Two Sigma Investments LP Sells 21,234 Shares of Palmer Square Capital BDC Inc. (NYSE:PSBD)

Two Sigma Investments LP trimmed its stake in Palmer Square Capital BDC Inc. (NYSE:PSBD - Free Report) by 35.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 39,204 shares of the company's stock after selling 21,234 shares during the period. Two Sigma Investments LP owned 0.12% of Palmer Square Capital BDC worth $596,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Mariner LLC grew its position in shares of Palmer Square Capital BDC by 97.7% in the 4th quarter. Mariner LLC now owns 2,275,470 shares of the company's stock worth $34,587,000 after buying an additional 1,124,766 shares during the period. 1248 Management LLC purchased a new position in Palmer Square Capital BDC during the 4th quarter valued at about $34,064,000. Bienville Capital Management LLC boosted its stake in Palmer Square Capital BDC by 61.9% during 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. Bank of America Corp DE grew its holdings in 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 purchasing an additional 45,519 shares during the period. 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. Institutional investors own 6.52% of the company's stock.

Palmer Square Capital BDC Trading Up 0.7%

PSBD stock traded up $0.09 during midday trading on Tuesday, hitting $13.96. The company's stock had a trading volume of 27,814 shares, compared to its average volume of 30,816. The firm's 50-day moving average is $13.23 and its 200-day moving average is $14.65. Palmer Square Capital BDC Inc. has a 12 month low of $11.51 and a 12 month high of $16.85. The company has a market cap of $451.99 million, a PE ratio of 7.27 and a beta of 0.83.

Palmer Square Capital BDC (NYSE:PSBD - Get Free Report) last announced 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). Palmer Square Capital BDC had a net margin of 41.67% and a return on equity of 11.97%. The business had revenue of $31.21 million for the quarter, compared to the consensus estimate of $32.55 million. Analysts expect that Palmer Square Capital BDC Inc. will post 1.96 earnings per share for the current year.

Palmer Square Capital BDC Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 14th. Stockholders of record on Friday, June 27th will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 10.31%. The ex-dividend date is Friday, June 27th. Palmer Square Capital BDC's payout ratio is presently 288.00%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on PSBD. Wall Street Zen cut Palmer Square Capital BDC from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. JPMorgan Chase & Co. dropped their target price on 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. Oppenheimer cut Palmer Square Capital BDC from an "outperform" rating to a "market perform" rating and cut their target price for the stock from $17.00 to $14.00 in a research note on Friday, May 9th. Royal Bank of Canada lowered their price target on Palmer Square Capital BDC from $17.00 to $15.00 and set an "outperform" rating for the company in a research report on Thursday, May 22nd. Finally, UBS Group dropped 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 research note on Thursday, April 17th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $14.13.

About Palmer Square Capital BDC

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.