UBS Group Lowers Palmer Square Capital BDC (NYSE:PSBD) Price Target to $14.00

Palmer Square Capital BDC (NYSE:PSBD) had its price objective reduced by equities research analysts at UBS Group from $16.50 to $14.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. UBS Group’s price target suggests a potential upside of 9.25% from the stock’s current price.

Palmer Square Capital BDC Stock Performance

NYSE:PSBD traded down $0.33 during mid-day trading on Thursday, reaching $12.82. 23,744 shares of the company’s stock were exchanged, compared to its average volume of 33,839. The firm has a market capitalization of $417.92 million, a PE ratio of 6.67 and a beta of 0.60. Palmer Square Capital BDC has a one year low of $11.89 and a one year high of $17.02. The business’s fifty day simple moving average is $14.51 and its two-hundred day simple moving average is $15.37.

Insider Buying and Selling at Palmer Square Capital BDC

In other news, President Matthew L. Bloomfield bought 4,000 shares of the company’s stock in a transaction dated Thursday, March 6th. The stock was bought at an average cost of $15.48 per share, for a total transaction of $61,920.00. Following the transaction, the president now owns 41,478 shares of the company’s stock, valued at $642,079.44. This represents a 10.67 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.96% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in PSBD. Cubist Systematic Strategies LLC lifted its position in shares of Palmer Square Capital BDC by 995.9% during the 4th quarter. Cubist Systematic Strategies LLC now owns 2,433 shares of the company’s stock worth $37,000 after buying an additional 2,211 shares during the last quarter. Wells Fargo & Company MN boosted its stake in shares of Palmer Square Capital BDC by 271.5% in the 4th 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 in the last quarter. Marble Harbor Investment Counsel LLC increased its position in Palmer Square Capital BDC by 24.3% during the 4th quarter. Marble Harbor Investment Counsel LLC now owns 31,950 shares of the company’s stock worth $486,000 after purchasing an additional 6,250 shares in the last quarter. Atwood & Palmer Inc. acquired a new position in Palmer Square Capital BDC during the 1st quarter worth approximately $453,000. Finally, Citadel Advisors LLC lifted its stake in Palmer Square Capital BDC by 32.9% in the 4th quarter. Citadel Advisors LLC now owns 42,203 shares of the company’s stock valued at $641,000 after purchasing an additional 10,457 shares during the last quarter. 6.52% of the stock is currently owned by institutional investors and hedge funds.

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.