Research Analysts Issue Forecasts for SPMC Q4 Earnings

Sound Point Meridian Capital, Inc. (NYSE:SPMC) – Stock analysts at B. Riley issued their Q4 2027 earnings per share (EPS) estimates for Sound Point Meridian Capital in a research note issued on Thursday, November 20th. B. Riley analyst T. D’agostino anticipates that the company will earn $0.58 per share for the quarter. B. Riley has a “Buy” rating and a $16.00 price target on the stock.

A number of other research analysts also recently commented on the stock. Industrial Alliance Securities set a $18.50 price target on shares of Sound Point Meridian Capital in a report on Thursday, November 13th. Zacks Research raised shares of Sound Point Meridian Capital from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 26th. Finally, Compass Point set a $20.00 target price on Sound Point Meridian Capital in a research report on Tuesday, September 30th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, Sound Point Meridian Capital currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.63.

Sound Point Meridian Capital Price Performance

SPMC stock opened at $14.71 on Friday. Sound Point Meridian Capital has a 1-year low of $14.54 and a 1-year high of $22.30. The business has a 50-day moving average price of $16.77 and a 200 day moving average price of $17.63. The company has a market capitalization of $301.01 million, a P/E ratio of 73.53 and a beta of 0.20.

Sound Point Meridian Capital (NYSE:SPMC) last issued its earnings results on Thursday, November 13th. The company reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.02). The business had revenue of $20.23 million during the quarter, compared to analyst estimates of $20.45 million.

Sound Point Meridian Capital Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 16th will be paid a dividend of $0.25 per share. This represents a c) annualized dividend and a yield of 20.4%. The ex-dividend date is Monday, March 16th. Sound Point Meridian Capital’s payout ratio is 1,500.00%.

Insider Activity at Sound Point Meridian Capital

In other Sound Point Meridian Capital news, Chairman Stephen Ketchum purchased 5,000 shares of the firm’s stock in a transaction on Monday, October 20th. The stock was bought at an average cost of $15.61 per share, for a total transaction of $78,050.00. Following the completion of the purchase, the chairman owned 92,090 shares in the company, valued at $1,437,524.90. This represents a 5.74% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ujjaval Desai purchased 12,000 shares of the stock in a transaction on Monday, October 20th. The stock was acquired at an average cost of $15.36 per share, with a total value of $184,320.00. Following the acquisition, the chief executive officer owned 70,579 shares of the company’s stock, valued at approximately $1,084,093.44. This represents a 20.49% increase in their position. The SEC filing for this purchase provides additional information. In the last ninety days, insiders have acquired 28,000 shares of company stock valued at $434,270 and have sold 16,929 shares valued at $290,924.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Kim LLC purchased a new position in shares of Sound Point Meridian Capital in the second quarter worth $192,821,000. Envestnet Asset Management Inc. raised its stake in Sound Point Meridian Capital by 8.6% in the 1st quarter. Envestnet Asset Management Inc. now owns 145,851 shares of the company’s stock worth $2,908,000 after acquiring an additional 11,602 shares during the last quarter. Marshall Wace LLP lifted its position in Sound Point Meridian Capital by 35.4% during the 2nd quarter. Marshall Wace LLP now owns 77,152 shares of the company’s stock worth $1,379,000 after acquiring an additional 20,163 shares during the period. Everest Management Corp. grew its stake in Sound Point Meridian Capital by 3.7% during the 3rd quarter. Everest Management Corp. now owns 75,555 shares of the company’s stock valued at $1,311,000 after purchasing an additional 2,697 shares during the last quarter. Finally, Citadel Advisors LLC purchased a new stake in Sound Point Meridian Capital during the 3rd quarter valued at about $267,000.

About Sound Point Meridian Capital

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.