Palmer Square Capital BDC Inc. $PSBD Shares Newly Bought by Thor Investment Management Inc. OH ADV

Thor Investment Management Inc. OH ADV bought a new stake in Palmer Square Capital BDC Inc. (NYSE:PSBD) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 77,731 shares of the company’s stock, valued at approximately $769,000.

Other large investors have also added to or reduced their stakes in the company. OV Management LLC purchased a new stake in shares of Palmer Square Capital BDC during the second quarter valued at about $38,867,000. Squarepoint Ops LLC bought a new stake in shares of Palmer Square Capital BDC in the 2nd quarter valued at about $1,362,000. Rivernorth Capital Management LLC boosted its holdings in shares of Palmer Square Capital BDC by 43.8% in the 1st quarter. Rivernorth Capital Management LLC now owns 834,603 shares of the company’s stock valued at $8,154,000 after buying an additional 254,061 shares in the last quarter. NewGen Asset Management Ltd purchased a new position in shares of Palmer Square Capital BDC in the 1st quarter worth approximately $720,000. Finally, Bank of America Corp DE grew its position in shares of Palmer Square Capital BDC by 10.9% in the 1st quarter. Bank of America Corp DE now owns 576,931 shares of the company’s stock worth $5,637,000 after buying an additional 56,547 shares during the last quarter. 6.52% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PSBD has been the subject of several recent analyst reports. Zacks Research upgraded shares of Palmer Square Capital BDC from a “strong sell” rating to a “hold” rating in a research note on Monday, August 10th. Wall Street Zen upgraded shares of Palmer Square Capital BDC from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. JPMorgan Chase & Co. lowered their target price on shares of Palmer Square Capital BDC from $10.00 to $9.50 and set a “neutral” rating for the company in a research note on Thursday, July 2nd. Wells Fargo & Company set a $11.50 price target on shares of Palmer Square Capital BDC in a report on Wednesday, June 24th. Finally, UBS Group reduced their price target on Palmer Square Capital BDC from $11.00 to $10.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 1st. Five analysts have rated the stock with a Hold rating. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $10.50.

Palmer Square Capital BDC Price Performance

NYSE PSBD traded down $0.12 during trading on Tuesday, hitting $9.60. The company’s stock had a trading volume of 300,464 shares, compared to its average volume of 115,253. The company has a market cap of $294.12 million, a PE ratio of -9.69 and a beta of 0.87. The business’s 50 day simple moving average is $10.18 and its 200-day simple moving average is $10.36. Palmer Square Capital BDC Inc. has a fifty-two week low of $9.34 and a fifty-two week high of $12.97.

Palmer Square Capital BDC (NYSE:PSBD) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.16). Palmer Square Capital BDC had a positive return on equity of 11.22% and a negative net margin of 26.73%. The business had revenue of $27.30 million for the quarter, compared to analysts’ expectations of $25.97 million. Analysts expect that Palmer Square Capital BDC Inc. will post 1.50 EPS for the current fiscal year.

Palmer Square Capital BDC Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 13th. Investors of record on Friday, September 25th will be given a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 15.0%. The ex-dividend date of this dividend is Friday, September 25th. Palmer Square Capital BDC’s dividend payout ratio (DPR) is presently -145.45%.

Palmer Square Capital BDC Profile

Palmer Square Capital BDC, Inc (NYSE: PSBD) is a business development company focused on providing financing to middle-market companies. The company seeks to generate current income and, to a lesser extent, capital appreciation by investing in privately negotiated debt and other securities.

Its portfolio primarily consists of senior secured loans and other debt investments, with the potential to invest in subordinated debt, equity securities and related instruments. Through these investments, Palmer Square Capital BDC provides capital to companies that may not have access to traditional bank financing or public debt markets.

Palmer Square Capital BDC is externally managed by an affiliate of Palmer Square Capital Management, an investment management firm specializing in credit and structured finance.