Sound Point Meridian Capital, Inc. (NYSE:SPMC) Director Matthew E. Forstenhausler Purchases 1,000 Shares of Stock

Sound Point Meridian Capital, Inc. (NYSE:SPMC) Director Matthew E. Forstenhausler purchased 1,000 shares of the business’s stock in a transaction on Thursday, November 21st. The stock was acquired at an average price of $20.25 per share, with a total value of $20,250.00. Following the purchase, the director now directly owns 1,000 shares in the company, valued at $20,250. This represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Sound Point Meridian Capital Trading Down 0.5 %

Sound Point Meridian Capital stock 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 firm’s 50 day moving average is $19.64.

Sound Point Meridian Capital Announces Dividend

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

Institutional Trading of Sound Point Meridian Capital

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

Wall Street Analyst Weigh In

Separately, B. Riley initiated coverage on Sound Point Meridian Capital in a research note on Wednesday, October 9th. They issued a “buy” rating and a $22.50 price objective for the company.

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.