Palmer Square Capital BDC (NYSE:PSBD) Stock Price Up 0.6% - Time to Buy?

Palmer Square Capital BDC Inc. (NYSE:PSBD - Get Free Report) shot up 0.6% during mid-day trading on Monday . The company traded as high as $16.10 and last traded at $16.09. 10,749 shares were traded during trading, a decline of 76% from the average session volume of 44,574 shares. The stock had previously closed at $16.00.

Wall Street Analysts Forecast Growth

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

Palmer Square Capital BDC Stock Down 1.2 %

The company has a market capitalization of $519.14 million and a price-to-earnings ratio of 8.28. The company's 50 day simple moving average is $16.00 and its two-hundred day simple moving average is $16.26.

Palmer Square Capital BDC Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Friday, December 27th will be paid a $0.42 dividend. The ex-dividend date is Friday, December 27th. This represents a $1.68 annualized dividend and a yield of 10.57%. Palmer Square Capital BDC's dividend payout ratio (DPR) is 87.50%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Renaissance Technologies LLC purchased a new position in shares of Palmer Square Capital BDC in the second quarter worth $173,000. Marble Harbor Investment Counsel LLC purchased a new position in shares of Palmer Square Capital BDC during the second quarter worth $315,000. Hennion & Walsh Asset Management Inc. purchased a new position in shares of Palmer Square Capital BDC during the third quarter worth $792,000. Confluence Investment Management LLC raised its holdings in shares of Palmer Square Capital BDC by 22.1% during the third quarter. Confluence Investment Management LLC now owns 104,082 shares of the company's stock worth $1,697,000 after purchasing an additional 18,842 shares during the last quarter. Finally, FMR LLC raised its holdings in shares of Palmer Square Capital BDC by 7.3% during the third quarter. FMR LLC now owns 383,125 shares of the company's stock worth $6,245,000 after purchasing an additional 25,951 shares during the last quarter. Hedge funds and other institutional investors own 6.52% of the company's stock.

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.