Palmer Square Capital BDC Inc. (NYSE:PSBD – Get Free Report) major shareholder Martin Bicknell acquired 30,000 shares of the company’s stock in a transaction on Friday, June 5th. The stock was acquired at an average cost of $10.79 per share, for a total transaction of $323,700.00. Following the completion of the acquisition, the insider owned 230,000 shares of the company’s stock, valued at $2,481,700. This trade represents a 15.00% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
Palmer Square Capital BDC Price Performance
Palmer Square Capital BDC stock opened at $10.49 on Friday. The stock has a market capitalization of $326.39 million, a PE ratio of -10.08 and a beta of 0.81. The business has a 50 day simple moving average of $10.75 and a 200-day simple moving average of $11.06. Palmer Square Capital BDC Inc. has a 12 month low of $9.34 and a 12 month high of $14.62.
Palmer Square Capital BDC Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, July 13th. Investors of record on Friday, June 26th will be paid a $0.36 dividend. The ex-dividend date of this dividend is Friday, June 26th. This represents a $1.44 dividend on an annualized basis and a yield of 13.7%. Palmer Square Capital BDC’s dividend payout ratio (DPR) is currently -138.46%.
Wall Street Analyst Weigh In
Read Our Latest Analysis on PSBD
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in the company. Catalyst Capital Advisors LLC purchased a new position in Palmer Square Capital BDC in the 1st quarter valued at $33,000. Harbour Investments Inc. acquired a new stake in shares of Palmer Square Capital BDC in the fourth quarter valued at about $85,000. Citadel Advisors LLC acquired a new stake in shares of Palmer Square Capital BDC in the third quarter valued at about $230,000. TrueMark Investments LLC purchased a new position in shares of Palmer Square Capital BDC in the first quarter worth about $188,000. Finally, Clear Harbor Asset Management LLC purchased a new position in shares of Palmer Square Capital BDC in the fourth quarter worth about $305,000. 6.52% of the stock is owned by institutional investors and hedge funds.
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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