Palmer Square Capital BDC (NYSE:PSBD) Stock Rating Reaffirmed by Royal Bank of Canada

Palmer Square Capital BDC (NYSE:PSBD)‘s stock had its “outperform” rating restated by equities researchers at Royal Bank of Canada in a research report issued on Tuesday, Benzinga reports. They presently have a $17.00 price target on the stock. Royal Bank of Canada’s price target points to a potential upside of 3.47% from the company’s current price.

Separately, Janney Montgomery Scott began coverage on Palmer Square Capital BDC in a research note on Monday, April 22nd. They set a “neutral” rating and a $17.50 price target on the stock. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $16.93.

Palmer Square Capital BDC Price Performance

NYSE PSBD traded up $0.12 during midday trading on Tuesday, hitting $16.43. The company had a trading volume of 1,632 shares, compared to its average volume of 54,283. The firm has a 50-day moving average price of $16.41 and a 200-day moving average price of $16.39. Palmer Square Capital BDC has a twelve month low of $15.27 and a twelve month high of $17.12.

Hedge Funds Weigh In On Palmer Square Capital BDC

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Apollo Management Holdings L.P. bought a new stake in Palmer Square Capital BDC in the first quarter worth approximately $9,713,000. Confluence Investment Management LLC increased its holdings in Palmer Square Capital BDC by 70.5% in the second quarter. Confluence Investment Management LLC now owns 85,240 shares of the company’s stock worth $1,377,000 after purchasing an additional 35,240 shares in the last quarter. Capstone Investment Advisors LLC bought a new stake in Palmer Square Capital BDC in the first quarter worth approximately $1,032,000. Marble Harbor Investment Counsel LLC bought a new stake in Palmer Square Capital BDC in the second quarter worth approximately $315,000. Finally, Renaissance Technologies LLC bought a new stake in Palmer Square Capital BDC in the second quarter worth approximately $173,000. 6.52% of the stock is owned by institutional investors and hedge funds.

About Palmer Square Capital BDC

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.