Guaranty Ltd Assured Sells 4,562 Shares of Sound Point Meridian Capital (NYSE:SPMC) Stock

Sound Point Meridian Capital, Inc. (NYSE:SPMC) major shareholder Guaranty Ltd Assured sold 4,562 shares of the company’s stock in a transaction that occurred on Tuesday, January 27th. The stock was sold at an average price of $14.31, for a total value of $65,282.22. Following the transaction, the insider directly owned 5,269,690 shares of the company’s stock, valued at approximately $75,409,263.90. This trade represents a 0.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Guaranty Ltd Assured also recently made the following trade(s):

• On Friday, January 23rd, Guaranty Ltd Assured sold 305 shares of Sound Point Meridian Capital stock. The stock was sold at an average price of $14.29, for a total value of $4,358.45.
• On Wednesday, January 14th, Guaranty Ltd Assured sold 1,650 shares of Sound Point Meridian Capital stock. The shares were sold at an average price of $14.48, for a total transaction of $23,892.00.
• On Tuesday, January 13th, Guaranty Ltd Assured sold 165 shares of Sound Point Meridian Capital stock. The shares were sold at an average price of $14.50, for a total transaction of $2,392.50.
• On Monday, January 12th, Guaranty Ltd Assured sold 3,782 shares of Sound Point Meridian Capital stock. The stock was sold at an average price of $14.72, for a total value of $55,671.04.
• On Monday, November 17th, Guaranty Ltd Assured sold 102 shares of Sound Point Meridian Capital stock. The shares were sold at an average price of $16.40, for a total value of $1,672.80.

Sound Point Meridian Capital Price Performance

Shares of Sound Point Meridian Capital stock opened at $14.23 on Thursday. The business has a fifty day simple moving average of $14.13 and a two-hundred day simple moving average of $16.27. Sound Point Meridian Capital, Inc. has a 1 year low of $13.06 and a 1 year high of $22.30. The company has a market capitalization of $291.61 million, a price-to-earnings ratio of 71.13 and a beta of 0.32.

Sound Point Meridian Capital (NYSE:SPMC) last issued its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $20.45 million.

Sound Point Meridian Capital Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th will be issued a $0.25 dividend. This represents a c) annualized dividend and a yield of 21.1%. The ex-dividend date of this dividend is Monday, March 16th. Sound Point Meridian Capital’s dividend payout ratio (DPR) is currently 1,500.00%.

Analyst Ratings Changes

Several analysts recently weighed in on the company. B. Riley reduced their price objective on Sound Point Meridian Capital from $23.00 to $16.00 and set a “buy” rating on the stock in a research note on Thursday, November 20th. Industrial Alliance Securities set a $18.50 price target on shares of Sound Point Meridian Capital in a research note on Thursday, November 13th. Zacks Research lowered shares of Sound Point Meridian Capital from a “hold” rating to a “strong sell” rating in a report on Friday, November 21st. Finally, Oppenheimer set a $20.00 price objective on shares of Sound Point Meridian Capital in a research report on Monday, December 1st. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Sound Point Meridian Capital presently has a consensus rating of “Hold” and an average price target of $18.90.

Hedge Funds Weigh In On Sound Point Meridian Capital

Hedge funds have recently made changes to their positions in the stock. Kim LLC bought a new stake in Sound Point Meridian Capital during the second quarter valued at $192,821,000. Everest Management Corp. bought a new stake in shares of Sound Point Meridian Capital during the 2nd quarter valued at about $1,303,000. Marshall Wace LLP grew its stake in Sound Point Meridian Capital by 35.4% during the second quarter. Marshall Wace LLP now owns 77,152 shares of the company’s stock worth $1,379,000 after purchasing an additional 20,163 shares during the period. Finally, Citadel Advisors LLC acquired a new stake in Sound Point Meridian Capital during the third quarter worth approximately $267,000.

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.