Mariner LLC Acquires 1,124,766 Shares of Palmer Square Capital BDC Inc. (NYSE:PSBD)

Mariner LLC raised its stake in shares of Palmer Square Capital BDC Inc. (NYSE:PSBD - Free Report) by 97.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 2,275,470 shares of the company's stock after purchasing an additional 1,124,766 shares during the quarter. Mariner LLC owned 6.97% of Palmer Square Capital BDC worth $34,587,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in PSBD. Wells Fargo & Company MN raised its holdings in shares of Palmer Square Capital BDC by 271.5% in the 4th quarter. Wells Fargo & Company MN now owns 7,501 shares of the company's stock worth $114,000 after buying an additional 5,482 shares in the last quarter. Marble Harbor Investment Counsel LLC boosted its stake in shares of Palmer Square Capital BDC by 24.3% in the 4th quarter. Marble Harbor Investment Counsel LLC now owns 31,950 shares of the company's stock valued at $486,000 after purchasing an additional 6,250 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of Palmer Square Capital BDC by 72.0% in the 4th quarter. Franklin Resources Inc. now owns 57,866 shares of the company's stock worth $880,000 after purchasing an additional 24,232 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Palmer Square Capital BDC by 120.3% during the 4th quarter. Bank of New York Mellon Corp now owns 77,878 shares of the company's stock worth $1,184,000 after purchasing an additional 42,533 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. boosted its position in Palmer Square Capital BDC by 73.0% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 83,997 shares of the company's stock valued at $1,277,000 after buying an additional 35,437 shares in the last quarter. Institutional investors and hedge funds own 6.52% of the company's stock.

Insider Activity

In other news, President Matthew L. Bloomfield acquired 4,000 shares of the firm's stock in a transaction on Thursday, March 6th. The shares were purchased at an average cost of $15.48 per share, with a total value of $61,920.00. Following the acquisition, the president now directly owns 41,478 shares in the company, valued at $642,079.44. This represents a 10.67 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.96% of the company's stock.

Palmer Square Capital BDC Price Performance

Shares of Palmer Square Capital BDC stock traded down $0.34 on Friday, hitting $12.81. The company had a trading volume of 26,937 shares, compared to its average volume of 27,825. Palmer Square Capital BDC Inc. has a twelve month low of $11.89 and a twelve month high of $17.02. The stock has a 50-day moving average of $14.45 and a 200-day moving average of $15.35. The firm has a market capitalization of $417.60 million, a P/E ratio of 6.67 and a beta of 0.60.

Palmer Square Capital BDC Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 10th. Shareholders of record on Friday, March 28th were issued a $0.36 dividend. The ex-dividend date was Friday, March 28th. This represents a $1.44 annualized dividend and a dividend yield of 11.25%. Palmer Square Capital BDC's dividend payout ratio is currently 97.30%.

Wall Street Analysts Forecast Growth

Separately, UBS Group decreased their price target on shares of Palmer Square Capital BDC from $16.50 to $14.00 and set a "neutral" rating on the stock in a research note on Thursday.

Palmer Square Capital BDC 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.