Sunesis Advisors LLC Makes New Investment in Palmer Square Capital BDC Inc. (NYSE:PSBD)

Sunesis Advisors LLC bought a new position in shares of Palmer Square Capital BDC Inc. (NYSE:PSBD - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 472,034 shares of the company's stock, valued at approximately $6,287,000. Palmer Square Capital BDC accounts for 3.4% of Sunesis Advisors LLC's portfolio, making the stock its 8th largest holding. Sunesis Advisors LLC owned 1.45% 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 raised its position in shares of 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 during the last quarter. Wells Fargo & Company MN raised its position in shares of 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 during the last quarter. Atwood & Palmer Inc. bought a new stake in shares of Palmer Square Capital BDC during the first quarter valued at approximately $453,000. Marble Harbor Investment Counsel LLC raised its position in shares of 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 during the last quarter. Finally, Citadel Advisors LLC raised its position in shares of 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 during the last quarter. Institutional investors own 6.52% of the company's stock.

Palmer Square Capital BDC Stock Performance

PSBD stock opened at $14.75 on Tuesday. The firm has a fifty day moving average price of $13.47 and a 200 day moving average price of $14.55. Palmer Square Capital BDC Inc. has a fifty-two week low of $11.51 and a fifty-two week high of $16.85. The firm has a market cap of $477.46 million, a PE ratio of 29.50 and a beta of 0.82.

Palmer Square Capital BDC (NYSE:PSBD - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $0.40 earnings per share for the quarter, missing analysts' consensus estimates of $0.44 by ($0.04). The business 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 11.72% and a return on equity of 11.04%. On average, equities analysts predict that Palmer Square Capital BDC Inc. will post 1.96 EPS for the current year.

Palmer Square Capital BDC Dividend Announcement

The company also recently disclosed 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 annualized dividend and a yield of 9.76%. The ex-dividend date is Friday, June 27th. Palmer Square Capital BDC's payout ratio is 288.00%.

Wall Street Analysts Forecast Growth

PSBD has been the topic of several recent analyst reports. Oppenheimer cut shares of Palmer Square Capital BDC from an "outperform" rating to a "market perform" rating and reduced their price objective for the company from $17.00 to $14.00 in a research report on Friday, May 9th. Royal Bank Of Canada reduced 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. UBS Group reduced their price objective on shares of Palmer Square Capital BDC from $16.50 to $14.00 and set a "neutral" rating on the stock in a research report on Thursday, April 17th. Wall Street Zen lowered shares of Palmer Square Capital BDC from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Finally, JPMorgan Chase & Co. cut their target price on shares of 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 investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $14.13.

Palmer Square Capital BDC 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.

Want to see what other hedge funds are holding PSBD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Palmer Square Capital BDC Inc. (NYSE:PSBD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.