Cubist Systematic Strategies LLC Purchases 2,211 Shares of Palmer Square Capital BDC Inc. (NYSE:PSBD)

Cubist Systematic Strategies LLC lifted its position in Palmer Square Capital BDC Inc. (NYSE:PSBD) by 995.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,433 shares of the company’s stock after buying an additional 2,211 shares during the period. Cubist Systematic Strategies LLC’s holdings in Palmer Square Capital BDC were worth $37,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Wells Fargo & Company MN lifted its position in Palmer Square Capital BDC by 271.5% during the fourth quarter. Wells Fargo & Company MN now owns 7,501 shares of the company’s stock valued at $114,000 after purchasing an additional 5,482 shares during the period. 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 period. Citadel Advisors LLC raised its position in Palmer Square Capital BDC by 32.9% in the fourth quarter. Citadel Advisors LLC now owns 42,203 shares of the company’s stock worth $641,000 after acquiring an additional 10,457 shares during the period. Franklin Resources Inc. raised its position in Palmer Square Capital BDC by 72.0% in the fourth quarter. Franklin Resources Inc. now owns 57,866 shares of the company’s stock worth $880,000 after acquiring an additional 24,232 shares during the period. Finally, Bank of New York Mellon Corp raised its position in Palmer Square Capital BDC by 120.3% in the fourth quarter. Bank of New York Mellon Corp now owns 77,878 shares of the company’s stock worth $1,184,000 after acquiring an additional 42,533 shares during the period. Institutional investors own 6.52% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on PSBD shares. Oppenheimer cut shares of Palmer Square Capital BDC from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $17.00 to $14.00 in a research note on Friday, May 9th. JPMorgan Chase & Co. reduced their price objective on shares of Palmer Square Capital BDC from $16.00 to $13.50 and set an “overweight” rating for the company in a research note on Thursday, April 24th. Finally, UBS Group cut their target price on shares of Palmer Square Capital BDC from $16.50 to $14.00 and set a “neutral” rating for the company in a research note on Thursday, April 17th.

Palmer Square Capital BDC Stock Performance

PSBD opened at $13.95 on Tuesday. The stock has a market capitalization of $451.60 million, a price-to-earnings ratio of 7.27 and a beta of 0.63. The company has a fifty day moving average of $13.37 and a 200 day moving average of $14.86. Palmer Square Capital BDC Inc. has a fifty-two week low of $11.51 and a fifty-two week high of $16.85.

Palmer Square Capital BDC (NYSE:PSBD) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.40 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.04). Palmer Square Capital BDC had a net margin of 41.67% and a return on equity of 11.97%. The business had revenue of $31.21 million for the quarter, compared to the consensus estimate of $32.55 million. On average, equities research analysts forecast that Palmer Square Capital BDC Inc. will post 1.96 earnings per share for the current year.

Palmer Square Capital BDC Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 14th. Shareholders of record on Friday, June 27th will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Friday, June 27th. This represents a $1.44 annualized dividend and a yield of 10.32%. Palmer Square Capital BDC’s dividend payout ratio (DPR) is currently 288.00%.

Insider Buying and Selling at Palmer Square Capital BDC

In other news, President Matthew L. Bloomfield bought 4,000 shares of the stock in a transaction dated Thursday, March 6th. The stock was purchased at an average price of $15.48 per share, for a total transaction of $61,920.00. Following the acquisition, the president now owns 41,478 shares of the company’s stock, valued at $642,079.44. The trade was a 10.67% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.96% of the stock is owned by company insiders.

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.