Alliance Global Partners initiated coverage on shares of Sound Point Meridian Capital (NYSE:SPMC - Get Free Report) in a note issued to investors on Friday,Benzinga reports. The firm set a "buy" rating and a $20.00 price target on the stock. Alliance Global Partners' price target points to a potential upside of 8.46% from the stock's previous close.
Sound Point Meridian Capital Trading Up 3.4%
Shares of Sound Point Meridian Capital stock opened at $18.44 on Friday. Sound Point Meridian Capital has a one year low of $16.26 and a one year high of $22.30. The business's 50 day moving average price is $18.07 and its 200 day moving average price is $19.44.
Sound Point Meridian Capital (NYSE:SPMC - Get Free Report) last posted its quarterly earnings data on Thursday, May 29th. The company reported $0.66 EPS for the quarter, beating the consensus estimate of $0.60 by $0.06. The company had revenue of $22.66 million for the quarter, compared to analysts' expectations of $20.48 million.
Institutional Inflows and Outflows
A hedge fund recently bought a new stake in Sound Point Meridian Capital stock. Marshall Wace LLP acquired a new position in shares of Sound Point Meridian Capital, Inc. (NYSE:SPMC - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 17,747 shares of the company's stock, valued at approximately $371,000. Marshall Wace LLP owned approximately 0.09% of Sound Point Meridian Capital as of its most recent SEC filing.
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.
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