Sound Point Meridian Capital (SPMC) Expected to Announce Earnings on Wednesday

Sound Point Meridian Capital (NYSE:SPMC) is anticipated to release 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. Investors that are interested in participating in the company’s conference call can do so using this link.

Sound Point Meridian Capital Stock Performance

Shares of NYSE:SPMC opened at $20.81 on Tuesday. The firm has a fifty day moving average price of $20.64 and a 200 day moving average price of $20.05. Sound Point Meridian Capital has a fifty-two week low of $18.20 and a fifty-two week high of $21.97.

Sound Point Meridian Capital Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $3.00 annualized dividend and a dividend yield of 14.42%.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other Sound Point Meridian Capital news, Chairman Stephen Ketchum acquired 4,000 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were purchased at an average cost of $20.32 per share, for a total transaction of $81,280.00. Following the completion of the purchase, the chairman now owns 23,326 shares in the company, valued at approximately $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 this link. Insiders have bought 6,000 shares of company stock worth $121,850 in the last ninety days.

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.