Palmer Square Capital BDC (NYSE:PSBD) Price Target Cut to $10.00 by Analysts at JPMorgan Chase & Co.

Palmer Square Capital BDC (NYSE:PSBD) had its price objective reduced by equities researchers at JPMorgan Chase & Co. from $11.50 to $10.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target would suggest a potential downside of 3.75% from the company’s previous close.

A number of other analysts have also recently weighed in on the company. UBS Group decreased their price objective on Palmer Square Capital BDC from $13.50 to $13.00 and set a “neutral” rating for the company in a research report on Wednesday, November 19th. Royal Bank Of Canada dropped their target price on Palmer Square Capital BDC from $13.00 to $12.00 and set a “sector perform” rating on the stock in a report on Thursday, March 5th. Four analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $12.25.

Palmer Square Capital BDC Stock Performance

NYSE PSBD traded down $0.22 during trading on Friday, reaching $10.39. The company’s stock had a trading volume of 15,928 shares, compared to its average volume of 84,406. The business’s fifty day moving average price is $11.48 and its 200-day moving average price is $12.21. Palmer Square Capital BDC has a twelve month low of $10.10 and a twelve month high of $15.30. The firm has a market cap of $324.17 million, a price-to-earnings ratio of -94.45 and a beta of 0.78.

Palmer Square Capital BDC (NYSE:PSBD) last announced its earnings results on Thursday, February 26th. The company reported $0.41 earnings per share 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 for the quarter, compared to analyst estimates of $30.11 million. As a group, sell-side analysts forecast that Palmer Square Capital BDC will post 1.96 EPS for the current fiscal year.

Institutional Investors Weigh In On Palmer Square Capital BDC

A number of hedge funds have recently added to or reduced their stakes in PSBD. Evolution Wealth Management Inc. purchased a new position in Palmer Square Capital BDC in the 3rd quarter valued at approximately $71,000. Harbour Investments Inc. purchased a new stake in Palmer Square Capital BDC during the fourth quarter worth $85,000. Citadel Advisors LLC acquired a new stake in Palmer Square Capital BDC in the third quarter valued at $230,000. Prime Capital Investment Advisors LLC acquired a new stake in Palmer Square Capital BDC in the third quarter valued at $301,000. Finally, Clear Harbor Asset Management LLC purchased a new position in shares of Palmer Square Capital BDC in the fourth quarter valued at $305,000. Institutional investors and hedge funds own 6.52% of the company’s stock.

Palmer Square Capital BDC Company 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.