Apollo Management Holdings L.P. Trims Position in Palmer Square Capital BDC Inc. (NYSE:PSBD)

Apollo Management Holdings L.P. trimmed its holdings in Palmer Square Capital BDC Inc. (NYSE:PSBD - Free Report) by 40.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 77,811 shares of the company's stock after selling 53,799 shares during the quarter. Palmer Square Capital BDC comprises about 0.0% of Apollo Management Holdings L.P.'s investment portfolio, making the stock its 27th biggest holding. Apollo Management Holdings L.P. owned about 0.24% of Palmer Square Capital BDC worth $1,183,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. Franklin Resources Inc. boosted its stake in shares of Palmer Square Capital BDC by 72.0% in the 4th quarter. Franklin Resources Inc. now owns 57,866 shares of the company's stock worth $880,000 after buying an additional 24,232 shares during the last quarter. Hennion & Walsh Asset Management Inc. boosted its stake in Palmer Square Capital BDC by 73.0% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 83,997 shares of the company's stock worth $1,277,000 after purchasing an additional 35,437 shares during the period. Bank of New York Mellon Corp increased its holdings in Palmer Square Capital BDC by 120.3% in the 4th quarter. Bank of New York Mellon Corp now owns 77,878 shares of the company's stock valued at $1,184,000 after acquiring an additional 42,533 shares during the last quarter. Mariner LLC grew its holdings in Palmer Square Capital BDC by 97.7% during the 4th quarter. Mariner LLC now owns 2,275,470 shares of the company's stock valued at $34,587,000 after buying an additional 1,124,766 shares in the last quarter. Finally, Marble Harbor Investment Counsel LLC increased its position in Palmer Square Capital BDC by 24.3% in the fourth quarter. Marble Harbor Investment Counsel LLC now owns 31,950 shares of the company's stock worth $486,000 after purchasing an additional 6,250 shares during the last quarter. 6.52% of the stock is currently owned by hedge funds and other institutional investors.

Palmer Square Capital BDC Trading Down 1.5 %

Shares of NYSE:PSBD traded down $0.20 on Monday, hitting $12.97. 5,846 shares of the company were exchanged, compared to its average volume of 28,028. The stock's 50 day moving average price is $13.85 and its 200 day moving average price is $15.09. Palmer Square Capital BDC Inc. has a 1-year low of $11.89 and a 1-year high of $16.85. The firm has a market capitalization of $422.81 million, a P/E ratio of 6.75 and a beta of 0.63.

Palmer Square Capital BDC Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 10th. Stockholders of record on Friday, March 28th were issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 11.11%. The ex-dividend date was Friday, March 28th. Palmer Square Capital BDC's dividend payout ratio (DPR) is currently 97.30%.

Insider Buying and Selling at Palmer Square Capital BDC

In related news, President Matthew L. Bloomfield purchased 4,000 shares of the company's stock in a transaction that occurred on Thursday, March 6th. The shares were purchased at an average price of $15.48 per share, with a total value of $61,920.00. Following the purchase, the president now owns 41,478 shares of the company's stock, valued at $642,079.44. The trade was a 10.67 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.96% of the company's stock.

Wall Street Analysts Forecast Growth

PSBD has been the topic of several analyst reports. UBS Group cut their target price on Palmer Square Capital BDC from $16.50 to $14.00 and set a "neutral" rating on the stock in a research report on Thursday, April 17th. JPMorgan Chase & Co. reduced their price objective on shares of Palmer Square Capital BDC from $16.00 to $13.50 and set an "overweight" rating for the company in a research note on Thursday, April 24th.

Palmer Square Capital BDC Company Profile

Palmer Square Capital BDC Inc is an externally managed, non-diversified closed-end management investment company which primarily lends to and invests in corporate debt securities, including small to large private U.S. companies and has elected to be regulated as a business development company. Palmer Square Capital BDC Inc is based in MISSION WOODS, Kan.