Sound Point Meridian Capital, Inc. (NYSE:SPMC) Declares Monthly Dividend of $0.13

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) dividend on an annualized basis and a dividend yield of 15.9%. The ex-dividend date of this dividend is Thursday, October 15th.

Sound Point Meridian Capital Trading Down 8.6%

Shares of Sound Point Meridian Capital stock opened at $9.84 on Thursday. The firm has a market cap of $201.72 million, a P/E ratio of -1.60 and a beta of 1.15. Sound Point Meridian Capital has a 12 month low of $8.36 and a 12 month high of $18.54. The stock’s fifty day moving average price is $10.39 and its 200-day moving average price is $10.57.

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

Hedge Funds Weigh In On Sound Point Meridian Capital

A number of large investors have recently made changes to their positions in the business. Thomas J. Herzfeld Advisors Inc. acquired a new position in Sound Point Meridian Capital during the 4th quarter valued at about $189,000. Citadel Advisors LLC purchased a new stake in shares of Sound Point Meridian Capital during the third quarter worth about $267,000. Virtus Investment Advisers LLC increased its holdings in shares of 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 acquiring an additional 2,061 shares in the last quarter. Marshall Wace LLP increased its holdings in shares of Sound Point Meridian Capital by 35.4% during the second quarter. Marshall Wace LLP now owns 77,152 shares of the company’s stock valued at $1,379,000 after acquiring an additional 20,163 shares in the last quarter. Finally, Everest Management Corp. raised its position 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.

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.