Palmer Square Capital BDC (NYSE:PSBD) Price Target Cut to $13.00 by Analysts at UBS Group

Palmer Square Capital BDC (NYSE:PSBD) had its price objective cut by stock analysts at UBS Group from $13.50 to $13.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. UBS Group’s price objective would suggest a potential upside of 8.38% from the stock’s previous close.

Separately, JPMorgan Chase & Co. reiterated a “neutral” rating and set a $12.00 target price (down from $14.00) on shares of Palmer Square Capital BDC in a research note on Wednesday, October 1st. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $13.50.

Palmer Square Capital BDC Stock Performance

Shares of NYSE PSBD traded up $0.13 during midday trading on Wednesday, reaching $12.00. 5,180 shares of the company’s stock were exchanged, compared to its average volume of 57,074. Palmer Square Capital BDC has a 52-week low of $11.51 and a 52-week high of $16.25. The stock has a market capitalization of $379.04 million, a PE ratio of 27.90 and a beta of 0.71. The business’s fifty day moving average price is $12.57 and its two-hundred day moving average price is $13.43.

Palmer Square Capital BDC (NYSE:PSBD) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.02. Palmer Square Capital BDC had a return on equity of 10.77% and a net margin of 10.85%.The firm had revenue of $31.69 million during the quarter, compared to the consensus estimate of $30.61 million. Analysts predict that Palmer Square Capital BDC will post 1.96 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Palmer Square Capital BDC

A number of institutional investors have recently made changes to their positions in the company. Gibson Capital LLC acquired a new position in Palmer Square Capital BDC in the second quarter worth $174,000. 1248 Management LLC raised its holdings in shares of Palmer Square Capital BDC by 23.2% during the first quarter. 1248 Management LLC now owns 2,676,350 shares of the company’s stock worth $36,693,000 after purchasing an additional 503,908 shares during the period. Arlington Partners LLC raised its holdings in shares of Palmer Square Capital BDC by 38.3% during the second quarter. Arlington Partners LLC now owns 461,609 shares of the company’s stock worth $6,444,000 after purchasing an additional 127,844 shares during the period. Two Sigma Investments LP lifted its position in shares of Palmer Square Capital BDC by 142.9% in the 3rd quarter. Two Sigma Investments LP now owns 131,545 shares of the company’s stock worth $1,614,000 after buying an additional 77,393 shares during the last quarter. Finally, Caprock Group LLC acquired a new position in shares of Palmer Square Capital BDC in the 3rd quarter valued at about $918,000. 6.52% of the stock is currently owned by institutional investors.

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.