Millennium Management LLC Sells 22,615 Shares of Palmer Square Capital BDC Inc. (NYSE:PSBD)

Millennium Management LLC lowered its stake in shares of Palmer Square Capital BDC Inc. (NYSE:PSBD - Free Report) by 12.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 157,596 shares of the company's stock after selling 22,615 shares during the quarter. Millennium Management LLC owned about 0.48% of Palmer Square Capital BDC worth $2,395,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Mariner LLC lifted its position in Palmer Square Capital BDC by 97.7% during the fourth 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 during the period. 1248 Management LLC bought a new stake in Palmer Square Capital BDC during the fourth quarter worth about $34,064,000. Bienville Capital Management LLC grew its holdings in 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 purchasing an additional 258,643 shares during the period. Bank of America Corp DE increased its stake in shares of Palmer Square Capital BDC by 21.0% during the fourth quarter. Bank of America Corp DE now owns 262,383 shares of the company's stock valued at $3,988,000 after purchasing an additional 45,519 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Palmer Square Capital BDC by 120.3% during the fourth quarter. Bank of New York Mellon Corp now owns 77,878 shares of the company's stock valued at $1,184,000 after purchasing an additional 42,533 shares in the last quarter. 6.52% of the stock is owned by institutional investors.

Insider Buying and Selling at Palmer Square Capital BDC

In other Palmer Square Capital BDC news, President Matthew L. Bloomfield acquired 4,000 shares of the stock in a transaction dated Thursday, March 6th. The shares were purchased at an average price of $15.48 per share, for a total transaction of $61,920.00. Following the purchase, the president now directly owns 41,478 shares of the company's stock, valued at approximately $642,079.44. This trade represents a 10.67% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.96% of the company's stock.

Analyst Upgrades and Downgrades

PSBD has been the topic of several recent research reports. Wall Street Zen downgraded Palmer Square Capital BDC from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. UBS Group dropped their target price on Palmer Square Capital BDC from $16.50 to $14.00 and set a "neutral" rating on the stock in a report on Thursday, April 17th. Oppenheimer downgraded Palmer Square Capital BDC from an "outperform" rating to a "market perform" rating and reduced their price target for the company from $17.00 to $14.00 in a report on Friday, May 9th. 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 on the stock in a research note on Thursday, April 24th. Finally, Royal Bank of Canada cut their price objective 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 issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Palmer Square Capital BDC has a consensus rating of "Hold" and an average price target of $14.13.

Palmer Square Capital BDC Stock Performance

Shares of NYSE:PSBD traded up $0.05 during midday trading on Wednesday, reaching $13.91. 7,463 shares of the company's stock traded hands, compared to its average volume of 30,476. Palmer Square Capital BDC Inc. has a one year low of $11.51 and a one year high of $16.85. The company has a market cap of $450.31 million, a price-to-earnings ratio of 7.24 and a beta of 0.63. The stock has a 50 day moving average of $13.23 and a 200 day moving average of $14.71.

Palmer Square Capital BDC (NYSE:PSBD - Get Free Report) last announced its quarterly 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). Palmer Square Capital BDC had a return on equity of 11.97% and a net margin of 41.67%. The company had revenue of $31.21 million during the quarter, compared to the consensus estimate of $32.55 million. Sell-side analysts predict that Palmer Square Capital BDC Inc. will post 1.96 EPS for the current fiscal 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 given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 10.35%. The ex-dividend date of this dividend is Friday, June 27th. Palmer Square Capital BDC's dividend payout ratio (DPR) is presently 288.00%.

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.