Choreo LLC Sells 18,473 Shares of Sound Point Meridian Capital, Inc. (NYSE:SPMC)

Choreo LLC cut its holdings in shares of Sound Point Meridian Capital, Inc. (NYSE:SPMC - Free Report) by 44.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 23,396 shares of the company's stock after selling 18,473 shares during the period. Choreo LLC owned 0.12% of Sound Point Meridian Capital worth $467,000 as of its most recent filing with the Securities and Exchange Commission.

Separately, Envestnet Asset Management Inc. raised its position in shares of Sound Point Meridian Capital by 8.6% in the 1st quarter. Envestnet Asset Management Inc. now owns 145,851 shares of the company's stock valued at $2,908,000 after acquiring an additional 11,602 shares during the period.

Analysts Set New Price Targets

Separately, Alliance Global Partners assumed coverage on shares of Sound Point Meridian Capital in a research report on Friday, July 18th. They issued a "buy" rating and a $20.00 price target on the stock.

Sound Point Meridian Capital Trading Down 0.5%

SPMC stock traded down $0.09 during midday trading on Friday, reaching $18.14. 5,504 shares of the company were exchanged, compared to its average volume of 28,658. The business has a 50-day moving average price of $17.92 and a two-hundred day moving average price of $19.24. Sound Point Meridian Capital, Inc. has a one year low of $16.26 and a one year high of $22.30.

Sound Point Meridian Capital (NYSE:SPMC - Get Free Report) last posted its earnings results on Thursday, May 29th. The company reported $0.66 earnings per share for the quarter, topping analysts' consensus estimates of $0.60 by $0.06. The firm had revenue of $22.66 million for the quarter, compared to analyst estimates of $20.48 million.

Sound Point Meridian Capital Announces Dividend

The business also recently declared a dividend, which was paid on Thursday, July 31st. Investors of record on Wednesday, July 16th were paid a $0.25 dividend. This represents a yield of 1,681.0%. The ex-dividend date of this dividend was Tuesday, July 15th.

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.