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

Sound Point Meridian Capital (NYSE:SPMC) is scheduled to be announcing its earnings results before the market opens on Wednesday, November 13th. Analysts expect the company to announce earnings of $0.65 per share for the quarter. Investors that wish to register for the company’s conference call can do so using this link.

Sound Point Meridian Capital Price Performance

NYSE SPMC opened at $20.49 on Tuesday. The firm has a 50-day moving average of $19.56. Sound Point Meridian Capital has a 1-year low of $18.20 and a 1-year high of $21.43.

Sound Point Meridian Capital Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be given a dividend of $0.24 per share. This represents a $2.88 dividend on an annualized basis and a yield of 14.06%. The ex-dividend date is Friday, February 14th.

Insider Buying and Selling at Sound Point Meridian Capital

In other Sound Point Meridian Capital news, Chairman Stephen Ketchum purchased 7,326 shares of the 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 transaction, the chairman now directly owns 7,326 shares of the company’s stock, valued at approximately $145,787.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Analysts Set New Price Targets

Separately, B. Riley started coverage on Sound Point Meridian Capital in a research report on Wednesday, October 9th. They set a “buy” rating and a $22.50 price target for the company.

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.