Sound Point Meridian Capital (SPMC) to Release Quarterly Earnings on Wednesday

Sound Point Meridian Capital (NYSE:SPMC - Get Free Report) is expected to be releasing its earnings data before the market opens on Wednesday, February 12th. Analysts expect Sound Point Meridian Capital to post earnings of $0.51 per share for the quarter. Persons interested in listening to the company's earnings conference call can do so using this link.

Sound Point Meridian Capital Trading Down 0.1 %

Shares of NYSE SPMC traded down $0.02 during mid-day trading on Friday, hitting $20.91. 35,159 shares of the stock traded hands, compared to its average volume of 31,022. The stock has a fifty day moving average price of $20.64 and a 200-day moving average price of $20.04. Sound Point Meridian Capital has a 52 week low of $18.20 and a 52 week high of $21.97.

Sound Point Meridian Capital Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be issued a $0.25 dividend. This represents a $3.00 annualized dividend and a yield of 14.35%. The ex-dividend date is Friday, June 13th.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Sound Point Meridian Capital

In other news, Chairman Stephen Ketchum acquired 4,000 shares of Sound Point Meridian Capital stock in a transaction that occurred on Thursday, November 21st. The stock was bought at an average price of $20.32 per share, for a total transaction of $81,280.00. Following the completion of the transaction, the chairman now owns 23,326 shares in the company, valued at $473,984.32. The trade was a 20.70 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders acquired 6,000 shares of company stock worth $121,850 over 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.