Sunesis Advisors LLC Buys Shares of 298,959 Palmer Square Capital BDC Inc. $PSBD

Sunesis Advisors LLC purchased a new position in shares of Palmer Square Capital BDC Inc. (NYSE:PSBD) during the third quarter, Holdings Channel.com reports. The fund purchased 298,959 shares of the company’s stock, valued at approximately $3,668,000. Palmer Square Capital BDC accounts for 1.7% of Sunesis Advisors LLC’s holdings, making the stock its 10th largest position.

Several other hedge funds have also made changes to their positions in the stock. Evolution Wealth Management Inc. acquired a new position in Palmer Square Capital BDC during the 3rd quarter valued at approximately $71,000. Gibson Capital LLC bought a new stake in Palmer Square Capital BDC in the second quarter valued at $174,000. Prime Capital Investment Advisors LLC acquired a new position in shares of Palmer Square Capital BDC during the third quarter valued at $301,000. Confluence Investment Management LLC grew its position 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 worth $316,000 after acquiring an additional 4,065 shares during the last quarter. Finally, Jane Street Group LLC bought a new position in shares of Palmer Square Capital BDC during the first quarter worth about $360,000. Institutional investors own 6.52% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on PSBD. UBS Group reduced their target price on shares of Palmer Square Capital BDC from $13.50 to $13.00 and set a “neutral” rating for the company in a research note on Wednesday, November 19th. Royal Bank Of Canada cut Palmer Square Capital BDC from a “moderate buy” rating to a “hold” rating in a report on Wednesday, November 26th. Four equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $13.00.

Palmer Square Capital BDC Stock Down 0.7%

PSBD stock opened at $11.44 on Monday. The company has a 50-day simple moving average of $12.01 and a 200 day simple moving average of $12.67. The company has a market capitalization of $360.13 million, a P/E ratio of 26.60 and a beta of 0.68. Palmer Square Capital BDC Inc. has a fifty-two week low of $11.41 and a fifty-two week high of $16.05.

Palmer Square Capital BDC Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 14th. Stockholders of record on Monday, December 29th were paid a dividend of $0.36 per share. The ex-dividend date of this dividend was Monday, December 29th. This represents a $1.44 annualized dividend and a dividend yield of 12.6%. Palmer Square Capital BDC’s dividend payout ratio (DPR) is currently 334.88%.

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.