UBS Group Issues Pessimistic Forecast for Palmer Square Capital BDC (NYSE:PSBD) Stock Price

Palmer Square Capital BDC (NYSE:PSBD) had its price objective lowered by analysts at UBS Group from $13.00 to $11.50 in a research report issued on Friday,Benzinga reports. The firm currently has a “neutral” rating on the stock. UBS Group’s price objective suggests a potential upside of 11.43% from the stock’s previous close.

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

Palmer Square Capital BDC Stock Down 2.7%

Shares of PSBD opened at $10.32 on Friday. The business has a fifty day moving average of $11.44 and a 200 day moving average of $12.17. The company has a market cap of $321.97 million, a PE ratio of -93.82 and a beta of 0.78. Palmer Square Capital BDC has a 52-week low of $10.10 and a 52-week high of $15.30.

Palmer Square Capital BDC (NYSE:PSBD) last posted 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). Palmer Square Capital BDC had a negative net margin of 2.55% and a positive return on equity of 10.82%. The firm had revenue of ($0.31) million for the quarter, compared to the consensus estimate of $30.11 million. As a group, research analysts anticipate that Palmer Square Capital BDC will post 1.96 earnings per share for the current fiscal year.

Institutional Trading of Palmer Square Capital BDC

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

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.