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

Sound Point Meridian Capital, Inc. (NYSE:SPMC) announced a monthly dividend on Wednesday, November 5th. Shareholders of record on Thursday, January 15th will be paid a dividend of 0.25 per share on Friday, January 30th. This represents a c) annualized dividend and a yield of 18.3%. The ex-dividend date of this dividend is Thursday, January 15th.

Sound Point Meridian Capital Price Performance

Shares of Sound Point Meridian Capital stock opened at $16.38 on Friday. The stock has a market cap of $335.36 million, a price-to-earnings ratio of 11.54 and a beta of 0.20. Sound Point Meridian Capital has a 1 year low of $15.01 and a 1 year high of $22.30. The firm’s 50-day moving average is $17.24 and its 200 day moving average is $17.86.

Sound Point Meridian Capital (NYSE:SPMC) last issued its quarterly earnings data on Tuesday, August 12th. The company reported $0.53 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.03). The company had revenue of $19.21 million during the quarter, compared to the consensus estimate of $20.72 million.

Insider Buying and Selling

In related news, major shareholder Guaranty Ltd Assured sold 6,258 shares of the firm’s stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $16.90, for a total transaction of $105,760.20. Following the completion of the transaction, the insider directly owned 5,282,994 shares of the company’s stock, valued at approximately $89,282,598.60. This trade represents a 0.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Stephen Ketchum acquired 5,000 shares of the company’s stock in a transaction on Monday, October 20th. The shares were bought at an average cost of $15.61 per share, with a total value of $78,050.00. Following the acquisition, the chairman directly owned 92,090 shares in the company, valued at approximately $1,437,524.90. The trade was a 5.74% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders purchased 28,000 shares of company stock worth $434,270 and sold 16,827 shares worth $289,251.

Institutional Trading of Sound Point Meridian Capital

Several hedge funds have recently modified their holdings of the company. Everest Management Corp. grew its holdings in shares of Sound Point Meridian Capital by 3.7% in the third 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 in the last quarter. Envestnet Asset Management Inc. raised its position in shares of Sound Point Meridian Capital by 8.6% during the 1st quarter. Envestnet Asset Management Inc. now owns 145,851 shares of the company’s stock valued at $2,908,000 after buying an additional 11,602 shares in the last quarter. Marshall Wace LLP lifted its stake in shares of 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 purchasing an additional 20,163 shares during the last quarter. Finally, Kim LLC purchased a new position in Sound Point Meridian Capital during the second quarter worth $192,821,000.

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.