Palmer Square Capital BDC Inc. (NYSE:PSBD) Short Interest Update

Palmer Square Capital BDC Inc. (NYSE:PSBD - Get Free Report) was the target of a significant decrease in short interest in the month of October. As of October 15th, there was short interest totalling 19,400 shares, a decrease of 60.0% from the September 30th total of 48,500 shares. Currently, 0.1% of the shares of the stock are short sold. Based on an average daily volume of 31,000 shares, the days-to-cover ratio is presently 0.6 days.

Institutional Trading of Palmer Square Capital BDC

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Apollo Management Holdings L.P. acquired a new stake in Palmer Square Capital BDC during the 1st quarter worth about $9,713,000. Confluence Investment Management LLC raised its holdings 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 buying an additional 35,240 shares during the period. Capstone Investment Advisors LLC acquired a new stake in Palmer Square Capital BDC during the 1st quarter worth about $1,032,000. Hennion & Walsh Asset Management Inc. acquired a new stake in Palmer Square Capital BDC during the 3rd quarter worth about $792,000. Finally, Marble Harbor Investment Counsel LLC acquired a new position in shares of Palmer Square Capital BDC in the 2nd quarter valued at about $315,000. Institutional investors and hedge funds own 6.52% of the company's stock.

Analyst Ratings Changes

Separately, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $17.00 price objective on shares of Palmer Square Capital BDC in a report on Tuesday, August 13th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $16.93.

Palmer Square Capital BDC Stock Performance

Palmer Square Capital BDC stock remained flat at $16.25 during midday trading on Friday. 27,965 shares of the company's stock traded hands, compared to its average volume of 47,453. The business's 50 day simple moving average is $16.21 and its 200-day simple moving average is $16.36. Palmer Square Capital BDC has a 12-month low of $15.27 and a 12-month high of $17.12.

Palmer Square Capital BDC (NYSE:PSBD - Get Free Report) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.48 EPS for the quarter, missing the consensus estimate 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%. On average, equities analysts predict that Palmer Square Capital BDC will post 1.97 EPS for the current fiscal year.

Palmer Square Capital BDC Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 14th. Shareholders of record on Friday, September 27th were issued a dividend of $0.42 per share. The ex-dividend date was Friday, September 27th. This represents a $1.68 annualized dividend and a yield of 10.34%.

About Palmer Square Capital BDC

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.