Palmer Square Capital BDC Inc. (NYSE:PSBD) Short Interest Up 24.8% in March

Palmer Square Capital BDC Inc. (NYSE:PSBD - Get Free Report) saw a significant increase in short interest in the month of March. As of March 31st, there was short interest totalling 30,200 shares, an increase of 24.8% from the March 15th total of 24,200 shares. Approximately 0.2% of the shares of the company are sold short. Based on an average trading volume of 34,400 shares, the days-to-cover ratio is currently 0.9 days.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. dropped their price objective on Palmer Square Capital BDC from $16.00 to $13.50 and set an "overweight" rating for the company in a report on Thursday. UBS Group dropped their price target on Palmer Square Capital BDC from $16.50 to $14.00 and set a "neutral" rating for the company in a research note on Thursday, April 17th.

Insider Activity

In other Palmer Square Capital BDC news, President Matthew L. Bloomfield purchased 4,200 shares of the company's stock in a transaction dated Tuesday, March 4th. The stock was bought at an average cost of $15.38 per share, for a total transaction of $64,596.00. Following the completion of the transaction, the president now owns 32,478 shares in the company, valued at approximately $499,511.64. This represents a 14.85 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 0.96% of the stock is currently owned by company insiders.

Institutional Trading of Palmer Square Capital BDC

Large investors have recently bought and sold shares of the business. Cubist Systematic Strategies LLC lifted its holdings in shares of Palmer Square Capital BDC by 995.9% in the fourth 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. Wells Fargo & Company MN lifted its stake in Palmer Square Capital BDC by 271.5% in the 4th quarter. Wells Fargo & Company MN now owns 7,501 shares of the company's stock valued at $114,000 after purchasing an additional 5,482 shares during the last quarter. Atwood & Palmer Inc. acquired a new stake in Palmer Square Capital BDC in the first quarter valued at approximately $453,000. Marble Harbor Investment Counsel LLC grew its stake 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 worth $486,000 after buying an additional 6,250 shares during the last quarter. Finally, Citadel Advisors LLC increased its holdings 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 worth $641,000 after buying an additional 10,457 shares in the last quarter. 6.52% of the stock is owned by institutional investors and hedge funds.

Palmer Square Capital BDC Price Performance

PSBD traded down $0.11 during trading on Friday, hitting $12.63. 35,472 shares of the stock traded hands, compared to its average volume of 27,702. The business has a 50 day moving average price of $14.16 and a 200 day moving average price of $15.24. Palmer Square Capital BDC has a twelve month low of $11.89 and a twelve month high of $16.91. The company has a market cap of $411.73 million, a price-to-earnings ratio of 6.58 and a beta of 0.60.

Palmer Square Capital BDC Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 10th. Investors of record on Friday, March 28th were given a dividend of $0.36 per share. The ex-dividend date of this dividend was Friday, March 28th. This represents a $1.44 annualized dividend and a dividend yield of 11.41%. Palmer Square Capital BDC's dividend payout ratio is currently 97.30%.

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.