Sound Point Meridian Capital, Inc. (SPMC) To Go Ex-Dividend on October 15th

Sound Point Meridian Capital, Inc. (NYSE:SPMC) declared a monthly dividend on Wednesday, August 12th. Stockholders of record on Thursday, October 15th will be given a dividend of 0.13 per share on Friday, October 30th. This represents a c) annualized dividend and a dividend yield of 15.3%. The ex-dividend date of this dividend is Thursday, October 15th.

Sound Point Meridian Capital Trading Up 3.7%

NYSE:SPMC opened at $10.19 on Friday. The company has a market cap of $208.87 million, a P/E ratio of -1.76 and a beta of 1.15. Sound Point Meridian Capital has a twelve month low of $8.36 and a twelve month high of $18.54. The company’s 50-day moving average price is $10.36 and its 200-day moving average price is $10.54.

Sound Point Meridian Capital (NYSE:SPMC) last released its quarterly earnings data on Wednesday, August 12th. The company reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.06). The business had revenue of $12.42 million for the quarter, compared to the consensus estimate of $14.18 million. On average, analysts expect that Sound Point Meridian Capital will post 1.22 earnings per share for the current year.

Institutional Trading of Sound Point Meridian Capital

Several institutional investors have recently made changes to their positions in SPMC. Virtus Investment Advisers LLC lifted its holdings in Sound Point Meridian Capital by 7.5% in the fourth quarter. Virtus Investment Advisers LLC now owns 29,620 shares of the company’s stock valued at $407,000 after acquiring an additional 2,061 shares during the last quarter. Everest Management Corp. lifted its stake in shares of Sound Point Meridian Capital by 5.6% in the 4th quarter. Everest Management Corp. now owns 79,798 shares of the company’s stock valued at $1,097,000 after purchasing an additional 4,243 shares during the last quarter. Thomas J. Herzfeld Advisors Inc. acquired a new stake in shares of Sound Point Meridian Capital during the 4th quarter worth about $189,000. Citadel Advisors LLC purchased a new stake in Sound Point Meridian Capital in the 3rd quarter valued at about $267,000. Finally, Marshall Wace LLP raised its holdings in Sound Point Meridian Capital by 35.4% in the 2nd quarter. Marshall Wace LLP now owns 77,152 shares of the company’s stock valued at $1,379,000 after buying an additional 20,163 shares during the period.

Sound Point Meridian Capital Company Profile

Sound Point Meridian Capital Inc is an externally managed, non-diversified closed-end management investment company. Its investment objective is to generate high current income, with a secondary objective to generate capital appreciation, by investing primarily in third-party collateralized loan obligation equity and mezzanine tranches. Sound Point Meridian Capital Inc is based in NEW YORK.