Millennium Management LLC Decreases Stock Position in Palmer Square Capital BDC Inc. (NYSE:PSBD)

Millennium Management LLC decreased its holdings in Palmer Square Capital BDC Inc. (NYSE:PSBD - Free Report) by 14.1% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 190,352 shares of the company's stock after selling 31,355 shares during the quarter. Millennium Management LLC owned 0.58% of Palmer Square Capital BDC worth $3,076,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of PSBD. Capstone Investment Advisors LLC purchased a new stake in shares of Palmer Square Capital BDC during the 1st quarter valued at about $1,032,000. Dorsey & Whitney Trust CO LLC purchased a new stake in shares of Palmer Square Capital BDC during the 1st quarter valued at about $170,000. Apollo Management Holdings L.P. purchased a new stake in shares of Palmer Square Capital BDC during the 1st quarter valued at about $9,713,000. Confluence Investment Management LLC increased its position in shares of 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 valued at $1,377,000 after purchasing an additional 35,240 shares during the last quarter. Finally, Marble Harbor Investment Counsel LLC purchased a new stake in shares of Palmer Square Capital BDC during the 2nd quarter valued at about $315,000. Hedge funds and other institutional investors own 6.52% of the company's stock.

Palmer Square Capital BDC Trading Up 0.3 %

PSBD stock traded up $0.05 during midday trading on Tuesday, hitting $16.14. The company's stock had a trading volume of 27,137 shares, compared to its average volume of 47,899. Palmer Square Capital BDC Inc. has a 12 month low of $15.27 and a 12 month high of $17.12. The company has a 50 day moving average of $16.22 and a two-hundred day moving average of $16.36.

Palmer Square Capital BDC (NYSE:PSBD - Get Free Report) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.03). Palmer Square Capital BDC had a return on equity of 16.13% and a net margin of 64.65%. The business had revenue of $36.55 million during the quarter, compared to the consensus estimate of $36.27 million. Research analysts anticipate that Palmer Square Capital BDC Inc. will post 1.97 EPS for the current fiscal year.

Palmer Square Capital BDC Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, October 14th. Stockholders of record on Friday, September 27th were given a dividend of $0.42 per share. The ex-dividend date of this dividend was Friday, September 27th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 10.41%.

Analyst Ratings Changes

Separately, Royal Bank of Canada reissued 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 investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average 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.