Pandi LLC Invests $13.86 Million in Palmer Square Capital BDC Inc. (NYSE:PSBD)

Pandi LLC bought a new position in Palmer Square Capital BDC Inc. (NYSE:PSBD - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 911,854 shares of the company's stock, valued at approximately $13,860,000. Palmer Square Capital BDC comprises approximately 2.1% of Pandi LLC's investment portfolio, making the stock its 4th biggest position. Pandi LLC owned 2.79% of Palmer Square Capital BDC at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cubist Systematic Strategies LLC boosted its stake in shares of Palmer Square Capital BDC by 995.9% during the 4th quarter. Cubist Systematic Strategies LLC now owns 2,433 shares of the company's stock worth $37,000 after acquiring an additional 2,211 shares during the last quarter. Citadel Advisors LLC lifted its stake in shares of Palmer Square Capital BDC by 32.9% during the 4th quarter. Citadel Advisors LLC now owns 42,203 shares of the company's stock valued at $641,000 after buying an additional 10,457 shares in the last quarter. Bank of America Corp DE lifted its stake in shares of Palmer Square Capital BDC by 21.0% during the 4th quarter. Bank of America Corp DE now owns 262,383 shares of the company's stock valued at $3,988,000 after buying an additional 45,519 shares in the last quarter. 1248 Management LLC purchased a new position in shares of Palmer Square Capital BDC during the 4th quarter valued at $34,064,000. Finally, Bienville Capital Management LLC increased its holdings in 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 acquiring an additional 258,643 shares during the last quarter. Hedge funds and other institutional investors own 6.52% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on PSBD. UBS Group reduced their price target on shares of 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. Wall Street Zen downgraded shares of Palmer Square Capital BDC from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. 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 report on Thursday, May 22nd. JPMorgan Chase & Co. reduced their target price on shares of Palmer Square Capital BDC from $16.00 to $13.50 and set an "overweight" rating on the stock in a report on Thursday, April 24th. Finally, Oppenheimer downgraded shares of Palmer Square Capital BDC from an "outperform" rating to a "market perform" rating and reduced their target price for the stock from $17.00 to $14.00 in a report on Friday, May 9th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $14.13.

Insider Buying and Selling at Palmer Square Capital BDC

In other Palmer Square Capital BDC news, President Matthew L. Bloomfield acquired 4,200 shares of the business's stock in a transaction dated Tuesday, March 4th. The shares were purchased at an average price of $15.38 per share, for a total transaction of $64,596.00. Following the completion of the purchase, the president now directly owns 32,478 shares of the company's stock, valued at $499,511.64. The trade was a 14.85% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.96% of the stock is currently owned by company insiders.

Palmer Square Capital BDC Stock Up 0.9%

NYSE:PSBD traded up $0.12 during mid-day trading on Friday, hitting $13.93. 25,575 shares of the stock traded hands, compared to its average volume of 30,565. The stock has a market capitalization of $450.96 million, a price-to-earnings ratio of 7.26 and a beta of 0.63. Palmer Square Capital BDC Inc. has a 52 week low of $11.51 and a 52 week high of $16.85. The firm's 50 day moving average is $13.25 and its two-hundred day moving average is $14.75.

Palmer Square Capital BDC (NYSE:PSBD - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.04). The company had revenue of $31.21 million during the quarter, compared to analysts' expectations of $32.55 million. Palmer Square Capital BDC had a net margin of 41.67% and a return on equity of 11.97%. As a group, research analysts predict that Palmer Square Capital BDC Inc. will post 1.96 EPS for the current year.

Palmer Square Capital BDC Announces Dividend

The company also recently disclosed 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 annualized dividend and a dividend yield of 10.34%. 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.