Insider Buying: Sound Point Meridian Capital, Inc. (NYSE:SPMC) Director Buys 1,000 Shares of Stock

by · The Cerbat Gem

Sound Point Meridian Capital, Inc. (NYSE:SPMC – Get Free Report) Director Matthew E. Forstenhausler bought 1,000 shares of the business’s stock in a transaction dated Thursday, November 21st. The shares were bought at an average cost of $20.25 per share, for a total transaction of $20,250.00. Following the transaction, the director now owns 1,000 shares in the company, valued at approximately $20,250. The trade was a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Sound Point Meridian Capital Stock Down 0.5 %

Shares of NYSE SPMC opened at $20.43 on Tuesday. Sound Point Meridian Capital, Inc. has a 1 year low of $18.20 and a 1 year high of $21.43. The stock has a 50-day moving average price of $19.64.

Sound Point Meridian Capital Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a dividend of $0.24 per share. This represents a $2.88 dividend on an annualized basis and a yield of 14.10%. The ex-dividend date is Friday, March 14th.

Wall Street Analysts Forecast Growth

Separately, B. Riley assumed coverage on shares of Sound Point Meridian Capital in a research report on Wednesday, October 9th. They set a “buy” rating and a $22.50 price objective on the stock.

Read Our Latest Stock Report on Sound Point Meridian Capital

Hedge Funds Weigh In On Sound Point Meridian Capital

Hedge funds have recently bought and sold shares of the business. Frank Rimerman Advisors LLC bought a new stake in shares of Sound Point Meridian Capital during the second quarter worth $200,000. Oppenheimer & Co. Inc. bought a new stake in Sound Point Meridian Capital during the 3rd quarter valued at about $272,000. Choreo LLC purchased a new stake in Sound Point Meridian Capital in the 2nd quarter valued at about $827,000. Finally, Envestnet Asset Management Inc. bought a new position in Sound Point Meridian Capital in the 2nd quarter worth about $2,860,000.

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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