Palmer Square Capital BDC (NYSE:PSBD) Rating Increased to Hold at Wall Street Zen

Palmer Square Capital BDC (NYSE:PSBD - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued to investors on Friday.

Several other brokerages have also recently commented on PSBD. UBS Group lowered their price target on shares of Palmer Square Capital BDC from $16.50 to $14.00 and set a "neutral" rating for the company in a research report on Thursday, April 17th. Royal Bank Of Canada lowered their price target on shares of 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. JPMorgan Chase & Co. reduced their price objective 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. Finally, Oppenheimer lowered shares of Palmer Square Capital BDC from an "outperform" rating to a "market perform" rating and reduced their price objective for the stock from $17.00 to $14.00 in a research note on Friday, May 9th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $14.13.

Palmer Square Capital BDC Trading Down 4.1%

Shares of NYSE:PSBD traded down $0.60 during trading on Friday, hitting $13.99. 36,472 shares of the company's stock were exchanged, compared to its average volume of 32,912. Palmer Square Capital BDC has a 1-year low of $11.51 and a 1-year high of $16.85. The firm has a 50-day moving average price of $13.60 and a two-hundred day moving average price of $14.53. The firm has a market cap of $452.69 million, a P/E ratio of 27.97 and a beta of 0.83.

Palmer Square Capital BDC (NYSE:PSBD - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.40 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.04). Palmer Square Capital BDC had a return on equity of 11.04% and a net margin of 11.72%. The business had revenue of $31.21 million for the quarter, compared to analyst estimates of $32.55 million. As a group, research analysts predict that Palmer Square Capital BDC will post 1.96 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Confluence Investment Management LLC boosted its stake in Palmer Square Capital BDC by 1.0% during the 1st quarter. Confluence Investment Management LLC now owns 105,639 shares of the company's stock worth $1,407,000 after acquiring an additional 1,093 shares during the last quarter. Cubist Systematic Strategies LLC lifted its stake in 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 valued at $37,000 after buying an additional 2,211 shares in the last quarter. Wells Fargo & Company MN lifted its stake in Palmer Square Capital BDC by 271.5% in 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 lifted its stake in Palmer Square Capital BDC by 24.3% in 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. Finally, Citadel Advisors LLC lifted its stake in Palmer Square Capital BDC by 32.9% in 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. Institutional investors own 6.52% of the company's stock.

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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