Free Trial

Sound Point Meridian Capital, Inc. (NYSE:SPMC) Short Interest Up 105.0% in April

Sound Point Meridian Capital logo with Finance background

Sound Point Meridian Capital, Inc. (NYSE:SPMC - Get Free Report) saw a significant growth in short interest in the month of April. As of April 15th, there was short interest totalling 8,200 shares, a growth of 105.0% from the March 31st total of 4,000 shares. Approximately 0.0% of the company's stock are short sold. Based on an average daily volume of 36,200 shares, the short-interest ratio is currently 0.2 days.

Sound Point Meridian Capital Stock Performance

Shares of SPMC traded up $0.38 during trading on Friday, reaching $19.15. The company's stock had a trading volume of 16,769 shares, compared to its average volume of 26,512. The company has a fifty day moving average of $19.64 and a two-hundred day moving average of $20.14. Sound Point Meridian Capital has a twelve month low of $16.26 and a twelve month high of $22.30.

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

Sound Point Meridian Capital Dividend Announcement

The business also recently declared a monthly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 15th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, April 15th. This represents a $3.00 annualized dividend and a dividend yield of 15.67%.

Analysts Set New Price Targets

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

Check Out Our Latest Stock Report on SPMC

Hedge Funds Weigh In On Sound Point Meridian Capital

Hedge funds have recently bought and sold shares of the company. Oppenheimer & Co. Inc. grew its position in shares of Sound Point Meridian Capital by 15.6% in the 4th quarter. Oppenheimer & Co. Inc. now owns 15,920 shares of the company's stock worth $333,000 after acquiring an additional 2,145 shares in the last quarter. Marshall Wace LLP bought a new position in Sound Point Meridian Capital during the fourth quarter worth $371,000. Finally, Envestnet Asset Management Inc. boosted its holdings in Sound Point Meridian Capital by 8.6% in the first quarter. Envestnet Asset Management Inc. now owns 145,851 shares of the company's stock worth $2,908,000 after purchasing an additional 11,602 shares during the period.

Sound Point Meridian Capital Company Profile

(Get Free Report)

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.

See Also

Should You Invest $1,000 in Sound Point Meridian Capital Right Now?

Before you consider Sound Point Meridian Capital, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Sound Point Meridian Capital wasn't on the list.

While Sound Point Meridian Capital currently has a Strong Buy rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

20 High-Yield Dividend Stocks that Could Ruin Your Retirement Cover

Almost everyone loves strong dividend-paying stocks, but high yields can signal danger. Discover 20 high-yield dividend stocks paying an unsustainably large percentage of their earnings. Enter your email to get this report and avoid a high-yield dividend trap.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

The Hottest AI Stock You Haven’t Bought Yet
This $13 Trillion Energy Breakthrough Will Make Millionaires
Magnificent 7 Stocks Shift Toward Stability and Selective Growth

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines