Palmer Square Capital BDC Inc. (NYSE:PSBD) Shares Sold by Point72 DIFC Ltd

Point72 DIFC Ltd reduced its holdings in shares of Palmer Square Capital BDC Inc. (NYSE:PSBD) by 16.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,026 shares of the company’s stock after selling 3,683 shares during the quarter. Point72 DIFC Ltd owned 0.06% of Palmer Square Capital BDC worth $307,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Dorsey & Whitney Trust CO LLC purchased a new stake in Palmer Square Capital BDC during the 1st quarter worth $170,000. Renaissance Technologies LLC purchased a new stake in shares of Palmer Square Capital BDC in the second quarter worth about $173,000. Marble Harbor Investment Counsel LLC purchased a new stake in shares of Palmer Square Capital BDC during the 2nd quarter valued at about $315,000. Capstone Investment Advisors LLC purchased a new stake in shares of Palmer Square Capital BDC during the 1st quarter valued at about $1,032,000. Finally, Confluence Investment Management LLC lifted its position in Palmer Square Capital BDC by 70.5% during the 2nd quarter. Confluence Investment Management LLC now owns 85,240 shares of the company’s stock worth $1,377,000 after acquiring an additional 35,240 shares in the last quarter. Institutional investors and hedge funds own 6.52% of the company’s stock.

Palmer Square Capital BDC Stock Performance

Shares of NYSE PSBD opened at $16.38 on Friday. The business has a 50 day moving average price of $16.35 and a two-hundred day moving average price of $16.40. Palmer Square Capital BDC Inc. has a fifty-two week low of $15.27 and a fifty-two week high of $17.12.

Palmer Square Capital BDC (NYSE:PSBD) last released its quarterly 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 analyst estimates of $36.27 million. Palmer Square Capital BDC had a return on equity of 16.13% and a net margin of 64.65%. As a group, sell-side analysts expect that Palmer Square Capital BDC Inc. will post 1.97 EPS for the current fiscal year.

Palmer Square Capital BDC Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, October 14th. Stockholders of record on Friday, September 27th will be paid a $0.42 dividend. The ex-dividend date is Friday, September 27th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 10.26%.

Analysts Set New Price Targets

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

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.