Palmer Square Capital BDC Inc. (NYSE:PSBD) Short Interest Update

Palmer Square Capital BDC Inc. (NYSE:PSBD) saw a large decline in short interest in the month of October. As of October 15th, there was short interest totalling 19,400 shares, a decline of 60.0% from the September 30th total of 48,500 shares. Based on an average trading volume of 31,000 shares, the days-to-cover ratio is currently 0.6 days. Approximately 0.1% of the shares of the company are sold short.

Institutional Trading of Palmer Square Capital BDC

Several hedge funds have recently modified their holdings of PSBD. Capstone Investment Advisors LLC bought a new position in shares of Palmer Square Capital BDC in the 1st quarter valued at about $1,032,000. Confluence Investment Management LLC lifted its stake in shares of Palmer Square Capital BDC by 70.5% in the 2nd quarter. Confluence Investment Management LLC now owns 85,240 shares of the company’s stock valued at $1,377,000 after purchasing an additional 35,240 shares during the last quarter. Renaissance Technologies LLC purchased a new position in shares of Palmer Square Capital BDC in the 2nd quarter worth approximately $173,000. Dorsey & Whitney Trust CO LLC bought a new position in shares of Palmer Square Capital BDC during the 1st quarter valued at approximately $170,000. Finally, Marble Harbor Investment Counsel LLC purchased a new stake in Palmer Square Capital BDC during the 2nd quarter valued at $315,000. 6.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Royal Bank of Canada reiterated an “outperform” rating and issued a $17.00 price target on shares of Palmer Square Capital BDC in a research report on Tuesday, August 13th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $16.93.

Palmer Square Capital BDC Price Performance

PSBD stock remained flat at $16.25 during midday trading on Friday. The company’s stock had a trading volume of 27,965 shares, compared to its average volume of 47,453. Palmer Square Capital BDC has a 1-year low of $15.27 and a 1-year high of $17.12. The business has a 50 day moving average price of $16.21 and a 200 day moving average price of $16.37.

Palmer Square Capital BDC (NYSE:PSBD) last issued its earnings results on Thursday, August 8th. The company reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.03). The company had revenue of $36.55 million for the quarter, compared to the consensus estimate of $36.27 million. Palmer Square Capital BDC had a return on equity of 16.13% and a net margin of 64.65%. Sell-side analysts anticipate that Palmer Square Capital BDC will post 1.97 EPS for the current fiscal year.

Palmer Square Capital BDC Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 14th. Shareholders of record on Friday, September 27th were paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 10.34%. The ex-dividend date of this dividend was Friday, September 27th.

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.