Short Interest in Palmer Square Capital BDC Inc. (NYSE:PSBD) Expands By 35.7%

Palmer Square Capital BDC Inc. (NYSE:PSBD) was the recipient of a significant growth in short interest in the month of February. As of February 27th, there was short interest totaling 260,911 shares, a growth of 35.7% from the February 12th total of 192,232 shares. Approximately 0.8% of the shares of the company are short sold. Based on an average trading volume of 80,877 shares, the days-to-cover ratio is presently 3.2 days. Based on an average trading volume of 80,877 shares, the days-to-cover ratio is presently 3.2 days. Approximately 0.8% of the shares of the company are short sold.

Palmer Square Capital BDC Stock Performance

NYSE PSBD traded up $0.04 during mid-day trading on Monday, reaching $10.29. 18,147 shares of the stock were exchanged, compared to its average volume of 85,014. The business’s 50 day moving average is $11.44 and its 200-day moving average is $12.16. Palmer Square Capital BDC has a 1 year low of $10.10 and a 1 year high of $14.98. The company has a market capitalization of $320.89 million, a P/E ratio of -93.50 and a beta of 0.78.

Palmer Square Capital BDC (NYSE:PSBD) last released its quarterly earnings data on Thursday, February 26th. The company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.01). The firm had revenue of ($0.31) million during the quarter, compared to analysts’ expectations of $30.11 million. Palmer Square Capital BDC had a negative net margin of 2.55% and a positive return on equity of 10.82%. Equities analysts predict that Palmer Square Capital BDC will post 1.96 earnings per share for the current fiscal year.

Palmer Square Capital BDC Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 9th. Stockholders of record on Friday, March 27th will be paid a dividend of $0.36 per share. The ex-dividend date of this dividend is Friday, March 27th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 14.0%. Palmer Square Capital BDC’s payout ratio is currently -1,309.09%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Evolution Wealth Management Inc. acquired a new position in shares of Palmer Square Capital BDC during the third quarter valued at approximately $71,000. Harbour Investments Inc. acquired a new position in shares of Palmer Square Capital BDC during the 4th quarter valued at about $85,000. Citadel Advisors LLC acquired a new position in Palmer Square Capital BDC in the 3rd quarter valued at about $230,000. Prime Capital Investment Advisors LLC purchased a new position in Palmer Square Capital BDC in the third quarter worth approximately $301,000. Finally, Clear Harbor Asset Management LLC purchased a new position in shares of Palmer Square Capital BDC during the 4th quarter worth $305,000. 6.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. UBS Group decreased their target price on shares of Palmer Square Capital BDC from $13.00 to $11.50 and set a “neutral” rating for the company in a research report on Friday. JPMorgan Chase & Co. cut their price target on Palmer Square Capital BDC from $11.50 to $10.00 and set a “neutral” rating on the stock in a research report on Friday. Finally, Royal Bank Of Canada reduced their price objective on Palmer Square Capital BDC from $13.00 to $12.00 and set a “sector perform” rating for the company in a research note on Thursday, March 5th. Four research analysts have rated the stock with a Hold rating, According to data from MarketBeat, Palmer Square Capital BDC currently has a consensus rating of “Hold” and an average target price of $11.88.

About Palmer Square Capital BDC

Palmer Square Capital BDC Inc (NYSE: PSBD) is a closed-end, externally managed business development company that provides customized financing solutions to middle-market companies in the United States. The firm offers a broad range of debt and equity products—including first-lien and second-lien senior secured loans, unitranche financings, mezzanine debt and equity co-investments—to support corporate acquisitions, refinancings, growth initiatives and balance sheet restructurings.

PSBD primarily targets established privately owned and sponsored businesses across diverse industries such as healthcare, business services, industrials and consumer products.