Cubist Systematic Strategies LLC Decreases Stock Holdings in Palmer Square Capital BDC Inc. (NYSE:PSBD)

Cubist Systematic Strategies LLC reduced its stake in Palmer Square Capital BDC Inc. (NYSE:PSBD) by 74.5% during the second quarter, according to its most recent filing with the SEC. The fund owned 8,751 shares of the company’s stock after selling 25,601 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Palmer Square Capital BDC were worth $141,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in PSBD. Apollo Management Holdings L.P. bought a new position in shares of Palmer Square Capital BDC during the 1st quarter worth $9,713,000. Confluence Investment Management LLC raised its position in shares of Palmer Square Capital BDC by 70.5% in the second 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 period. Capstone Investment Advisors LLC purchased a new stake in shares of Palmer Square Capital BDC during the 1st quarter valued at approximately $1,032,000. Marble Harbor Investment Counsel LLC purchased a new position in Palmer Square Capital BDC in the 2nd quarter valued at approximately $315,000. Finally, Renaissance Technologies LLC purchased a new position in Palmer Square Capital BDC in the 2nd quarter valued at approximately $173,000. Institutional investors own 6.52% of the company’s stock.

Palmer Square Capital BDC Price Performance

Shares of NYSE:PSBD opened at $16.14 on Wednesday. Palmer Square Capital BDC Inc. has a one year low of $15.27 and a one year high of $17.12. The firm has a fifty day moving average price of $16.22 and a two-hundred day moving average price of $16.36.

Palmer Square Capital BDC (NYSE:PSBD) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.03). The business had revenue of $36.55 million for the quarter, compared to the consensus estimate of $36.27 million. Palmer Square Capital BDC had a net margin of 64.65% and a return on equity of 16.13%. Sell-side analysts forecast 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 was paid on Monday, October 14th. Investors 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 10.41%. The ex-dividend date of this dividend was Friday, September 27th.

Analysts Set New Price Targets

Separately, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $17.00 price target on shares of Palmer Square Capital BDC in a report 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 MarketBeat, Palmer Square Capital BDC presently has a consensus rating of “Moderate Buy” and a consensus price target 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.