Sound Point Meridian Capital (SPMC) to Release Quarterly Earnings on Wednesday

Sound Point Meridian Capital (NYSE:SPMC) is anticipated to release its results before the market opens on Wednesday, February 11th. Analysts expect Sound Point Meridian Capital to post earnings of $0.53 per share and revenue of $20.4530 million for the quarter.

Sound Point Meridian Capital (NYSE:SPMC) last posted its earnings results on Thursday, November 13th. The company reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.02). The business had revenue of $20.23 million during the quarter, compared to the consensus estimate of $20.45 million.

Sound Point Meridian Capital Stock Up 0.5%

Shares of Sound Point Meridian Capital stock opened at $13.38 on Tuesday. The firm has a market cap of $274.29 million, a PE ratio of 66.90 and a beta of 0.32. Sound Point Meridian Capital has a 52 week low of $13.05 and a 52 week high of $22.30. The business’s fifty day simple moving average is $13.91 and its 200-day simple moving average is $16.01.

Insider Activity at Sound Point Meridian Capital

In other Sound Point Meridian Capital news, Director Matthew E. Forstenhausler purchased 4,118 shares of the company’s stock in a transaction on Thursday, December 18th. The stock was acquired at an average price of $13.60 per share, for a total transaction of $56,004.80. Following the completion of the purchase, the director directly owned 6,318 shares in the company, valued at approximately $85,924.80. The trade was a 187.18% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Guaranty Ltd Assured sold 4,562 shares of the stock in a transaction on Tuesday, January 27th. The shares were sold at an average price of $14.31, for a total value of $65,282.22. Following the completion of the sale, the insider owned 5,269,690 shares in the company, valued at approximately $75,409,263.90. The trade was a 0.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders acquired 8,480 shares of company stock valued at $115,727 and sold 10,803 shares valued at $156,663. Company insiders own 0.89% of the company’s stock.

Institutional Investors Weigh In On Sound Point Meridian Capital

A number of hedge funds have recently bought and sold shares of SPMC. Citadel Advisors LLC acquired a new position in shares of Sound Point Meridian Capital during the third quarter worth about $267,000. Marshall Wace LLP grew its holdings in Sound Point Meridian Capital by 35.4% during the 2nd quarter. Marshall Wace LLP now owns 77,152 shares of the company’s stock worth $1,379,000 after acquiring an additional 20,163 shares in the last quarter. Finally, Kim LLC acquired a new position in Sound Point Meridian Capital during the 2nd quarter worth approximately $192,821,000.

Analyst Ratings Changes

SPMC has been the topic of a number of recent analyst reports. Zacks Research raised shares of Sound Point Meridian Capital from a “strong sell” rating to a “hold” rating in a research report on Friday, January 30th. Oppenheimer set a $20.00 price target on shares of Sound Point Meridian Capital in a research note on Monday, December 1st. iA Financial set a $18.50 price objective on shares of Sound Point Meridian Capital in a report on Thursday, November 13th. Finally, B. Riley Financial dropped their target price on shares of Sound Point Meridian Capital from $23.00 to $16.00 and set a “buy” rating for the company in a report on Thursday, November 20th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $18.90.

Sound Point Meridian Capital Company Profile

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. Sound Point Meridian Capital Inc is based in NEW YORK.