Arlington Partners LLC Has $6.44 Million Stock Position in Palmer Square Capital BDC Inc. $PSBD

Key Points

• Arlington Partners LLC increased its stake in Palmer Square Capital BDC Inc. by 38.3% in Q2, owning a total of 461,609 shares now valued at approximately $6.4 million.
• Palmer Square Capital BDC reported earnings of $0.43 per share for the recent quarter, surpassing analyst expectations, with a revenue of $31.68 million.
• The company announced a quarterly dividend of $0.36 per share, resulting in an annualized yield of 10.7% and a substantial payout ratio of 257.14%.

Arlington Partners LLC lifted its stake in Palmer Square Capital BDC Inc. (NYSE:PSBD - Free Report) by 38.3% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 461,609 shares of the company's stock after acquiring an additional 127,844 shares during the period. Palmer Square Capital BDC accounts for about 2.4% of Arlington Partners LLC's investment portfolio, making the stock its 2nd largest position. Arlington Partners LLC owned approximately 1.43% of Palmer Square Capital BDC worth $6,444,000 as of its most recent filing with the SEC.

A number of other large investors have also recently added to or reduced their stakes in PSBD. 1248 Management LLC grew its holdings in Palmer Square Capital BDC by 36.0% during the first quarter. 1248 Management LLC now owns 2,954,713 shares of the company's stock valued at $40,509,000 after purchasing an additional 782,271 shares during the last quarter. Jane Street Group LLC bought a new position in Palmer Square Capital BDC in the 1st quarter worth $360,000. Sunesis Advisors LLC acquired a new stake in shares of Palmer Square Capital BDC in the first quarter valued at about $6,287,000. Atwood & Palmer Inc. bought a new position in shares of Palmer Square Capital BDC in the first quarter worth about $453,000. Finally, Hennion & Walsh Asset Management Inc. boosted its stake in Palmer Square Capital BDC by 91.4% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 160,740 shares of the company's stock valued at $2,141,000 after purchasing an additional 76,743 shares during the period. Institutional investors own 6.52% of the company's stock.

Palmer Square Capital BDC Trading Down 0.1%

PSBD stock traded down $0.01 during trading on Monday, hitting $13.46. 37,964 shares of the stock traded hands, compared to its average volume of 73,559. The stock has a market cap of $432.47 million, a price-to-earnings ratio of 24.04 and a beta of 0.82. Palmer Square Capital BDC Inc. has a one year low of $11.51 and a one year high of $16.43. The company has a 50 day simple moving average of $13.86 and a 200 day simple moving average of $13.77.

Palmer Square Capital BDC (NYSE:PSBD - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported $0.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.41 by $0.02. The company had revenue of $31.68 million during the quarter, compared to analysts' expectations of $30.29 million. Palmer Square Capital BDC had a net margin of 13.51% and a return on equity of 10.91%. As a group, analysts predict that Palmer Square Capital BDC Inc. will post 1.96 earnings per share for the current fiscal year.

Palmer Square Capital BDC Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 14th. Stockholders of record on Friday, September 26th will be paid a $0.36 dividend. The ex-dividend date is Friday, September 26th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 10.7%. Palmer Square Capital BDC's dividend payout ratio (DPR) is 257.14%.

Analysts Set New Price Targets

Several brokerages have commented on PSBD. Wall Street Zen raised Palmer Square Capital BDC from a "sell" rating to a "hold" rating in a research report on Friday, June 27th. UBS Group reaffirmed a "neutral" rating and set a $14.50 price objective on shares of Palmer Square Capital BDC in a research report on Wednesday, July 16th. Finally, JPMorgan Chase & Co. raised their price objective on Palmer Square Capital BDC from $13.00 to $14.00 and gave the stock an "overweight" rating in a research report on Thursday, August 7th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $14.38.

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.