Atwood & Palmer Inc. Invests $453,000 in Palmer Square Capital BDC Inc. (NYSE:PSBD)

Atwood & Palmer Inc. acquired a new stake in Palmer Square Capital BDC Inc. (NYSE:PSBD - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 34,010 shares of the company's stock, valued at approximately $453,000. Atwood & Palmer Inc. owned approximately 0.10% of Palmer Square Capital BDC at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. 1248 Management LLC purchased a new stake in Palmer Square Capital BDC in the 4th quarter valued at about $34,064,000. Mariner LLC grew its holdings in Palmer Square Capital BDC by 97.7% in the fourth quarter. Mariner LLC now owns 2,275,470 shares of the company's stock valued at $34,587,000 after purchasing an additional 1,124,766 shares during the period. Pandi LLC purchased a new stake in Palmer Square Capital BDC in the fourth quarter valued at approximately $13,860,000. Bienville Capital Management LLC boosted its holdings in shares of Palmer Square Capital BDC by 61.9% in the 4th quarter. Bienville Capital Management LLC now owns 676,406 shares of the company's stock valued at $10,606,000 after purchasing an additional 258,643 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. increased its stake in Palmer Square Capital BDC by 91.4% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 160,740 shares of the company's stock worth $2,141,000 after acquiring an additional 76,743 shares during the last quarter. Hedge funds and other institutional investors own 6.52% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on the company. Wall Street Zen lowered Palmer Square Capital BDC from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. JPMorgan Chase & Co. reduced their price target on Palmer Square Capital BDC from $16.00 to $13.50 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. UBS Group decreased their price target on Palmer Square Capital BDC from $16.50 to $14.00 and set a "neutral" rating for the company in a report on Thursday, April 17th. Oppenheimer downgraded shares of Palmer Square Capital BDC from an "outperform" rating to a "market perform" rating and lowered their price objective for the company from $17.00 to $14.00 in a research report on Friday, May 9th. Finally, Royal Bank of Canada reduced their target price on shares of Palmer Square Capital BDC from $17.00 to $15.00 and set an "outperform" rating on the stock in a research report on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $14.13.

Palmer Square Capital BDC Price Performance

Shares of PSBD traded up $0.09 during trading hours on Tuesday, reaching $13.96. 27,814 shares of the company's stock traded hands, compared to its average volume of 30,816. The business's fifty day simple moving average is $13.23 and its two-hundred day simple moving average is $14.65. The firm has a market capitalization of $451.99 million, a price-to-earnings ratio of 7.27 and a beta of 0.83. Palmer Square Capital BDC Inc. has a twelve month low of $11.51 and a twelve month high of $16.85.

Palmer Square Capital BDC (NYSE:PSBD - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $0.40 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.04). Palmer Square Capital BDC had a net margin of 41.67% and a return on equity of 11.97%. The business had revenue of $31.21 million for the quarter, compared to analyst estimates of $32.55 million. On average, equities research analysts expect that Palmer Square Capital BDC Inc. will post 1.96 EPS for the current year.

Palmer Square Capital BDC Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 14th. Shareholders of record on Friday, June 27th will be paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 10.31%. The ex-dividend date is Friday, June 27th. Palmer Square Capital BDC's dividend payout ratio (DPR) is currently 288.00%.

About Palmer Square Capital BDC

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.