Sound Point Meridian Capital, Inc. (NYSE:SPMC - Get Free Report) saw a large growth in short interest during the month of March. As of March 15th, there was short interest totalling 12,100 shares, a growth of 450.0% from the February 28th total of 2,200 shares. Approximately 0.1% of the company's stock are short sold. Based on an average daily volume of 29,900 shares, the short-interest ratio is currently 0.4 days.
Wall Street Analyst Weigh In
Separately, B. Riley raised shares of Sound Point Meridian Capital to a "strong-buy" rating in a research report on Tuesday, January 7th.
View Our Latest Stock Report on SPMC
Sound Point Meridian Capital Price Performance
Shares of NYSE:SPMC traded down $0.07 during trading on Friday, reaching $19.78. 40,355 shares of the company's stock traded hands, compared to its average volume of 26,170. The company has a 50 day moving average of $20.84 and a 200-day moving average of $20.35. Sound Point Meridian Capital has a 12 month low of $18.20 and a 12 month high of $22.30.
Sound Point Meridian Capital (NYSE:SPMC - Get Free Report) last released its quarterly earnings data 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 Announces Dividend
The firm also recently announced a monthly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 15th will be paid a dividend of $0.25 per share. This represents a $3.00 annualized dividend and a yield of 15.17%. The ex-dividend date of this dividend is Tuesday, April 15th.
Institutional Investors Weigh In On Sound Point Meridian Capital
A hedge fund recently raised its stake in Sound Point Meridian Capital stock. Oppenheimer & Co. Inc. boosted its position in Sound Point Meridian Capital, Inc. (NYSE:SPMC - Free Report) by 15.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 15,920 shares of the company's stock after purchasing an additional 2,145 shares during the period. Oppenheimer & Co. Inc. owned approximately 0.08% of Sound Point Meridian Capital worth $333,000 as of its most recent SEC filing.
About Sound Point Meridian Capital
(
Get 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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