Oppenheimer & Co. Inc. Buys 2,145 Shares of Sound Point Meridian Capital, Inc. (NYSE:SPMC)

Oppenheimer & Co. Inc. increased its holdings in shares of Sound Point Meridian Capital, Inc. (NYSE:SPMC) by 15.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,920 shares of the company’s stock after acquiring an additional 2,145 shares during the quarter. Oppenheimer & Co. Inc. owned approximately 0.08% of Sound Point Meridian Capital worth $333,000 as of its most recent SEC filing.

Wall Street Analyst Weigh In

Separately, B. Riley upgraded Sound Point Meridian Capital to a “strong-buy” rating in a research note on Tuesday, January 7th.

Sound Point Meridian Capital Stock Performance

Shares of SPMC opened at $21.44 on Friday. The stock’s fifty day moving average price is $20.88 and its two-hundred day moving average price is $20.27. Sound Point Meridian Capital, Inc. has a 1 year low of $18.20 and a 1 year high of $22.30.

Sound Point Meridian Capital (NYSE:SPMC) last issued its earnings results on Wednesday, February 12th. The company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.11.

Sound Point Meridian Capital Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be given a $0.25 dividend. This represents a $3.00 annualized dividend and a dividend yield of 13.99%. The ex-dividend date is Friday, June 13th.

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.