Palmer Square Capital BDC Inc. (NYSE:PSBD) Shares Sold by Millennium Management LLC

Millennium Management LLC decreased its position in Palmer Square Capital BDC Inc. (NYSE:PSBD - Free Report) by 12.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 157,596 shares of the company's stock after selling 22,615 shares during the quarter. Millennium Management LLC owned 0.48% of Palmer Square Capital BDC worth $2,395,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Franklin Resources Inc. raised its position in Palmer Square Capital BDC by 72.0% in the fourth quarter. Franklin Resources Inc. now owns 57,866 shares of the company's stock valued at $880,000 after purchasing an additional 24,232 shares during the period. Bank of America Corp DE grew its stake in shares of Palmer Square Capital BDC by 21.0% in the fourth quarter. Bank of America Corp DE now owns 262,383 shares of the company's stock worth $3,988,000 after acquiring an additional 45,519 shares in the last quarter. Bienville Capital Management LLC grew its stake in shares of Palmer Square Capital BDC by 61.9% in the fourth quarter. Bienville Capital Management LLC now owns 676,406 shares of the company's stock worth $10,606,000 after acquiring an additional 258,643 shares in the last quarter. Citadel Advisors LLC grew its stake in shares of Palmer Square Capital BDC by 32.9% in the fourth quarter. Citadel Advisors LLC now owns 42,203 shares of the company's stock worth $641,000 after acquiring an additional 10,457 shares in the last quarter. Finally, Mariner LLC grew its stake in shares of Palmer Square Capital BDC by 97.7% in the fourth quarter. Mariner LLC now owns 2,275,470 shares of the company's stock worth $34,587,000 after acquiring an additional 1,124,766 shares in the last quarter. Hedge funds and other institutional investors own 6.52% of the company's stock.

Palmer Square Capital BDC Trading Down 0.1%

Shares of PSBD stock traded down $0.02 on Thursday, reaching $13.89. 32,811 shares of the stock were exchanged, compared to its average volume of 30,600. The business's 50 day moving average price is $13.22 and its 200 day moving average price is $14.71. The company has a market capitalization of $449.79 million, a price-to-earnings ratio of 7.24 and a beta of 0.63. 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 issued its earnings results on Wednesday, May 7th. The company reported $0.40 EPS for the quarter, missing analysts' consensus estimates of $0.44 by ($0.04). The firm had revenue of $31.21 million for the quarter, compared to analyst estimates of $32.55 million. Palmer Square Capital BDC had a return on equity of 11.97% and a net margin of 41.67%. Equities research analysts forecast that Palmer Square Capital BDC Inc. will post 1.96 earnings per share for the current year.

Palmer Square Capital BDC Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 14th. Investors of record on Friday, June 27th will be paid a dividend of $0.36 per share. The ex-dividend date is Friday, June 27th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 10.36%. Palmer Square Capital BDC's payout ratio is currently 288.00%.

Analyst Upgrades and Downgrades

Several research firms have commented on PSBD. JPMorgan Chase & Co. dropped their price target 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. UBS Group dropped their price target on shares of Palmer Square Capital BDC from $16.50 to $14.00 and set a "neutral" rating for the company in a research note on Thursday, April 17th. Wall Street Zen downgraded shares of Palmer Square Capital BDC from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Royal Bank of Canada dropped their price target on shares of Palmer Square Capital BDC from $17.00 to $15.00 and set an "outperform" rating for the company in a research note on Thursday, May 22nd. Finally, Oppenheimer downgraded shares of Palmer Square Capital BDC from an "outperform" rating to a "market perform" rating and dropped their price target for the stock from $17.00 to $14.00 in a research note on Friday, May 9th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $14.13.

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.