Pandi LLC Takes Position in Palmer Square Capital BDC Inc. (NYSE:PSBD)

Pandi LLC acquired a new stake in shares of 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 institutional investor acquired 911,854 shares of the company's stock, valued at approximately $13,860,000. Palmer Square Capital BDC makes up about 2.1% of Pandi LLC's holdings, making the stock its 4th biggest holding. Pandi LLC owned about 2.79% of Palmer Square Capital BDC at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Cubist Systematic Strategies LLC raised its stake in Palmer Square Capital BDC by 995.9% during the fourth quarter. Cubist Systematic Strategies LLC now owns 2,433 shares of the company's stock valued at $37,000 after buying an additional 2,211 shares in the last quarter. Wells Fargo & Company MN raised its stake in Palmer Square Capital BDC by 271.5% during the fourth quarter. Wells Fargo & Company MN now owns 7,501 shares of the company's stock valued at $114,000 after buying an additional 5,482 shares in the last quarter. Marble Harbor Investment Counsel LLC raised its stake in Palmer Square Capital BDC by 24.3% during the fourth quarter. Marble Harbor Investment Counsel LLC now owns 31,950 shares of the company's stock valued at $486,000 after buying an additional 6,250 shares in the last quarter. Citadel Advisors LLC raised its stake in Palmer Square Capital BDC by 32.9% during the fourth 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. Finally, Franklin Resources Inc. grew its holdings in shares of Palmer Square Capital BDC by 72.0% during 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 last quarter. Institutional investors and hedge funds own 6.52% of the company's stock.

Insider Buying and Selling at Palmer Square Capital BDC

In related news, President Matthew L. Bloomfield acquired 4,200 shares of the business's stock in a transaction dated Tuesday, March 4th. The stock was bought at an average price of $15.38 per share, for a total transaction of $64,596.00. Following the transaction, the president now owns 32,478 shares of the company's stock, valued at approximately $499,511.64. The trade was a 14.85% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.96% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

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

Palmer Square Capital BDC Price Performance

PSBD stock traded up $0.04 on Wednesday, reaching $13.98. The company's stock had a trading volume of 17,025 shares, compared to its average volume of 30,359. Palmer Square Capital BDC Inc. has a 52 week low of $11.51 and a 52 week high of $16.85. The company has a market capitalization of $452.57 million, a P/E ratio of 7.28 and a beta of 0.63. The firm has a fifty day moving average of $13.27 and a two-hundred day moving average of $14.77.

Palmer Square Capital BDC (NYSE:PSBD - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.40 earnings per share (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 the consensus estimate 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, equities analysts expect that Palmer Square Capital BDC Inc. will post 1.96 EPS for the current fiscal year.

Palmer Square Capital BDC Dividend Announcement

The company also recently declared 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 yield of 10.30%. The ex-dividend date is Friday, June 27th. Palmer Square Capital BDC's payout ratio is currently 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.