chicago Atlantic BDC (NASDAQ:LIEN) from a strong-buy rating to a hold rating in a research note released on Monday,Zacks.com reports.

Chicago Atlantic BDC Stock Performance

LIEN opened at $9.88 on Monday. Chicago Atlantic BDC has a fifty-two week low of $8.92 and a fifty-two week high of $11.44. The company has a market capitalization of $225.46 million, a P/E ratio of 6.59 and a beta of 0.27. The stock has a fifty day moving average of $9.85 and a 200-day moving average of $9.94.

Chicago Atlantic BDC (NASDAQ:LIEN) last issued its quarterly earnings data on Thursday, May 14th. The company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.08. The business had revenue of $16.70 million during the quarter, compared to analysts’ expectations of $14.31 million. Chicago Atlantic BDC had a net margin of 57.88% and a return on equity of 11.67%. On average, equities research analysts predict that Chicago Atlantic BDC will post 1.64 earnings per share for the current fiscal year.

Chicago Atlantic BDC Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Friday, June 26th were paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 13.8%. The ex-dividend date was Friday, June 26th. Chicago Atlantic BDC’s dividend payout ratio is presently 90.67%.

Institutional Trading of Chicago Atlantic BDC

Large investors have recently made changes to their positions in the company. Sowell Financial Services LLC bought a new position in shares of Chicago Atlantic BDC in the fourth quarter worth about $4,940,000. Corient Private Wealth LLC lifted its holdings in shares of Chicago Atlantic BDC by 9.9% during the fourth 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 period. Sage Mountain Advisors LLC increased its holdings in Chicago Atlantic BDC by 29.9% in the fourth quarter. Sage Mountain Advisors LLC now owns 268,088 shares of the company’s stock valued at $2,769,000 after purchasing an additional 61,721 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in 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. Finally, LVM Capital Management Ltd. MI bought a new position in Chicago Atlantic BDC during the 4th quarter worth $1,666,000. Institutional investors and hedge funds own 4.36% of the company’s stock.

About Chicago Atlantic BDC

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.