Sound Point Meridian Capital (NYSE:SPMC - Get Free Report) posted its quarterly earnings data on Wednesday. The company reported $0.62 earnings per share for the quarter, beating analysts' consensus estimates of $0.51 by $0.11, Zacks reports.
Sound Point Meridian Capital Stock Performance
SPMC traded down $0.58 during trading on Friday, reaching $21.33. 34,660 shares of the stock traded hands, compared to its average volume of 31,022. The stock's 50-day moving average is $20.72 and its 200 day moving average is $20.10. Sound Point Meridian Capital has a 12 month low of $18.20 and a 12 month high of $22.24.
Sound Point Meridian Capital Dividend Announcement
The company also recently declared a monthly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be given 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 14.07%.
Insider Buying and Selling at Sound Point Meridian Capital
In related news, Chairman Stephen Ketchum acquired 4,000 shares of the business's stock in a transaction dated Thursday, November 21st. The shares were bought at an average price of $20.32 per share, with a total value of $81,280.00. Following the transaction, the chairman now directly owns 23,326 shares of the company's stock, valued at $473,984.32. This trade represents a 20.70 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last quarter, insiders have bought 6,000 shares of company stock valued at $121,850.
Analyst Ratings Changes
Separately, B. Riley upgraded Sound Point Meridian Capital to a "strong-buy" rating in a report on Tuesday, January 7th.
Read Our Latest Stock Report on Sound Point Meridian Capital
Sound Point Meridian Capital Company Profile
(
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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