Chicago Atlantic BDC (NASDAQ:LIEN) Announces Earnings Results

Chicago Atlantic BDC (NASDAQ:LIEN) posted its quarterly earnings data on Thursday. The company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.07, Zacks reports. The company had revenue of $15.07 billion during the quarter, compared to analyst estimates of $13.46 million. Chicago Atlantic BDC had a net margin of 21.50% and a return on equity of 3.25%.

Chicago Atlantic BDC Stock Up 3.1%

NASDAQ:LIEN opened at $10.35 on Friday. The stock has a fifty day simple moving average of $10.49 and a 200 day simple moving average of $10.41. The firm has a market capitalization of $236.19 million, a price-to-earnings ratio of 27.97 and a beta of 0.27. Chicago Atlantic BDC has a 1-year low of $9.70 and a 1-year high of $13.24.

Institutional Trading of Chicago Atlantic BDC

A number of hedge funds have recently bought and sold shares of the company. Westwood Holdings Group Inc. purchased a new position in shares of Chicago Atlantic BDC in the second quarter worth approximately $111,000. XTX Topco Ltd purchased a new stake in shares of Chicago Atlantic BDC in the 2nd quarter valued at approximately $112,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Chicago Atlantic BDC in the 2nd quarter worth approximately $619,000. Northeast Financial Consultants Inc purchased a new position in Chicago Atlantic BDC during the 2nd quarter worth approximately $851,000. Finally, Corient Private Wealth LLC purchased a new position in Chicago Atlantic BDC during the 2nd quarter worth approximately $2,784,000. 4.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Zacks Research raised shares of Chicago Atlantic BDC to a “hold” rating in a research note on Wednesday, August 20th. Three research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has an average 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.