Sound Point Meridian Capital, Inc. (NYSE:SPMC - Get Free Report)'s stock price shot up 0.1% on Wednesday . The company traded as high as $17.47 and last traded at $17.39. 5,973 shares changed hands during trading, a decline of 75% from the average session volume of 23,661 shares. The stock had previously closed at $17.37.
Sound Point Meridian Capital Stock Performance
The business's 50 day simple moving average is $18.34 and its two-hundred day simple moving average is $19.68.
Sound Point Meridian Capital (NYSE:SPMC - Get Free Report) last released its quarterly earnings data on Thursday, May 29th. The company reported $0.66 earnings per share for the quarter, beating analysts' consensus estimates of $0.60 by $0.06. The firm had revenue of $22.66 million for the quarter, compared to the consensus estimate of $20.48 million.
Sound Point Meridian Capital Announces Dividend
The company also recently disclosed a monthly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $3.00 dividend on an annualized basis and a yield of 16.70%.
Institutional Trading of Sound Point Meridian Capital
Large investors have recently made changes to their positions in the stock. Oppenheimer & Co. Inc. grew its stake 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 worth $333,000 after acquiring an additional 2,145 shares during the period. Marshall Wace LLP bought a new stake in shares of Sound Point Meridian Capital in the fourth quarter worth approximately $371,000. Finally, Envestnet Asset Management Inc. grew its stake in shares of 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 acquiring 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.
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