Sound Point Meridian Capital (NYSE:SPMC) Stock Price Target Lowered at B. Riley Financial

Sound Point Meridian Capital (NYSE:SPMC) had its target price decreased by research analysts at B. Riley Financial from $10.00 to $6.50 in a note issued to investors on Friday, Benzinga reports. The firm presently has a “neutral” rating on the stock. B. Riley Financial‘s price objective would suggest a potential upside of 5.13% from the company’s current price.

Separately, Zacks Research upgraded shares of Sound Point Meridian Capital from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 27th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $12.83.

Sound Point Meridian Capital Stock Down 1.1%

NYSE:SPMC opened at $6.18 on Friday. The company has a fifty day moving average of $7.58 and a 200-day moving average of $9.70. The firm has a market capitalization of $126.75 million, a P/E ratio of -1.09 and a beta of 1.39. Sound Point Meridian Capital has a twelve month low of $5.43 and a twelve month high of $16.67.

Sound Point Meridian Capital (NYSE:SPMC) last released its earnings results on Thursday, November 12th. The company reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.01). The company had revenue of $12.82 million for the quarter, compared to the consensus estimate of $13.17 million. On average, analysts anticipate that Sound Point Meridian Capital will post 1.11 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in SPMC. Everest Private Wealth grew its stake in Sound Point Meridian Capital by 8.1% in the third quarter. Everest Private Wealth now owns 108,612 shares of the company’s stock valued at $913,000 after acquiring an additional 8,175 shares during the period. Advisory Solutions Group LLC bought a new stake in shares of Sound Point Meridian Capital during the second quarter valued at approximately $316,000. Finally, Allied Private Wealth LLC bought a new stake in shares of Sound Point Meridian Capital during the second quarter valued at approximately $984,000.

Key Sound Point Meridian Capital News

These are some of the SPMC news items that stood out recently:

• Positive Sentiment: Zacks added SPMC to its Rank #1 (Strong Buy) lists for November 13, including its income and value selections. These rankings may boost investor interest, though they do not guarantee future performance. Article: New Strong Buy Stocks
• Neutral Sentiment: The company issued an October net asset value estimate, but the provided article information does not state the estimate or how it changed. Article: Sound Point Meridian Capital Reports October NAV Estimate
• Negative Sentiment: SPMC’s second-quarter fiscal 2027 results fell short of expectations: earnings were $0.28 per share versus a $0.29 consensus, and revenue was $12.82 million versus $13.17 million expected. Earnings also declined from $0.54 per share a year earlier, a notable headwind for the stock. Article: SPMC Lags Q2 Earnings and Revenue Estimates

Sound Point Meridian Capital Company Profile

Sound Point Meridian Capital, Inc. is a publicly traded investment company focused on collateralized loan obligations (CLOs). It invests primarily in CLO equity and debt securities, which provide exposure to portfolios of corporate loans. Through these investments, the company participates in the financing of businesses whose loans are held in CLO portfolios. Its investment approach centers on selecting CLO securities rather than directly originating loans to companies. Sound Point Meridian Capital is externally managed by an affiliate of Sound Point Capital Management, a credit-focused investment manager.