Sound Point Meridian Capital, Inc. (NYSE:SPMC) Short Interest Update

Sound Point Meridian Capital, Inc. (NYSE:SPMC - Get Free Report) was the target of a significant increase in short interest in February. As of February 15th, there was short interest totalling 6,700 shares, an increase of 52.3% from the January 31st total of 4,400 shares. Based on an average daily trading volume, of 24,400 shares, the days-to-cover ratio is currently 0.3 days. Approximately 0.1% of the company's stock are sold short.

Analysts Set New Price Targets

Separately, B. Riley raised shares of Sound Point Meridian Capital to a "strong-buy" rating in a report on Tuesday, January 7th.

Institutional Trading of Sound Point Meridian Capital

An institutional investor recently bought a new position in Sound Point Meridian Capital stock. Marshall Wace LLP purchased a new position in shares of Sound Point Meridian Capital, Inc. (NYSE:SPMC - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 17,747 shares of the company's stock, valued at approximately $371,000. Marshall Wace LLP owned approximately 0.09% of Sound Point Meridian Capital at the end of the most recent reporting period.

Sound Point Meridian Capital Stock Performance

Shares of SPMC stock traded down $0.51 on Thursday, reaching $21.60. 38,532 shares of the stock were exchanged, compared to its average volume of 31,850. The business's 50 day moving average price is $20.86 and its 200 day moving average price is $20.25. Sound Point Meridian Capital has a twelve month low of $18.20 and a twelve month high of $22.30.

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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, topping the consensus estimate of $0.51 by $0.11.

Sound Point Meridian Capital Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be issued a dividend of $0.25 per share. The ex-dividend date is Friday, June 13th. This represents a $3.00 dividend on an annualized basis and a yield of 13.89%.

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.