Envestnet Asset Management Inc. lowered its position in Sound Point Meridian Capital, Inc. (NYSE:SPMC - Free Report) by 13.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 134,249 shares of the company's stock after selling 20,161 shares during the period. Envestnet Asset Management Inc. owned about 0.66% of Sound Point Meridian Capital worth $2,806,000 as of its most recent filing with the Securities & Exchange Commission.
Separately, Oppenheimer & Co. Inc. lifted its position in Sound Point Meridian Capital by 15.6% in the fourth quarter. Oppenheimer & Co. Inc. now owns 15,920 shares of the company's stock valued at $333,000 after purchasing an additional 2,145 shares during the period.
Sound Point Meridian Capital Price Performance
Shares of SPMC stock traded up $0.28 during midday trading on Monday, reaching $18.98. 14,405 shares of the company traded hands, compared to its average volume of 26,643. The firm's 50 day simple moving average is $19.89 and its two-hundred day simple moving average is $20.17. Sound Point Meridian Capital, Inc. has a 1-year low of $16.26 and a 1-year high of $22.30.
Sound Point Meridian Capital (NYSE:SPMC - Get Free Report) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $0.62 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.51 by $0.11.
Sound Point Meridian Capital Dividend Announcement
The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 15th will be paid a dividend of $0.25 per share. The ex-dividend date is Tuesday, April 15th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 15.81%.
Wall Street Analysts Forecast Growth
Separately, B. Riley upgraded shares of Sound Point Meridian Capital to a "strong-buy" rating in a research report on Tuesday, January 7th.
View Our Latest Research Report on SPMC
About Sound Point Meridian Capital
(
Free Report)
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.
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