Thor Investment Management Inc. OH ADV Acquires 77,731 Shares of Palmer Square Capital BDC Inc. $PSBD

Thor Investment Management Inc. OH ADV bought a new position in Palmer Square Capital BDC Inc. (NYSE:PSBD) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 77,731 shares of the company’s stock, valued at approximately $769,000. Thor Investment Management Inc. OH ADV owned 0.25% of Palmer Square Capital BDC as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in PSBD. Catalyst Capital Advisors LLC purchased a new stake in shares of Palmer Square Capital BDC during the first quarter valued at $33,000. TrueMark Investments LLC purchased a new position in Palmer Square Capital BDC in the 1st quarter worth about $188,000. Nottingham Advisors Inc. purchased a new position in Palmer Square Capital BDC in the 1st quarter worth about $305,000. Waterfront Wealth Inc. bought a new stake in Palmer Square Capital BDC during the 1st quarter valued at about $413,000. Finally, NewGen Asset Management Ltd bought a new stake in Palmer Square Capital BDC during the 1st quarter valued at about $720,000. 6.52% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on PSBD. Noble Financial assumed coverage on shares of Palmer Square Capital BDC in a research report on Wednesday, June 24th. They issued a “neutral” rating for the company. JPMorgan Chase & Co. reduced their target price on shares of Palmer Square Capital BDC from $10.00 to $9.50 and set a “neutral” rating on the stock in a research report on Thursday, July 2nd. Wells Fargo & Company set a $11.50 target price on shares of Palmer Square Capital BDC in a research report on Wednesday, June 24th. Wall Street Zen raised shares of Palmer Square Capital BDC from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Finally, UBS Group lowered their price target on Palmer Square Capital BDC from $11.00 to $10.00 and set a “neutral” rating for the company in a report on Tuesday, September 1st. Five research analysts have rated the stock with a Hold rating. According to MarketBeat, Palmer Square Capital BDC has an average rating of “Hold” and an average price target of $10.50.

Palmer Square Capital BDC Trading Down 1.3%

Shares of PSBD traded down $0.12 during mid-day trading on Tuesday, hitting $9.60. The company’s stock had a trading volume of 300,464 shares, compared to its average volume of 115,253. The company’s 50-day moving average is $10.18 and its 200-day moving average is $10.36. Palmer Square Capital BDC Inc. has a 52-week low of $9.34 and a 52-week high of $12.97. The firm has a market capitalization of $294.12 million, a price-to-earnings ratio of -9.69 and a beta of 0.87.

Palmer Square Capital BDC (NYSE:PSBD) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.16). The business had revenue of $27.30 million for the quarter, compared to analysts’ expectations of $25.97 million. Palmer Square Capital BDC had a negative net margin of 26.73% and a positive return on equity of 11.22%. As a group, sell-side analysts predict that Palmer Square Capital BDC Inc. will post 1.50 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 Tuesday, October 13th. Shareholders of record on Friday, September 25th will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 15.0%. The ex-dividend date of this dividend is Friday, September 25th. Palmer Square Capital BDC’s dividend payout ratio (DPR) is -145.45%.

Palmer Square Capital BDC Company Profile

Palmer Square Capital BDC, Inc (NYSE: PSBD) is a business development company focused on providing financing to middle-market companies. The company seeks to generate current income and, to a lesser extent, capital appreciation by investing in privately negotiated debt and other securities.

Its portfolio primarily consists of senior secured loans and other debt investments, with the potential to invest in subordinated debt, equity securities and related instruments. Through these investments, Palmer Square Capital BDC provides capital to companies that may not have access to traditional bank financing or public debt markets.

Palmer Square Capital BDC is externally managed by an affiliate of Palmer Square Capital Management, an investment management firm specializing in credit and structured finance.