Choreo LLC acquired a new stake in shares of Sound Point Meridian Capital, Inc. (NYSE:SPMC – Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 41,234 shares of the company’s stock, valued at approximately $827,000.
Analysts Set New Price Targets
Separately, Oppenheimer began coverage on Sound Point Meridian Capital in a research report on Tuesday, July 9th. They issued an “outperform” rating and a $21.00 target price on the stock.
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Sound Point Meridian Capital Stock Up 0.7 %
Sound Point Meridian Capital Announces Dividend
The company also recently disclosed a monthly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be given a dividend of $0.22 per share. This represents a $2.64 dividend on an annualized basis and a yield of 13.04%. The ex-dividend date is Monday, December 16th.
Insider Activity
In other news, Chairman Stephen Ketchum acquired 7,326 shares of the firm’s stock in a transaction on Wednesday, August 28th. The stock was acquired at an average price of $19.90 per share, with a total value of $145,787.40. Following the completion of the purchase, the chairman now directly owns 7,326 shares in the company, valued at $145,787.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
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.
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