B. Riley Weighs in on Sound Point Meridian Capital, Inc.’s Q3 2024 Earnings (NYSE:SPMC)

Sound Point Meridian Capital, Inc. (NYSE:SPMC) – Research analysts at B. Riley issued their Q3 2024 earnings per share estimates for shares of Sound Point Meridian Capital in a research note issued on Tuesday, October 8th. B. Riley analyst M. Howlett forecasts that the company will post earnings of $0.65 per share for the quarter. B. Riley has a “Strong-Buy” rating on the stock. The consensus estimate for Sound Point Meridian Capital’s current full-year earnings is $1.11 per share. B. Riley also issued estimates for Sound Point Meridian Capital’s Q4 2024 earnings at $0.67 EPS, FY2024 earnings at $1.25 EPS, Q1 2025 earnings at $0.68 EPS, Q2 2025 earnings at $0.69 EPS, Q3 2025 earnings at $0.69 EPS, Q4 2025 earnings at $0.70 EPS, FY2025 earnings at $2.75 EPS, Q1 2026 earnings at $0.71 EPS, Q2 2026 earnings at $0.72 EPS, Q3 2026 earnings at $0.73 EPS and FY2026 earnings at $2.88 EPS.

Separately, Oppenheimer began coverage on shares of Sound Point Meridian Capital in a research note on Tuesday, July 9th. They set an “outperform” rating and a $21.00 price objective on the stock.

Sound Point Meridian Capital Stock Performance

NYSE:SPMC opened at $19.58 on Friday. Sound Point Meridian Capital has a one year low of $18.20 and a one year high of $20.65. The stock has a 50-day simple moving average of $19.74.

Institutional Investors Weigh In On Sound Point Meridian Capital

Hedge funds have recently modified their holdings of the stock. Frank Rimerman Advisors LLC acquired a new position in Sound Point Meridian Capital in the second quarter worth approximately $200,000. Choreo LLC acquired a new position in Sound Point Meridian Capital in the 2nd quarter valued at $827,000. Finally, Envestnet Asset Management Inc. acquired a new stake in Sound Point Meridian Capital in the 2nd quarter valued at approximately $2,860,000.

Insider Activity

In other Sound Point Meridian Capital news, Chairman Stephen Ketchum purchased 7,326 shares of Sound Point Meridian Capital stock in a transaction on Wednesday, August 28th. The stock was bought at an average price of $19.90 per share, for a total transaction of $145,787.40. Following the transaction, the chairman now owns 7,326 shares of the company’s stock, valued at $145,787.40. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Sound Point Meridian Capital Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Tuesday, October 15th will be given a $0.22 dividend. The ex-dividend date is Tuesday, October 15th. This represents a $2.64 annualized dividend and a dividend yield of 13.48%.

About Sound Point Meridian Capital

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.