Palmer Square Capital BDC Inc. (NYSE:PSBD – Get Free Report) major shareholder Martin Bicknell purchased 40,000 shares of Palmer Square Capital BDC stock in a transaction that occurred on Monday, July 6th. The shares were bought at an average price of $10.56 per share, for a total transaction of $422,400.00. Following the transaction, the insider owned 351,988 shares in the company, valued at $3,716,993.28. This represents a 12.82% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
Palmer Square Capital BDC Price Performance
PSBD opened at $10.38 on Friday. The company has a market cap of $323.18 million, a price-to-earnings ratio of -9.99 and a beta of 0.81. The firm has a 50 day simple moving average of $10.72 and a 200 day simple moving average of $11.01. Palmer Square Capital BDC Inc. has a fifty-two week low of $9.34 and a fifty-two week high of $14.62.
Palmer Square Capital BDC Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 13th. Shareholders of record on Friday, June 26th will be given a dividend of $0.36 per share. The ex-dividend date is Friday, June 26th. This represents a $1.44 annualized dividend and a dividend yield of 13.9%. Palmer Square Capital BDC’s payout ratio is presently -138.46%.
Institutional Investors Weigh In On Palmer Square Capital BDC
Analyst Ratings Changes
PSBD has been the subject of a number of analyst reports. Royal Bank Of Canada decreased their price objective on Palmer Square Capital BDC from $12.00 to $11.00 and set a “sector perform” rating for the company in a research note on Wednesday, May 27th. Wall Street Zen lowered Palmer Square Capital BDC from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Noble Financial assumed coverage on Palmer Square Capital BDC in a report on Wednesday, June 24th. They set a “neutral” rating on the stock. JPMorgan Chase & Co. decreased their target price on Palmer Square Capital BDC from $10.00 to $9.50 and set a “neutral” rating for the company in a research report on Thursday, July 2nd. Finally, UBS Group decreased their target price on Palmer Square Capital BDC from $11.50 to $11.00 and set a “neutral” rating for the company in a research report on Monday, April 20th. Four equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus target price of $10.75.
View Our Latest Analysis on PSBD
Palmer Square Capital BDC Company Profile
Palmer Square Capital BDC Inc (NYSE: PSBD) is a closed-end, externally managed business development company that provides customized financing solutions to middle-market companies in the United States. The firm offers a broad range of debt and equity products—including first-lien and second-lien senior secured loans, unitranche financings, mezzanine debt and equity co-investments—to support corporate acquisitions, refinancings, growth initiatives and balance sheet restructurings.
PSBD primarily targets established privately owned and sponsored businesses across diverse industries such as healthcare, business services, industrials and consumer products.
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