Palmer Square Capital BDC Inc. (NYSE:PSBD) Short Interest Up 136.7% in May

Palmer Square Capital BDC Inc. (NYSE:PSBD - Get Free Report) was the target of a significant growth in short interest in May. As of May 31st, there was short interest totalling 30,300 shares, a growth of 136.7% from the May 15th total of 12,800 shares. Currently, 0.2% of the company's stock are short sold. Based on an average daily volume of 44,900 shares, the days-to-cover ratio is currently 0.7 days.

Hedge Funds Weigh In On Palmer Square Capital BDC

A number of hedge funds and other institutional investors have recently bought and sold shares of PSBD. 1248 Management LLC purchased a new position in Palmer Square Capital BDC in the 4th quarter valued at $34,064,000. Mariner LLC boosted its position in shares of Palmer Square Capital BDC by 97.7% during the 4th quarter. Mariner LLC now owns 2,275,470 shares of the company's stock worth $34,587,000 after purchasing an additional 1,124,766 shares in the last quarter. Pandi LLC purchased a new stake in shares of Palmer Square Capital BDC during the 4th quarter worth $13,860,000. Sunesis Advisors LLC purchased a new stake in shares of Palmer Square Capital BDC during the 1st quarter worth $6,287,000. Finally, Bienville Capital Management LLC boosted its position in shares of Palmer Square Capital BDC by 61.9% during the 4th quarter. Bienville Capital Management LLC now owns 676,406 shares of the company's stock worth $10,606,000 after purchasing an additional 258,643 shares in the last quarter. 6.52% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PSBD has been the topic of several research reports. 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 research report on Thursday, April 17th. Wall Street Zen cut 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. Oppenheimer cut shares of Palmer Square Capital BDC from an "outperform" rating to a "market perform" rating and reduced their target price for the company from $17.00 to $14.00 in a report on Friday, May 9th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Palmer Square Capital BDC from $16.00 to $13.50 and set an "overweight" rating on the stock in a research note on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, Palmer Square Capital BDC has an average rating of "Hold" and an average price target of $14.13.

Palmer Square Capital BDC Stock Up 1.8%

Palmer Square Capital BDC stock traded up $0.25 during mid-day trading on Friday, hitting $14.21. The company had a trading volume of 114,882 shares, compared to its average volume of 31,902. The stock has a market cap of $459.86 million, a price-to-earnings ratio of 7.40 and a beta of 0.83. Palmer Square Capital BDC has a 1 year low of $11.51 and a 1 year high of $16.85. The business has a fifty day moving average of $13.31 and a 200 day moving average of $14.62.

Palmer Square Capital BDC (NYSE:PSBD - Get Free Report) last announced its 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 business had revenue of $31.21 million for the quarter, compared to analysts' expectations of $32.55 million. Palmer Square Capital BDC had a return on equity of 11.97% and a net margin of 41.67%. Equities analysts anticipate that Palmer Square Capital BDC will post 1.96 earnings per share 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. Investors of record on Friday, June 27th will be given a $0.36 dividend. The ex-dividend date is Friday, June 27th. This represents a $1.44 dividend on an annualized basis and a yield of 10.14%. Palmer Square Capital BDC's dividend payout ratio (DPR) is 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.

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