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Palmer Square Capital BDC Inc. (NYSE:PSBD) disclosed today that as of July 31, 2024, the company's unaudited net asset value (NAV) per share was $16.89. This figure was released as part of a current report filed with the Securities and Exchange Commission (SEC).
The Kansas-based business development company, which operates under the jurisdiction of Maryland, has its common stock listed on the New York Stock Exchange under the ticker PSBD. As an emerging growth company, Palmer Square Capital focuses on providing investors with access to private debt and equity investments.
The announcement of the NAV, a key performance metric for companies like Palmer Square Capital, provides investors with an update on the value of their shares. The NAV per share is calculated by dividing the net asset value of the company by the number of outstanding shares.
This financial update is based solely on the press release statement filed with the SEC.
InvestingPro Insights
Palmer Square Capital BDC Inc. (NYSE:PSBD) has recently disclosed its NAV per share, offering investors a snapshot of the company's value. To complement this data, InvestingPro provides additional insights that could be instrumental in evaluating the company's performance. With a market capitalization of approximately $532.24 million, Palmer Square Capital stands as a significant entity in the business development space. Notably, the company pays a considerable dividend, as reflected by a dividend yield of 10.28%, which is attractive to income-focused investors. Moreover, the stock's low price volatility could appeal to those seeking stability in their investment portfolio.
However, it's important to consider the challenges faced by the company. InvestingPro Tips highlight that Palmer Square Capital suffers from weak gross profit margins and a valuation that implies a poor free cash flow yield. These factors could impact the company's financial health and should be weighed against its strengths. For those interested in further analysis, InvestingPro offers additional tips on Palmer Square Capital, which can be found at https://www.investing.com/pro/PSBD.
For a more comprehensive understanding of the company's recent performance, the price of Palmer Square Capital's shares is currently at 95.5% of its 52-week high, and the stock closed at $16.35 recently. Additionally, the company has seen a year-to-date price total return of 7.15%, demonstrating growth in the current fiscal year. With the next earnings date scheduled for November 8, 2024, investors will be keen to see how these factors play into the company's financial results and future outlook.
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