Palmer Square Capital BDC Inc. (NYSE:PSBD) Short Interest Up 225.5% in September

Palmer Square Capital BDC Inc. (NYSE:PSBD - Get Free Report) was the recipient of a significant increase in short interest in September. As of September 30th, there was short interest totalling 48,500 shares, an increase of 225.5% from the September 15th total of 14,900 shares. Approximately 0.3% of the company's stock are sold short. Based on an average daily volume of 33,300 shares, the short-interest ratio is presently 1.5 days.

Palmer Square Capital BDC Trading Up 0.2 %

Palmer Square Capital BDC stock traded up $0.03 during mid-day trading on Thursday, hitting $15.99. 17,229 shares of the company traded hands, compared to its average volume of 48,291. The stock has a fifty day moving average price of $16.23 and a 200-day moving average price of $16.37. Palmer Square Capital BDC has a one year low of $15.27 and a one year high of $17.12.

Palmer Square Capital BDC (NYSE:PSBD - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $36.55 million during 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%. Analysts expect that Palmer Square Capital BDC will post 1.97 earnings per share for the current fiscal year.

Palmer Square Capital BDC Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, October 14th. Shareholders of record on Friday, September 27th will be issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 10.51%. The ex-dividend date is Friday, September 27th.

Institutional Trading of Palmer Square Capital BDC

A number of institutional investors have recently modified their holdings of the company. Renaissance Technologies LLC bought a new stake in Palmer Square Capital BDC in the second quarter valued at $173,000. Marble Harbor Investment Counsel LLC purchased a new position in shares of Palmer Square Capital BDC during the second quarter valued at about $315,000. Confluence Investment Management LLC raised its stake in 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 worth $1,377,000 after buying an additional 35,240 shares in the last quarter. Apollo Management Holdings L.P. bought a new position in Palmer Square Capital BDC in the first quarter worth about $9,713,000. Finally, Dorsey & Whitney Trust CO LLC purchased a new stake in Palmer Square Capital BDC in the first quarter worth about $170,000. 6.52% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Royal Bank of Canada restated an "outperform" rating and issued a $17.00 target price 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 issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus 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.

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