73,684 Shares in Palmer Square Capital BDC Inc. $PSBD Purchased by NewGen Asset Management Ltd

NewGen Asset Management Ltd purchased a new stake in Palmer Square Capital BDC Inc. (NYSE:PSBD) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 73,684 shares of the company’s stock, valued at approximately $720,000. Palmer Square Capital BDC makes up about 0.3% of NewGen Asset Management Ltd’s portfolio, making the stock its 20th largest holding. NewGen Asset Management Ltd owned approximately 0.24% of Palmer Square Capital BDC at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Catalyst Capital Advisors LLC bought a new position in shares of Palmer Square Capital BDC in the first quarter worth approximately $33,000. Waterfront Wealth Inc. purchased a new stake in shares of Palmer Square Capital BDC during the 1st quarter valued at $413,000. TrueMark Investments LLC bought a new stake in shares of Palmer Square Capital BDC during the 1st quarter worth $188,000. Nottingham Advisors Inc. purchased a new position in Palmer Square Capital BDC in the first quarter worth $305,000. Finally, XTX Topco Ltd bought a new position in Palmer Square Capital BDC in the fourth quarter valued at $351,000. Institutional investors own 6.52% of the company’s stock.

Palmer Square Capital BDC Trading Down 1.5%

Shares of Palmer Square Capital BDC stock opened at $9.68 on Tuesday. Palmer Square Capital BDC Inc. has a 12-month low of $9.34 and a 12-month high of $14.43. The company has a market cap of $301.33 million, a P/E ratio of -9.31 and a beta of 0.81. The company’s fifty day simple moving average is $10.60 and its two-hundred day simple moving average is $10.91.

Palmer Square Capital BDC Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 13th. Investors of record on Friday, June 26th were given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 14.9%. The ex-dividend date of this dividend was Friday, June 26th. Palmer Square Capital BDC’s dividend payout ratio (DPR) is -138.46%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Royal Bank Of Canada reduced their price objective on Palmer Square Capital BDC from $12.00 to $11.00 and set a “sector perform” rating on the stock in a research report on Wednesday, May 27th. Noble Financial assumed coverage on shares of Palmer Square Capital BDC in a research report on Wednesday, June 24th. They issued a “neutral” rating on the stock. JPMorgan Chase & Co. decreased their price objective on Palmer Square Capital BDC from $10.00 to $9.50 and set a “neutral” rating on the stock in a report on Thursday, July 2nd. UBS Group lowered their price objective on Palmer Square Capital BDC from $11.50 to $11.00 and set a “neutral” rating for the company in a research report on Monday, April 20th. Finally, Wells Fargo & Company set a $11.50 price target on shares of Palmer Square Capital BDC in a report on Wednesday, June 24th. Four research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average price target of $10.75.

Insider Transactions at Palmer Square Capital BDC

In other Palmer Square Capital BDC news, major shareholder Martin C. Bicknell purchased 40,000 shares of the stock in a transaction dated Monday, July 6th. The shares were purchased at an average cost of $10.56 per share, with a total value of $422,400.00. Following the completion of the acquisition, the insider directly owned 351,988 shares in the company, valued at $3,716,993.28. This trade represents a 12.82% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders acquired a total of 108,472 shares of company stock worth $1,155,558 in the last three months. 1.10% of the stock is currently owned by insiders.

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.