Sound Point Meridian Capital (NYSE:SPMC – Get Free Report) was upgraded by stock analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Tuesday,Zacks.com reports.
Separately, Alliance Global Partners restated a “buy” rating on shares of Sound Point Meridian Capital in a report on Wednesday, May 27th. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $15.12.
Check Out Our Latest Research Report on Sound Point Meridian Capital
Sound Point Meridian Capital Stock Down 0.0%
Sound Point Meridian Capital (NYSE:SPMC – Get Free Report) last released its earnings results on Thursday, May 28th. The company reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.07). The business had revenue of $12.57 million for the quarter, compared to the consensus estimate of $17.20 million. Sell-side analysts predict that Sound Point Meridian Capital will post 1.22 earnings per share for the current fiscal year.
Institutional Trading of Sound Point Meridian Capital
A number of hedge funds have recently modified their holdings of the company. Allied Private Wealth LLC bought a new position in Sound Point Meridian Capital during the 2nd quarter worth approximately $984,000. Virtus Investment Advisers LLC grew its holdings in Sound Point Meridian Capital by 7.5% during the fourth quarter. Virtus Investment Advisers LLC now owns 29,620 shares of the company’s stock valued at $407,000 after purchasing an additional 2,061 shares during the period. Thomas J. Herzfeld Advisors Inc. bought a new stake in Sound Point Meridian Capital in the fourth quarter valued at approximately $189,000. Everest Management Corp. increased its stake in Sound Point Meridian Capital by 5.6% in the fourth 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 in the last quarter. Finally, Citadel Advisors LLC acquired a new stake in Sound Point Meridian Capital in the third quarter worth $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. Sound Point Meridian Capital Inc is based in NEW YORK.
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