Opal Wealth Advisors LLC Takes $931,000 Position in Palmer Square Capital BDC Inc. $PSBD

Opal Wealth Advisors LLC purchased a new stake in shares of Palmer Square Capital BDC Inc. (NYSE:PSBD) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 76,334 shares of the company’s stock, valued at approximately $931,000. Opal Wealth Advisors LLC owned 0.24% of Palmer Square Capital BDC as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of PSBD. Jane Street Group LLC acquired a new position in shares of Palmer Square Capital BDC during the first quarter valued at $360,000. Bank of America Corp DE boosted 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. Confluence Investment Management LLC boosted its holdings in shares of Palmer Square Capital BDC by 18.7% during the third quarter. Confluence Investment Management LLC now owns 25,763 shares of the company’s stock valued at $316,000 after acquiring an additional 4,065 shares during the period. Mid American Wealth Advisory Group Inc. acquired a new position in shares of Palmer Square Capital BDC during the third quarter valued at $367,000. Finally, Evolution Wealth Management Inc. acquired a new position in shares of Palmer Square Capital BDC during the third quarter valued at $71,000. Institutional investors and hedge funds own 6.52% of the company’s stock.

Palmer Square Capital BDC Trading Up 2.7%

Shares of Palmer Square Capital BDC stock opened at $10.78 on Thursday. The company’s 50-day moving average price is $10.69 and its two-hundred day moving average price is $11.64. Palmer Square Capital BDC Inc. has a 52 week low of $9.34 and a 52 week high of $14.98. The stock has a market cap of $336.30 million, a PE ratio of -97.99 and a beta of 0.70.

Palmer Square Capital BDC (NYSE:PSBD) last issued its quarterly earnings results on Thursday, February 26th. The company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.01). Palmer Square Capital BDC had a positive return on equity of 10.82% and a negative net margin of 2.55%.The business had revenue of ($0.31) million during the quarter, compared to the consensus estimate of $30.11 million. On average, equities analysts predict that Palmer Square Capital BDC Inc. will post 1.96 EPS for the current fiscal year.

Palmer Square Capital BDC Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 9th. Shareholders of record on Friday, March 27th were given a $0.36 dividend. The ex-dividend date was Friday, March 27th. This represents a $1.44 annualized dividend and a yield of 13.4%. Palmer Square Capital BDC’s payout ratio is -1,309.09%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on PSBD shares. JPMorgan Chase & Co. reduced 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 report on Friday, March 13th. Royal Bank Of Canada cut 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 note on Thursday, March 5th. Finally, UBS Group cut their price objective on shares of Palmer Square Capital BDC from $13.00 to $11.50 and set a “neutral” rating on the stock in a research note on Friday, March 13th. Four research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $11.88.

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.