Palmer Square Capital BDC (NYSE:PSBD) Stock Price Up 1% - Should You Buy?

Palmer Square Capital BDC Inc. (NYSE:PSBD - Get Free Report)'s share price was up 1% during mid-day trading on Tuesday . The stock traded as high as $13.58 and last traded at $13.01. Approximately 50,533 shares changed hands during mid-day trading, an increase of 80% from the average daily volume of 28,042 shares. The stock had previously closed at $12.88.

Analyst Upgrades and Downgrades

Separately, UBS Group lowered their price objective on Palmer Square Capital BDC from $16.50 to $14.00 and set a "neutral" rating on the stock in a research report on Thursday.

Palmer Square Capital BDC Stock Performance

The company has a market cap of $417.60 million, a P/E ratio of 6.67 and a beta of 0.60. The firm's 50-day simple moving average is $14.45 and its 200 day simple moving average is $15.35.

Palmer Square Capital BDC Cuts Dividend

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

Insider Transactions at Palmer Square Capital BDC

In other Palmer Square Capital BDC news, President Matthew L. Bloomfield bought 4,000 shares of the firm's stock in a transaction on Thursday, March 6th. The shares were purchased at an average price of $15.48 per share, for a total transaction of $61,920.00. Following the transaction, the president now directly owns 41,478 shares in the company, valued at approximately $642,079.44. This trade represents a 10.67 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.96% of the company's stock.

Institutional Trading of Palmer Square Capital BDC

A number of hedge funds have recently added to or reduced their stakes in the stock. Cubist Systematic Strategies LLC lifted its holdings in Palmer Square Capital BDC by 995.9% in the fourth quarter. Cubist Systematic Strategies LLC now owns 2,433 shares of the company's stock valued at $37,000 after buying an additional 2,211 shares during the period. Wells Fargo & Company MN grew its stake in 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 valued at $114,000 after buying an additional 5,482 shares in the last quarter. Atwood & Palmer Inc. purchased a new stake in Palmer Square Capital BDC in the 1st quarter worth approximately $453,000. Marble Harbor Investment Counsel LLC lifted its position in Palmer Square Capital BDC by 24.3% during the fourth 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 during the last quarter. Finally, Citadel Advisors LLC grew its position in Palmer Square Capital BDC by 32.9% during the fourth quarter. Citadel Advisors LLC now owns 42,203 shares of the company's stock valued at $641,000 after acquiring an additional 10,457 shares during the last quarter. Institutional investors and hedge funds own 6.52% of the company's stock.

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.