Envestnet Asset Management Inc. Decreases Stock Position in Sound Point Meridian Capital, Inc. (NYSE:SPMC)

Envestnet Asset Management Inc. decreased its holdings in Sound Point Meridian Capital, Inc. (NYSE:SPMC - Free Report) by 13.1% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 134,249 shares of the company's stock after selling 20,161 shares during the period. Envestnet Asset Management Inc. owned about 0.66% of Sound Point Meridian Capital worth $2,806,000 at the end of the most recent quarter.

Separately, Oppenheimer & Co. Inc. raised its position in shares of Sound Point Meridian Capital by 15.6% in the fourth quarter. Oppenheimer & Co. Inc. now owns 15,920 shares of the company's stock valued at $333,000 after buying an additional 2,145 shares in the last quarter.

Sound Point Meridian Capital Trading Down 0.3 %

Shares of NYSE:SPMC traded down $0.06 during trading on Thursday, reaching $18.92. The stock had a trading volume of 2,598 shares, compared to its average volume of 31,961. Sound Point Meridian Capital, Inc. has a 52 week low of $16.26 and a 52 week high of $22.30. The firm's fifty day moving average is $19.72 and its 200 day moving average is $20.15.

Sound Point Meridian Capital (NYSE:SPMC - Get Free Report) last released its earnings results on Wednesday, February 12th. The company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.51 by $0.11.

Sound Point Meridian Capital Dividend Announcement

The business also recently announced a monthly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 15th were given a dividend of $0.25 per share. The ex-dividend date was Tuesday, April 15th. This represents a $3.00 annualized dividend and a dividend yield of 15.86%.

Analysts Set New Price Targets

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

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.