Palmer Square Capital BDC Inc. $PSBD Shares Purchased by Rivernorth Capital Management LLC

Rivernorth Capital Management LLC grew its position in shares of Palmer Square Capital BDC Inc. (NYSE:PSBD) by 43.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 834,603 shares of the company’s stock after purchasing an additional 254,061 shares during the quarter. Rivernorth Capital Management LLC’s holdings in Palmer Square Capital BDC were worth $8,154,000 as of its most recent filing with the SEC.

Other large investors have also bought and sold shares of the company. Jane Street Group LLC acquired a new position in Palmer Square Capital BDC during the first quarter worth about $360,000. Bank of America Corp DE raised its holdings in shares of Palmer Square Capital BDC by 5.0% during the second quarter. Bank of America Corp DE now owns 300,575 shares of the company’s stock valued at $4,196,000 after acquiring an additional 14,220 shares during the period. Two Sigma Investments LP lifted its holdings in shares of Palmer Square Capital BDC by 142.9% in the third quarter. Two Sigma Investments LP now owns 131,545 shares of the company’s stock valued at $1,614,000 after purchasing an additional 77,393 shares in the last quarter. Citadel Advisors LLC acquired a new stake in Palmer Square Capital BDC during the 3rd quarter worth about $230,000. Finally, Millennium Management LLC boosted its position in Palmer Square Capital BDC by 2.0% during the third quarter. Millennium Management LLC now owns 134,249 shares of the company’s stock valued at $1,647,000 after purchasing an additional 2,638 shares during the last quarter. Institutional investors own 6.52% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on PSBD shares. Royal Bank Of Canada lowered their price target on Palmer Square Capital BDC from $12.00 to $11.00 and set a “sector perform” rating for the company in a research note on Wednesday, May 27th. Wells Fargo & Company set a $11.50 target price on shares of Palmer Square Capital BDC in a research note on Wednesday, June 24th. Zacks Research downgraded shares of Palmer Square Capital BDC from a “hold” rating to a “strong sell” rating in a research report on Friday, May 22nd. UBS Group dropped their price target on shares of Palmer Square Capital BDC from $11.50 to $11.00 and set a “neutral” rating on the stock in a research note on Monday, April 20th. Finally, Noble Financial assumed coverage on shares of Palmer Square Capital BDC in a research note on Wednesday, June 24th. They issued a “neutral” rating for the company. Four analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Palmer Square Capital BDC presently has a consensus rating of “Reduce” and an average price target of $10.75.

Insiders Place Their Bets

In other Palmer Square Capital BDC news, major shareholder Martin C. Bicknell purchased 40,000 shares of the stock in a transaction dated Monday, July 6th. The shares were bought at an average cost of $10.56 per share, with a total value of $422,400.00. Following the completion of the transaction, the insider owned 351,988 shares in the company, valued at $3,716,993.28. This trade represents a 12.82% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last three months, insiders have acquired 108,472 shares of company stock worth $1,155,558. 1.10% of the stock is owned by insiders.

Palmer Square Capital BDC Stock Up 2.3%

Shares of PSBD stock opened at $9.86 on Wednesday. Palmer Square Capital BDC Inc. has a 12 month low of $9.34 and a 12 month high of $14.43. The company has a market cap of $306.84 million, a PE ratio of -9.48 and a beta of 0.81. The business’s 50 day moving average is $10.48 and its two-hundred day moving average is $10.80.

Palmer Square Capital BDC Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 13th. Investors of record on Friday, June 26th were issued a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 14.6%. The ex-dividend date was Friday, June 26th. Palmer Square Capital BDC’s dividend payout ratio (DPR) is -138.46%.

Palmer Square Capital BDC Profile

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.