Bienville Capital Management LLC Purchases 258,643 Shares of Palmer Square Capital BDC Inc. (NYSE:PSBD)

Bienville Capital Management LLC grew its position in Palmer Square Capital BDC Inc. (NYSE:PSBD) by 61.9% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 676,406 shares of the company’s stock after acquiring an additional 258,643 shares during the period. Palmer Square Capital BDC accounts for approximately 2.6% of Bienville Capital Management LLC’s investment portfolio, making the stock its 13th biggest position. Bienville Capital Management LLC’s holdings in Palmer Square Capital BDC were worth $10,606,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Wells Fargo & Company MN raised its position in Palmer Square Capital BDC by 271.5% during the 4th quarter. Wells Fargo & Company MN now owns 7,501 shares of the company’s stock worth $114,000 after purchasing an additional 5,482 shares during the last quarter. Marble Harbor Investment Counsel LLC increased its stake in shares of Palmer Square Capital BDC by 24.3% in the fourth quarter. Marble Harbor Investment Counsel LLC now owns 31,950 shares of the company’s stock valued at $486,000 after buying an additional 6,250 shares during the period. Franklin Resources Inc. raised its position in shares of Palmer Square Capital BDC by 72.0% during the fourth quarter. Franklin Resources Inc. now owns 57,866 shares of the company’s stock worth $880,000 after acquiring an additional 24,232 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Palmer Square Capital BDC by 120.3% in the fourth quarter. Bank of New York Mellon Corp now owns 77,878 shares of the company’s stock worth $1,184,000 after acquiring an additional 42,533 shares during the period. Finally, Hennion & Walsh Asset Management Inc. lifted its stake in shares of Palmer Square Capital BDC by 73.0% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 83,997 shares of the company’s stock worth $1,277,000 after acquiring an additional 35,437 shares during the period. 6.52% of the stock is currently owned by institutional investors.

Palmer Square Capital BDC Stock Performance

Shares of PSBD opened at $13.05 on Friday. Palmer Square Capital BDC Inc. has a 52-week low of $11.89 and a 52-week high of $16.85. The business’s 50 day moving average price is $13.89 and its two-hundred day moving average price is $15.13. The firm has a market cap of $425.55 million, a PE ratio of 6.80 and a beta of 0.60.

Palmer Square Capital BDC Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 10th. Shareholders of record on Friday, March 28th were paid a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 11.04%. The ex-dividend date of this dividend was Friday, March 28th. Palmer Square Capital BDC’s dividend payout ratio (DPR) is presently 97.30%.

Insider Buying and Selling at Palmer Square Capital BDC

In other news, President Matthew L. Bloomfield bought 4,200 shares of the stock in a transaction dated Tuesday, March 4th. The shares were bought at an average cost of $15.38 per share, with a total value of $64,596.00. Following the completion of the transaction, the president now directly owns 32,478 shares of the company’s stock, valued at $499,511.64. This trade represents a 14.85 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on PSBD. JPMorgan Chase & Co. cut their price objective on Palmer Square Capital BDC from $16.00 to $13.50 and set an “overweight” rating on the stock in a research note on Thursday, April 24th. UBS Group cut their price objective on Palmer Square Capital BDC from $16.50 to $14.00 and set a “neutral” rating on the stock in a research note on Thursday, April 17th.

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.