Short Interest in Palmer Square Capital BDC Inc. (NYSE:PSBD) Expands By 75.3%

Palmer Square Capital BDC Inc. (NYSE:PSBD) was the target of a significant growth in short interest during the month of October. As of October 15th, there was short interest totaling 80,800 shares, a growth of 75.3% from the September 30th total of 46,100 shares. Currently, 0.5% of the shares of the stock are short sold. Based on an average daily volume of 92,400 shares, the days-to-cover ratio is currently 0.9 days. Based on an average daily volume of 92,400 shares, the days-to-cover ratio is currently 0.9 days. Currently, 0.5% of the shares of the stock are short sold.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. JPMorgan Chase & Co. restated a “neutral” rating and set a $12.00 target price (down previously from $14.00) on shares of Palmer Square Capital BDC in a research report on Wednesday, October 1st. UBS Group decreased their target price on shares of Palmer Square Capital BDC from $14.50 to $13.50 and set a “neutral” rating on the stock in a research report on Tuesday, October 14th. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $13.63.

Palmer Square Capital BDC Stock Up 0.9%

NYSE:PSBD opened at $12.34 on Monday. The company has a market cap of $396.32 million, a P/E ratio of 22.03 and a beta of 0.71. Palmer Square Capital BDC has a fifty-two week low of $11.51 and a fifty-two week high of $16.25. The firm’s 50 day moving average is $13.02 and its two-hundred day moving average is $13.49.

Palmer Square Capital BDC (NYSE:PSBD) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.02. The company had revenue of $31.68 million for the quarter, compared to the consensus estimate of $30.29 million. Palmer Square Capital BDC had a net margin of 13.51% and a return on equity of 10.91%. Research analysts forecast that Palmer Square Capital BDC will post 1.96 earnings per share for the current fiscal year.

Palmer Square Capital BDC Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 14th. Shareholders of record on Friday, September 26th were paid a dividend of $0.36 per share. The ex-dividend date of this dividend was Friday, September 26th. This represents a $1.44 dividend on an annualized basis and a yield of 11.7%. Palmer Square Capital BDC’s dividend payout ratio (DPR) is currently 257.14%.

Hedge Funds Weigh In On Palmer Square Capital BDC

A number of large investors have recently bought and sold shares of PSBD. 1248 Management LLC raised its stake in shares of Palmer Square Capital BDC by 36.0% in the 1st quarter. 1248 Management LLC now owns 2,954,713 shares of the company’s stock valued at $40,509,000 after acquiring an additional 782,271 shares during the period. Arlington Partners LLC raised its stake in shares of Palmer Square Capital BDC by 38.3% in the 2nd quarter. Arlington Partners LLC now owns 461,609 shares of the company’s stock valued at $6,444,000 after acquiring an additional 127,844 shares during the period. Mid American Wealth Advisory Group Inc. purchased a new position in shares of Palmer Square Capital BDC in the 3rd quarter valued at $367,000. Jane Street Group LLC purchased a new position in shares of Palmer Square Capital BDC in the 1st quarter valued at $360,000. Finally, Bank of America Corp DE raised its stake in shares of Palmer Square Capital BDC by 5.0% in the 2nd quarter. Bank of America Corp DE now owns 300,575 shares of the company’s stock valued at $4,196,000 after acquiring an additional 14,220 shares during the period. Hedge funds and other 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.